FG Launch Student Venture Capital Grant (S-VCG) ..... Introduces Landmark ₦50m Startup Grant for University Students

Dr Tunji Maruf Alausa
Minister of Education 

"The Student Venture Capital Grant (S-VCG), is a bold step in empowering Nigeria’s emerging generation of innovators." Tunji Alausa, Hon. Minister of Education.

..... Says "The initiative aims to ignite innovation, institute research excellence, and kick-start a vibrant entrepreneurial culture across our tertiary institutions."

The Federal Government through the Federal Ministry of Education has launched another landmark initiative that speaks directly to the future of the nation 

The initiative aims to ignite innovation, institute research excellence, and kick-start a vibrant entrepreneurial culture across our tertiary institutions. 

Speaking at the official launch. Nigeria's Minister of Education Dr Tunji Maruf Alausa disclosed that the Student Venture Capital Grant (S-VCG), is a bold step in empowering Nigeria’s emerging generation of innovators.

According to him, "This programme is far more than a grant scheme. It is a purposeful and strategic intervention designed to identify the next big idea—the next moonshot—from our campuses, while institutionalizing a culture of creativity, enterprise, and solution-driven thinking among our students. 

"The future of Nigeria is not abstract; it is in the minds, conversations, curiosity, and dreams of our young people. Our responsibility is to spark, nurture, and elevate those dreams.

"The S-VCG, Alausa said, "Stands as a key pillar of President Bola Ahmed Tinubu, Renewed Hope Agenda for Education, which places our people—our greatest national asset—at the centre of transforming education and building a competitive, innovation-led economy.

The Minister revealed that the initiative is a joint undertaking of the Federal Ministry of Education and TETFund, implemented in partnership with high-impact institutions, including the Bank of Industry, Afara Initiative, Entrepreneurships & Skills Development Center, Afrilabs, and Google. 

According to him, "Through this programme, students will have access to up to ₦50 million in equity-free seed funding to scale promising ventures with the potential to attract attention not only from Nigerian venture capital and private equity firms, but also from global investors.

"The S-VCG is structured to identify exceptional talent, give them a fair and credible opportunity to succeed, and inspire thousands of others to believe in their capacity to innovate. 

"We know that many successful founders did not thrive on their first attempt. But their journey began with a spark. 

"This programme exists to light that spark, build a new culture of confidence, and showcase to the world the depth of Nigerian ingenuity. Beneficiaries of the S-VCG will receive a comprehensive support package tailored to increase their chances of building viable, scalable ventures. 

"This includes:

* Up to ₦50 million in equity-free seed investment

* Intensive incubation programme

* Expert mentorship from seasoned entrepreneurs and industry leaders and

* Access to critical tools, networks, and resources for startup development

"The programme is open to:

* Students of Federal, State, and Private tertiary institutions

* Full-time students from Year 3 and above (with younger students eligible as team members)

* Ventures with a CAC-registered business name

* Projects rooted in STEMM—Science, Technology, Engineering, Mathematics, and Medical Sciences

As we have seen today, our students possess the hunger, passion, and boldness to rise to the challenge. They have waited for opportunities like this—and today, we are proud to deliver it.

Dr Alausa stated that every business submission will be thoroughly evaluated, and applicants will receive feedback to help refine and strengthen their ideas for subsequent cycles. 

"We also intend to pair teams with complementary ideas, encouraging collaboration, cross-learning, and shared innovation.

He disclosed that more importantly, the programme will accelerate research commercialization and the development of Intellectual Property (IP). 

"Not every idea will become a startup, but it our sincere hope some will evolve into patents and licensable technologies with potential for significant local and global impact.

"Applications will be processed through our dedicated digital portal. Short-listed teams will pitch before a 12-member panel comprising representatives of the Research, Innovation & Commercialization Committee, the Bank of Industry, venture capital and private equity professionals, Afara Initiative, Tertiary Institutions Professors and the Federal Ministry of Education.The Minister revealed 

"The application portal opened on 17th November and will close on 23rd January 2026, after which the evaluation process will commence immediately.

The Minister stated that the S-VCG is not just funding; it is a mindset shift. It complements academic learning with the courage to build, experiment, collaborate, and dare big. 

"Through this programme, we expect to see:

* A stronger innovation culture

* Deeper curiosity and ambition

* High-impact solutions for Nigeria and the world

"By empowering our students to pursue the next moonshot, we are building a sustainable innovation ecosystem within our tertiary institutions—one that is resilient, competitive, and globally relevant.

"The S-VCG is Renewed Hope in action—tangible evidence that this administration, under the leadership of President Bola Ahmed Tinubu, GCFR, listens to the aspirations of our young people and is committed to equipping them to shape the future of our nation.

He urged all eligible students across universities, polytechnics, and colleges of education, to begin their applications immediately.

Adding that, "The competition is intense, and only the very best will emerge so bring your A+ game. 

"This could be the start of your journey to becoming the next Jobberman, Moniepoint, Flutterwave, Helium Health, Releaf, or Chowdeck.

The Minister advised them to seize the moment—for their personal development, for the advancement of our institutions, and for the future of our great nation.