FG Opens Portal For N50m Student Venture Grant

The Federal Government has officially launched the application portal for the Student Venture Capital Grant (S-VCG), an innovative programme created to empower student-led startups through non-dilutive, equity-free funding of up to ₦50 million per venture.

This development was disclosed in an official statement released by Boriowo Folasade, the Director of Press and Public Relations at the Federal Ministry of Education.

The Honourable Minister of Education, Chief Dr. Tunji Alausa, explained that the initiative represents a deliberate strategy by the government to identify and nurture groundbreaking innovations emerging from Nigeria’s higher education institutions.

“The President has challenged us to look for the next moonshot within our tertiary institutions. We are not just looking for projects; we are scouting for future Nigerian unicorns whose roots will be planted right here in our universities and colleges. This is an equity-free seed investment in Nigeria’s future,” he said.

The Ministry emphasized that the grant offers up to ₦50 million in funding exclusively to student innovators operating in the STEMM disciplines—Science, Technology, Engineering, Mathematics, and Medical Sciences.

Known alternatively as the STEMM Up Grant, the S-VCG was initially unveiled in July and formally launched on August 2. It constitutes a key component of the government’s Renewed Hope Agenda, which is focused on transforming student-led innovations into sustainable, high-growth, and commercially successful enterprises with significant societal impact.

Eligibility for the grant is restricted to full-time undergraduate students who are in 300-level or higher in any accredited tertiary institution across Nigeria. In addition to the financial award, selected beneficiaries will gain access to comprehensive mentorship programmes, incubation facilities, and professional business development support designed to accelerate the growth of their ventures and address pressing real-world problems.

The entire programme is being executed in strategic collaboration with the Bank of Industry to guarantee the highest standards of transparency, accountability, and clearly defined, measurable results throughout the selection and disbursement process.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli