The federal government has opened the application portal for the Student Venture Capital Grant, a new national initiative designed to support student-led innovation with equity-free grants of up to N50m.
The Director of Press and Public Relations, Federal Ministry of Education, Boriowo Folasade, announced the opening of the portal in a statement on Monday.
According to the statement, Minister of Education, Tunji Alausa, described the initiative as a key part of the government’s innovation agenda during the launch of the scheme.
The statement quoted the minister to have saying, “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.”
According to the government, the grant targets students developing innovations in STEMM fields — Science, Technology, Engineering, Mathematics, and Medical Sciences.
The statement explained that the programme is designed to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation.”
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It added that successful applicants will be supported with incubation, mentorship and access to tools.
The government also announced a partnership with Google to strengthen the programme’s evaluation system. It stated that one of the objectives is to ensure that “our students begin their entrepreneurial journey with the very best tools available globally. We are building a powerful innovation funnel from idea to market domination.”
The statement noted that Google’s Gemini AI would power automated evaluation on the portal, and that every applicant would receive a free one-year Gemini Pro licence and premium learning resources.
The application portal is now live at svcg.education.gov.ng, and students in accredited tertiary institutions are encouraged to apply.
The ministry advised applicants to submit proposals that demonstrate “scalability, market relevance, and potential to solve critical national or global challenges.”