The Federal Government has launched the application portal for the Student Venture Capital Grant (S-VCG), a new programme offering up to N50 million in equity-free funding to student innovators across the country.
The initiative—also called the STEMM Up Grant—aims to turn high-potential, student-led ideas into commercially viable ventures with the potential to scale globally.
According to a statement from Boriowo Folasade, Director of Press and Public Relations at the Ministry of Education, the programme is a direct push to Nigeria’s tertiary institutions to produce groundbreaking innovations.
Minister of Education Olatunji Alausa said the goal is to discover transformative ideas within universities and colleges. He described the fund as an investment in building the next generation of Nigerian “unicorn” startups.
The grant is open to full-time undergraduates in 300 level and above studying in accredited tertiary institutions. It is strictly for founders working on innovations in Science, Technology, Engineering, Mathematics and Medical Sciences (STEMM).
Eligible proposals must show clear potential for scalability, market relevance, and the ability to tackle major national or global challenges.
In addition to funding, selected innovators will receive extensive support, including:
Incubation and acceleration programmes
Mentorship from experienced entrepreneurs and industry experts
Access to essential tools and resources
To strengthen the evaluation process, the ministry partnered with Google, using Gemini AI to assess submissions. All applicants who submit valid entries will automatically receive a one-year Google Gemini Pro license and access to premium learning materials.
The programme is being carried out in collaboration with the Bank of Industry (BOI) to ensure transparency and measurable impact.
