The Federal Government of Nigeria has officially launched the application process for a major new initiative designed to empower the next generation of innovators. The Student Venture Capital Grant (S-VCG) is now accepting proposals from undergraduate students, offering a life-changing opportunity of up to N50 million in equity-free funding.
This programme is specifically targeted at full-time students enrolled in Science, Technology, Engineering, Mathematics, and Medicine (STEMM) fields across the country's accredited universities, polytechnics, and colleges of education. The initiative is a collaborative effort between the Federal Government and the Bank of Industry (BOI).
What the Student Venture Capital Grant Offers
The S-VCG is not just a cash prize; it is a comprehensive support system for young entrepreneurs. Successful applicants will receive a significant financial boost without having to surrender any ownership of their projects. The grant package includes:
- Up to N50 million in equity-free capital to develop their ideas.
- Structured business incubation and expert mentorship to guide them.
- Valuable enterprise development support.
- As an added incentive, every single applicant who completes a submission will receive a one-year license for the Google Gemini Pro artificial intelligence tool, fostering continued skill development.
According to a statement from the government, the core objective is to reposition higher education as a hub for technology development and job creation. The Minister of Education, Tunji Alausa, emphasized that the grant aligns with the broader plan to build a skilled, innovation-driven workforce capable of competing on the global stage.
Eligibility and Application Process
To qualify for this transformative grant, applicants must meet specific criteria. They must be Nigerian undergraduates with a project firmly rooted in a STEMM discipline. The innovation must demonstrate clear commercial potential, scalability, and a strong problem-solving value.
While the programme is primarily aimed at students in 300-level and above, all full-time STEMM undergraduates with viable and promising innovations are encouraged to apply. Interested students need to prepare and upload several key documents, including:
- A valid Student ID and admission or registration documents.
- A detailed project proposal that clearly outlines the problem, the proposed solution, the methodology, and the market viability.
- Profiles of all team members and their assigned roles.
Supported Project Categories
The Federal Government is looking for groundbreaking ideas across a wide spectrum of STEMM fields. Eligible project categories include, but are not limited to:
- Artificial Intelligence and Machine Learning
- Healthcare Technology, Medical Devices, and Biotechnology
- Renewable and Green Energy Solutions
- Robotics, Automation, and Data Science
- Environmental and Climate-Focused Technologies
- Advanced Manufacturing
The opening of the S-VCG portal marks a significant commitment by the government to harness the creative potential of Nigerian youth. By providing substantial funding, mentorship, and top-tier digital tools, the initiative aims to transform academic research and bright ideas into market-ready products and high-growth startups that can drive national development.
