The Federal Government has officially launched the application process for its groundbreaking N50 million Student Venture Capital Fund, creating an unprecedented opportunity for Nigerian students to transform their innovative ideas into commercial successes.
Unprecedented Funding and Support for Student Entrepreneurs
In a significant move announced on Monday, November 17, 2025, the Federal Ministry of Education opened the application portal for this flagship initiative. According to a statement released by Folasade Boriowo, Director of Press and Public Relations at the Ministry, the program offers equity-free grants of up to ₦50 million specifically targeting students with innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
The program extends beyond mere financial support, providing successful applicants with a comprehensive ecosystem designed to ensure their ventures thrive. This includes expert mentorship from seasoned entrepreneurs and industry leaders, along with full access to essential tools, platforms, and resources necessary for developing and scaling their startups.
Strategic Google Partnership and AI Integration
In a groundbreaking development, the government revealed a strategic partnership with technology giant Google to position Nigerian students at the forefront of global innovation. The collaboration integrates advanced technology directly into the application and evaluation process through Google's Gemini AI technology.
Custom-built evaluation agents powered by Google's Gemini AI are now embedded within the application portal to ensure fair, intelligent, and efficient review of all submissions. Additionally, every applicant who successfully submits a business project or innovation will receive a one-year free Google Gemini Pro licence along with premium learning resources to strengthen their entrepreneurial and technical expertise.
Building Nigeria's Innovation Pipeline
The Ministry emphasized that one of the primary objectives of this partnership is to ensure Nigerian students begin their entrepreneurial journey with world-class tools as the government builds what it describes as "a powerful innovation funnel from idea to market domination."
This initiative follows the September 2024 launch of the N100 million AI Fund by the National Centre for Artificial Intelligence and Robotics (NCAIR), which also enjoyed backing from Google. That program targeted Nigerian startups leveraging Artificial Intelligence to develop innovative solutions, offering up to N10 million in funding alongside access to Google's extensive resources.
All Nigerian students enrolled in accredited tertiary institutions are encouraged to apply through the official portal at svcg.education.gov.ng for this transformative opportunity that bridges the gap between academic learning and real-world entrepreneurial success.
