₦50m up for Grabs as FG Opens Grant for Student Entrepreneurs

By Mosimiloluwa Kupoluyi

The federal government (FG) has opened the application portal for the Student Venture Capital Grant (S-VCG), a scheme that offers undergraduate entrepreneurs up to ₦50 million in equity-free funding.

Tunji Alausa, the Minister of Education, made this known in a statement on Monday.

He said the programme aims to help students transform groundbreaking ideas into ventures that can help to redefine the country’s economy.

Alausa added that the president has directed the ministry to look within tertiary institutions for student-driven ideas that can grow into major national successes.

“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 minister further explained that the scheme will support student-led innovations across different fields like science, technology, engineering, mathematics, and medical sciences (STEMM), which focus on ideas that address real problems and show potential to scale.

He expressed that successful applicants will enter a support system that includes incubation programmes, mentorship from experts and industry leaders, and access to tools needed to scale their startups.

Alausa also announced the government partnership with Google to support the application review process. He added that every eligible applicant will receive a one-year free Google Gemini Pro license and learning materials.

He urged students in accredited tertiary institutions to submit proposals that can solve important national or global challenges.