FG unveils application portal for N50m student innovation funding

The Federal Government has officially launched applications for the Student Venture Capital Grant, a major nationwide initiative aimed at supporting student-led innovations and entrepreneurial projects with equity-free funding of up to ₦50 million.

The announcement was made on Monday in a statement issued by the Federal Ministry of Education and signed by Boriowo Folasade, the Director of Press and Public Relations. According to the ministry, the scheme is designed to boost innovation, encourage creativity, and help young Nigerians turn their ideas into viable enterprises.

Speaking at the launch, Education Minister Tunji Alausa highlighted that the program is a key part of the government’s ongoing efforts to foster innovation and support young entrepreneurs across Nigeria.

In his words, “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.”

The ministry said the grant is targeted at students building innovations in STEMM fields, Science, Technology, Engineering, Mathematics and Medical Sciences.

It was stated that the initiative is designed to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation.”

It added that successful applicants will be placed in a full support system that includes incubation, mentorship and access to tools.

The ministry also announced a partnership with Google to strengthen the programme’s evaluation process.

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 further explained that Google’s Gemini AI will power automated evaluation on the portal, and that every applicant will receive a free one-year Gemini Pro licence and premium learning resources.

The portal for applications is now open at svcg.education.gov.ng, and students in accredited tertiary institutions are encouraged to apply.

According to the ministry, applicants are advised to submit proposals that demonstrate “scalability, market relevance, and potential to solve critical national or global challenges.”