Federal Government Opens Portal For ₦50m Student Venture Capital Grant

The Federal Government has opened the application portal for the newly launched ₦50 million Student Venture Capital Fund (S-VCG), an initiative aimed at transforming student-led innovations into commercially viable enterprises.

The scheme offers equity-free grants of up to ₦50 million to students developing solutions in Science, Technology, Engineering, Mathematics and Medical Sciences (STEMM).

Director of Press and Public Relations at the Federal Ministry of Education, Folasade Boriowo, announced the development in a statement on Monday.

Boriowo noted that successful applicants will also benefit from expert mentorship, access to tools and platforms, and complete support system to scale their ideas.

According to her, the portal- svcg.education.gov.ng is now open to students in accredited tertiary institutions nationwide.

The government also unveiled a strategic partnership with Google to deepen the programme’s global competitiveness.

Through the collaboration, Google’s Gemini AI will power customised evaluation systems on the portal to ensure transparent and efficient assessment of submissions.

Every applicant who completes the submission will also receive a one-year free Google Gemini Pro licence and premium learning resources.

The Ministry said the initiative is part of efforts to build “a powerful innovation funnel from idea to market domination,” positioning Nigerian students at the forefront of global innovation.

In a related development, the National Centre for Artificial Intelligence and Robotics (NCAIR) launched a ₦100 million AI Fund in September 2024 to support AI-driven Nigerian startups.

The fund, also backed by Google, offers up to ₦10 million, along with access to Google’s AI tools, mentorship, and global support networks.