The Federal Government has launched the application portal for the newly introduced Student Venture Capital Grant (SVCG), a national initiative designed to provide equity-free grants of up to ₦50 million to support student-led innovation across the country.
The announcement was contained in a statement issued on Monday by the Federal Ministry of Education and signed by the Director of Press and Public Relations, Boriowo Folasade.
Speaking at the launch, Minister of Education, Tunji Alausa, said the initiative forms a critical part of the administration’s drive to accelerate innovation within Nigeria’s tertiary institutions.
“The President has challenged us to look for the next Moonshot within our tertiary institutions,” Alausa said. “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.”
Targeting STEMM Innovators
According to the ministry, the grant is specifically targeted at students developing solutions in Science, Technology, Engineering, Mathematics and Medical Sciences (STEMM).
The programme aims to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation.”
Successful applicants will receive more than just funding. They will be placed in a full innovation support system that includes business incubation, mentorship, and access to essential tools and resources.
Google Partnership for Evaluation
To strengthen the programme’s credibility and technical capacity, the Federal Government announced a partnership with Google. As part of the collaboration, Google’s Gemini AI will power the automated evaluation process on the portal.
The ministry added that every applicant will receive a free one-year Gemini Pro licence along with premium learning materials to enhance their entrepreneurial and technical skills.
“One of our 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 said.
Application Details
The portal is now open for applications at svcg.education.gov.ng, and students in accredited tertiary institutions are encouraged to apply.
Applicants are advised to submit proposals that demonstrate scalability, market relevance, and the potential to solve critical national or global challenges.
The initiative signals a significant push by the Federal Government to nurture homegrown innovations capable of driving economic growth and positioning Nigeria as a hub for technological advancement.
About The Author
