The Federal Government has opened the application portal for the Student Venture Capital Grant (SVCG), a new national programme designed to support student-led innovation with equity-free funding of up to ₦50 million.
This was contained in a statement issued on Monday in Abuja by the Director of Press and Public Relations at the Federal Ministry of Education, Mrs Boriowo Folasade.
Speaking at the launch, the Minister of Education, Prof. Tunji Alausa, said the initiative forms a core part of the administration’s broader innovation agenda aimed at stimulating high-impact research and enterprise within Nigeria’s tertiary institutions.
According to him, the President has mandated the ministry to “look for the next Moonshot within our tertiary institutions,” stressing that the programme seeks to identify and nurture future “Nigerian Unicorns” emerging from universities and colleges.
“This is an equity-free seed investment in Nigeria’s future,” Alausa said.
He explained that the grant targets students developing solutions in Science, Technology, Engineering, Mathematics and Medical Sciences (STEMM), particularly those addressing real-world challenges with strong potential for commercialisation and scale.
The ministry noted that beneficiaries will receive incubation support, mentorship, and access to specialised tools throughout the development of their ventures.
It also announced a partnership with Google to strengthen the evaluation and onboarding process.
As part of the collaboration, Google’s Gemini AI will support automated assessment on the application portal, while all applicants will receive a one-year Gemini Pro licence and premium learning resources.
According to the ministry, the partnership is intended to ensure that “students begin their entrepreneurial journey with the best tools available globally,” adding that the programme is designed to build a “powerful innovation funnel from idea to market domination.”
The application portal, http://svcg.education.gov.ng, is now open to students enrolled in accredited tertiary institutions nationwide.
Applicants are encouraged to submit proposals demonstrating scalability, strong market relevance, and the ability to address critical national or global challenges.
