FG Launches ₦50m Student Venture Capital Grant for Young Innovators

Innovation among Nigerian students is rising, but the biggest barriers to transforming ideas into real businesses remain funding, mentorship, and validation. To address this, the Federal Ministry of Education (FME) launched the Student Venture Capital Grant (S-VCG), a national initiative designed to empower young innovators in tertiary institutions with equity-free funding, incubation support, and national visibility.

This article explains everything you need to know: the objectives, eligibility, benefits, requirements, timelines, and how to apply successfully.

What Is the Student Venture Capital Grant (S-VCG)?

The Student Venture Capital Grant (S-VCG) is a federal programme that provides up to ₦50 million equity-free seed funding to student-led ventures across Nigerian tertiary institutions. It focuses on high-impact, scalable innovations, especially in:

• Science

• Technology

• Engineering

• Mathematics

• Medical Sciences (STEMM)

Objectives of the S-VCG

1. Support Student-Led Businesses
2. Drive STEMM-based Innovation
3. Strengthen Nigeria’s Startup Ecosystem
4. Promote Job Creation
5. Increase Research Commercialization

Who Is Eligible for the S-VCG Grant?

1. Be a Student in a Tertiary Institution

• Must be an undergraduate from any accredited Nigerian University, Polytechnic, or College of Education.

• Typically 300 level and above, though some institutions allow younger students as team members.

2. Lead or Co-found a Business
3. Focus on STEMM or Innovative Fields
4. Have a Registered Business
5. Present a Viable, Scalable Business Idea
6. Be Ready to Pitch

Key Benefits of the S-VCG Grant

1. Up to ₦50 Million Equity-Free Funding
2. National Visibility
3. Incubation and Mentorship
4. Business Validation
5. Access to Learning Resources and Tools
6. Opportunities for Partnerships

• TETFund

• Bank of Industry (BoI)

• Afrilabs

• Afara Initiative

• Innovation and skills development groups

How the Selection Process Works

1. Online Application
2. Eligibility Screening
3. Shortlisting
4. Pitch Presentation

• Funding specialists

• Industry experts

• Academics

• Government representatives

• Startup ecosystem leaders

5. Grant Award and Onboarding

Types of Projects the S-VCG Prefers

• Technology-first solutions (AI, robotics, apps, hardware, IoT)

• Health innovations or medical devices

• Engineering prototypes

• Scientific breakthroughs with commercial potential

• Clean energy or climate-smart solutions

• EdTech, AgriTech, or FinTech powered by STEMM

• Research-based projects ready for commercialization

Why This Programme Matters

• Creating a pipeline of young innovators

• Reducing youth unemployment

• Boosting Nigeria’s tech ecosystem

• Encouraging local research and manufacturing

• Positioning Nigerian students to compete globally

How to Apply for the S-VCG Grant

1. Visit the official FME S-VCG portal when applications are open.

1. Create an account and fill in your personal, academic, and business details.

1. Upload supporting documents — CAC certificate, ID, pitch deck, and proof of studentship.

1. Submit your application.

1. Wait for screening and possible shortlisting.

1. Prepare your pitch and prototype for panel evaluation.

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Tips to Increase Your Chances of Winning

• Prepare a concise, convincing pitch deck.

• Demonstrate clear understanding of your target market.

• Show evidence of progress (prototype, mockups, early users).

• Highlight the innovation, not just the business.

• Provide realistic financial projections.

• Emphasize impact and scalability.

Conclusion

The Student Venture Capital Grant (S-VCG) is a transformative opportunity for Nigerian students with bold, innovative ideas. By providing equity-free funding, mentorship, incubation, and national recognition, the Federal Ministry of Education is creating a strong pathway for student-led startups to grow, scale, and compete globally.

If you are a student with a STEMM-driven or innovation-focused solution, this is the best time to apply and turn your idea into a real, market-ready venture. The portal is open, and early applications stand a better chance.

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Your next big innovation could start now. Apply today.