Nigeria’s Minister of Education, Dr. Tunji Alausa, has unveiled the Student Venture Capital Grant (S-VCG), a groundbreaking initiative that will provide student entrepreneurs with access to investment funding of up to ₦50 million to support and scale their businesses.
The programme, launched on Monday in Abuja, forms part of President Bola Tinubu’s Renewed Hope Agenda, which prioritizes youth empowerment, innovation, and enterprise development.
Speaking at the unveiling, Alausa described the S-VCG as a transformative government-backed initiative designed to nurture student-led innovations by offering not just funding, but also mentorship and incubation support.
“Beneficiaries of the Student Venture Capital Grant will receive a comprehensive support package tailored to help them build viable and scalable ventures,” Alausa said. “This includes up to ₦50 million in equity-free seed funding, an intensive incubation programme, and mentorship from experienced entrepreneurs and industry leaders.”
He added that the programme is open to students across all federal, state, and private tertiary institutions—including undergraduates in their third year and above, as well as master’s and doctoral students. Eligible startups must be registered with the Corporate Affairs Commission (CAC) and operate within STEMM fields: Science, Technology, Engineering, Mathematics, or Medical Sciences.
The application portal for the S-VCG opened on 17 November 2025, inviting submissions from students nationwide. Applicants must be in 300-level or higher and have STEMM-related projects backed by CAC-registered businesses.
Shortlisted candidates will progress to a second round, where they will pitch their ventures before a 12-member panel of industry experts. The application window closes on 23 January 2026.
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