By Omoyeni Ojeifo
Student innovators across Nigeria will have a chance to access up to ₦50 million each as the Federal Government opens the second cohort of the Student Venture Capital Grant, S-VCG.
The programme will see 50 student-led ventures receive up to ₦50 million each in equity-free funding, providing young entrepreneurs with an opportunity to move promising ideas beyond the classroom and into viable enterprises.
The National Project Coordinator of the S-VCG, Mr Adebayo Onigbanjo, told a media briefing in Abuja on Friday, with the initiative being driven by the Minister of Education, Dr Maruf Tunji Alausa.
“The second cohort is designed to support students developing solutions in science, technology, engineering, mathematics and medicine, STEMM, while taking the programme directly to campuses and providing information on eligibility, application requirements and the selection process,” he said.
The programme will target student innovators working on solutions in science, technology, engineering, mathematics and medicine, STEMM, with the campus mobilisation providing students with details on eligibility, application requirements and the selection process.
“Successful beneficiaries will also receive six months of mentorship, giving student entrepreneurs access to experienced organisations and business leaders in technology, logistics, e-commerce, health, education and other sectors.”
According to him, winning ventures will also receive a six-month mentorship programme supported by corporate and entrepreneurial organisations, including Lafarge, Cellulant / Childtech, Powerhouse, Co-Creation Hub/African stalking, LifeBank, Future Africa, Get Equity and One health, among others.
Onigbanjo explained that model goes beyond funding, giving beneficiaries access to mentorship, professional networks and practical business support to help them develop and scale their ventures under Alausa’s leadership.
The S-VCG team will visit nine tertiary institutions across the six geopolitical zones during the September 6–30 mobilisation campaign.
“The institutions are University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bauchi, Bayero University Kano, Kano University of Science and Technology, Wudil, Federal Polytechnic Nekede, Owerri, Ambrose Alli University, Ekpoma, University of Lagos and Covenant University, Ota.”
“A Campus Ambassador Programme will also be activated in 20 additional institutions to extend awareness of the opportunity to more students nationwide,” he added.
He emphasized that the second cohort will see applications undergo AI-assisted screening and assessment by 10 human evaluators.
The Project Coordinator also disclosed that applicants will make virtual presentations before an Evaluation Committee, while finalists will proceed to a bootcamp and in-person presentations.
“Applicants must be currently enrolled in a Nigerian university, polytechnic or college of education and be at least 300 level or its equivalent.
“Students below 300 level may participate as members of teams led by qualifying students.”
Applicants must also have a CAC-registered business name or company, while their projects must have progressed beyond proof of concept and demonstrate real-world potential, Onigbanjo emphasized.
Candidates can apply on svcg.education.gov.ng on or before September 30, 2026.
The second cohort leverages on the inaugural S-VCG cycle, which attracted 17,914 registrations from 404 institutions across all 36 states and the Federal Capital Territory within three weeks of opening in November 2025.
The registrations came from 348 public and 56 private institutions, with 52 per cent male and 48 per cent female participation.
A total of 3,014 completed submissions subsequently underwent AI-assisted screening and review by 10 human evaluators.
Sixty-five finalists advanced to the three-day S-VCG Bootcamp held from March 27–29, 2026, where they presented their ventures before a panel comprising venture capitalists, industry experts and academic leaders.
The S-VCG, known as the “Next Moonshot Initiative”, is part of the Ministry’s Nigeria Education Sector Renewal Initiative, NESRI, particularly its STEMM pillar on research, innovation and entrepreneurship.
It is implemented in partnership with the Tertiary Education Trust Fund, TETFund, Bank of Industry, BOI, and Afara Initiative.
The Ministry of Education urged Vice-Chancellors, Rectors, Provosts, lecturers and student leaders to identify promising innovators within their institutions and encourage them to apply.
The initiative reflects the Federal Government’s commitment under President Bola Ahmed Tinubu to building an education system that not only prepares young Nigerians for the world of work, but also empowers them to create enterprises, develop solutions and contribute meaningfully to the nation’s economic transformation.
Author
Leave a comment