FG Unveils Student Venture Capital Grant to Boost Innovation Among Tertiary Students

The Federal Government has officially launched the Student Venture Capital Grant, a pioneering national initiative aimed at promoting research excellence, empowering student innovators, and fostering entrepreneurship across Nigerian tertiary institutions.

The launch, held in Abuja, aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, signaling a strategic shift toward an innovation-driven education ecosystem.

Key Details of the Grant:

• Funding: Up to ₦50 million in equity-free seed capital per selected student-led venture
• Support Provided: Incubation, mentorship, innovation tools, and access to academic and industry networks
• Eligibility: Full-time students in federal, state, and private institutions, with priority for ventures in STEM and Medical Sciences
• Evaluation: Ventures reviewed by a 12-member expert panel drawn from academia, industry, and government

Timeline and Participation:

• Portal opening: 17th November 2025
• Application deadline: 23rd January 2026
• Applications received: 17,914 submissions from 402 institutions

Partners and Stakeholders:

• TETFund, Bank of Industry, Afara Initiative, Afrilabs, Google
• National stakeholders including the Minister of Agriculture, House Committee on University Education, Special Adviser to the President, and former Minister of Power, Professor Barth Nnaji

The Honourable Minister of Education, Dr Maruf Tunji Alausa, described the grant as a bold investment in student creativity with potential for global impact. The Minister of State for Education, Professor Suwaiba Saidu Ahmad, emphasized the programme’s transformative potential in bridging funding gaps and strengthening student innovation, supported by an AI-powered evaluation system.

The Ministry reaffirmed its commitment to nurturing student-led ventures, building robust systems to enhance innovation, and driving the nation toward sustainable economic development.