The Federal Ministry of Education has officially opened the application portal for the Student Venture Capital Grant (S-VCG), also known as the STEMM Up Grant, offering equity-free funding of up to ₦50 million to student-led innovative ventures in Nigeria.
The initiative, part of President Bola Tinubu’s Renewed Hope Agenda, is designed to identify and support groundbreaking student innovations with the potential to become globally competitive businesses.
Speaking on the launch, the Honourable Minister of Education, Dr. Tunji Alausa, stated:
“We are not merely funding projects; we are searching for the next generation of Nigerian unicorns that will emerge from our tertiary institutions. This is a strategic, equity-free investment in the future of innovation and economic growth in Nigeria.”
Key Features of the Grant:
– Up to ₦50 million in non-dilutive (equity-free) funding per selected venture
– Targeted at innovations in STEMM (Science, Technology, Engineering, Mathematics, and Medical Sciences)
– Open exclusively to full-time undergraduate students from 300 level and above in accredited Nigerian tertiary institutions
– Additional benefits include:
– Intensive incubation and acceleration programmes
– One-on-one mentorship from seasoned entrepreneurs and industry experts
– Access to state-of-the-art tools, workspace, and resources
– A complimentary one-year Google Gemini Pro license and premium learning resources for all valid applicants
– AI-powered fair evaluation using Google’s Gemini technology embedded in the portal
The programme is being implemented in collaboration with the Bank of Industry (BOI) to ensure transparency, accountability, and effective monitoring of funded projects.
How to Apply:
Eligible students can submit their applications via the official portal: click here
Applicants are required to present scalable, market-ready ideas that address significant national or global challenges.
The S-VCG was first unveiled in July 2025 and has since generated excitement across campuses nationwide.
A recent high-level stakeholders’ forum in Abuja, attended by vice-chancellors, rectors, provosts, student leaders, and development partners, laid the groundwork for a robust rollout.
The Federal Government has urged all eligible undergraduate students with innovative ideas in STEMM fields to seize this opportunity to transform their concepts into viable businesses that can create jobs and drive national development.
Applications are now open, and interested students are encouraged to apply promptly.