- FG Launches ₦50 Million Student Venture Capital Fund
- Successful applicants would also benefit from a comprehensive support ecosystem
- FG also announced a strategic partnership with Google to give applicants a global advantage
The Federal Government has officially opened applications for the ₦50 million Student Venture Capital Fund (S-VCG), a flagship initiative aimed at transforming student-driven ideas into commercially viable and high-impact ventures.
Eko Hot Blog reports that the programme offers equity-free grants of up to ₦50 million to students with innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
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In a statement on Monday, Folasade Boriowo, Director of Press and Public Relations at the Federal Ministry of Education, said successful applicants would also benefit from a comprehensive support ecosystem. This includes mentorship from seasoned entrepreneurs, access to essential tools, platforms, and resources necessary to develop and scale their startups.
“Nigerian students enrolled in accredited tertiary institutions are encouraged to apply. The official application portal is now live at svcg.education.gov.ng,” Boriowo said.
The Federal Government also announced a strategic partnership with Google to give applicants a global advantage. Google’s Gemini AI technology is integrated into the S-VCG application and evaluation process, providing custom-built evaluation agents to ensure fair, intelligent, and efficient review of submissions.
Every successful applicant will receive a one-year free Google Gemini Pro licence and premium learning resources to strengthen entrepreneurial and technical expertise. The Ministry emphasised that the initiative aims to equip Nigerian students with world-class tools to accelerate their innovation journey from idea to market.
The launch of the S-VCG follows the September 2024 introduction of the ₦100 million AI Fund by the National Centre for Artificial Intelligence and Robotics (NCAIR), designed to support Nigerian startups leveraging AI to create impactful technology solutions. The initiative, also backed by Google, is part of the Ministry of Communications, Innovation & Digital Economy’s strategy to harness AI for national development and innovation.
