Minister of Education, Dr. Tunji Alausa, is leading efforts to give young Nigerians practical opportunities to turn innovative ideas into viable enterprises, as the second cohort of the Student Venture Capital Grant (S-VCG) opens applications for student innovators nationwide.
The programme forms part of the Federal Government’s commitment, under the Renewed Hope Agenda of President Bola Tinubu, to expand opportunities for young Nigerians, with 50 student-led ventures set to receive up to ₦50 million each in equity-free funding.
According to a statement by Ikharo Attah, Special Adviser ( Media and Communications) to Alausa, the National Project Coordinator of the S-VCG, Adebayo Onigbanjo, disclosed the development at a press briefing ahead of the nationwide campus mobilisation campaign scheduled for September 6–30, 2026.
The mobilisation is designed to take the programme directly to students across the country, particularly those developing solutions in science, technology, engineering, mathematics and medicine (STEMM), while providing information on eligibility, application requirements and the selection process.
The S-VCG team will visit nine tertiary institutions across the six geopolitical zones: 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.
The Ministry is encouraging Vice-Chancellors, Rectors, Provosts, lecturers and student leaders to identify promising innovators within their institutions and encourage them to apply.
For the second cohort, the selection process has been strengthened to ensure that promising ventures receive rigorous assessment. Applications will undergo AI-assisted screening and assessment by 10 human evaluators. Shortlisted applicants will make virtual presentations before an Evaluation Committee, while finalists will proceed to a bootcamp and in-person presentations.
A major addition to the S-VCG program is a six-month mentorship programme for successful beneficiaries. Through the initiative, student entrepreneurs are connected with experienced organisations and business leaders across technology, logistics, e-commerce, health, education and other sectors.
Supporting organisations include Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth, among others.
The expanded model reflects Dr. Alausa’s approach to supporting student entrepreneurship beyond funding, by providing beneficiaries with access to mentorship, networks and practical business support as they develop and scale their ventures.
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The second cohort builds on the strong response to 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.
A total of 65 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 programme is open to students developing innovations in health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM-related fields.
Applicants must be currently enrolled in a Nigerian university, polytechnic or college of education and be at least at 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.
Applications are open at *svcg.education.gov.ng* and close on September 30, 2026.
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