The Federal Government has launched the Student Venture Capital Grant (S-VCG), a new initiative that will provide Nigerian students with access to up to ₦50 million in investment funding to support innovative business ideas.

The programme was formally unveiled on Monday in Abuja by the Minister of Education, Tunji Alausa, who said the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda to empower young people and stimulate innovation across tertiary institutions.

Speaking at the launch, Alausa described the S-VCG as a comprehensive support scheme designed to boost student-led startups through funding, mentorship, and structured incubation.

“Beneficiaries of the Student Venture Capital Grant will receive a comprehensive support package tailored to increase their chances of building viable, scalable ventures,” he said.

“This includes up to ₦50 million in equity-free seed investment, an intensive incubation programme, and mentorship from seasoned entrepreneurs and industry leaders.”

Alausa noted that the programme is open to students of federal, state, and private tertiary institutions, including third-year undergraduates, master’s students, and PhD candidates. Eligible businesses must be registered with the Corporate Affairs Commission (CAC) and fall within STEMM disciplines—Science, Technology, Engineering, Mathematics, and Medical Sciences.

He said the initiative is designed to position students as contributors to national development by enabling them to transform research ideas and innovations into market-ready enterprises.