VThe Federal Government has officially launched the Student Venture Capital Grant, a groundbreaking national initiative aimed at fueling student-led innovation through equity-free grants of up to ₦50 million.

The programme, announced on Monday in a statement from the Federal Ministry of Education and signed by Boriowo Folasade, Director of Press and Public Relations, marks one of the most ambitious efforts to date to empower young innovators across Nigeria’s tertiary institutions.

Speaking at the launch, the Minister of Education, Tunji Alausa, described the initiative as a core component of the administration’s innovation agenda. He revealed that President Bola Ahmed Tinubu had challenged the ministry to uncover the nation’s next big technological breakthrough from within its universities and colleges.

“The President has challenged us to look for the next Moonshot within our tertiary institutions,” Alausa said. “We are not just looking for projects; we are scouting for future Nigerian Unicorns whose roots will be planted right here. This is an equity-free seed investment in Nigeria’s future.”

Targeted at students developing solutions in STEMM fields—Science, Technology, Engineering, Mathematics and Medical Sciences—the grant is designed to support ideas with clear potential for scale, commercialisation, and real-world impact. Successful applicants will gain access not only to funding but also to structured incubation, mentorship, and essential development tools.

In a major boost to the programme, the ministry announced a partnership with Google aimed at strengthening the evaluation process and enhancing the support system available to applicants. Google’s Gemini AI will power automated assessments on the application portal, while every participant will receive a free one-year Gemini Pro licence along with premium learning resources.

The ministry said the collaboration is part of a wider effort to ensure Nigerian students “begin their entrepreneurial journey with the very best tools available globally” and to build “a powerful innovation funnel from idea to market domination.”

Applications are now open at svcg.education.gov.ng, and students in accredited tertiary institutions nationwide are encouraged to submit proposals showcasing scalability, market relevance, and the capacity to solve critical national or global challenges.