FG Opens Portal for Students’ Venture Capital Grant as New Innovation Era Begins
“Nigeria opens portal for the Students’ Venture Capital Grant, offering students up to N50m, mentorship, incubation and Google Gemini tools for startup innovation.”
The Students’ Venture Capital Grant has officially opened for applications, marking one of the most ambitious steps yet by the Federal Government to stimulate innovation, youth entrepreneurship, and economic diversification through student-led ventures across the country. Announced in Abuja by Mrs. Folasade Boriowo, Director of Press and Public Relations at the Federal Ministry of Education, the launch signals a shift toward backing students with high-impact ideas capable of maturing into commercially viable enterprises.
According to Boriowo, the Minister of Education, Dr. Tunji Alausa, described the Students’ Venture Capital Grant as a central pillar of the administration’s broader Renewed Hope Agenda. He emphasised that the initiative is not merely a funding exercise, but a deliberate national strategy to cultivate innovators who can spearhead new industries, disrupt existing systems and redefine Nigeria’s economic trajectory.
Alausa explained that the President had challenged the Ministry to “look for the next Moonshot within our tertiary institutions,” stressing that the Students’ Venture Capital Grant was created to respond directly to this call. He added that government is not only seeking compelling projects but is actively scouting for future Nigerian Unicorns whose first roots will be planted in universities and polytechnics through equity-free support. “This is an equity-free seed investment in Nigeria’s future,” he said.
The minister stated that the Students’ Venture Capital Grant will award up to N50 million to student founders working on innovations in Science, Technology, Engineering, Mathematics and Medical Sciences (STEMM). However, he noted that financial support is only one layer of the structure. Successful applicants will be absorbed into a comprehensive ecosystem that includes intensive incubation, structured mentorship from accomplished entrepreneurs, and direct access to technical tools, platforms and professional resources required for product development, scaling and long-term sustainability.
Alausa noted that a major strength of the Students’ Venture Capital Grant lies in its strategic partnerships, particularly with Google. Through this collaboration, Google’s Gemini AI has been integrated into the application and evaluation process, enabling a custom-built set of “evaluation agents” that support objective, intelligent and efficient review of proposals. This ensures transparency, reduces bias, and guarantees that every submission is fairly assessed on merit.
He further disclosed that every applicant who completes a submission under the Students’ Venture Capital Grant will receive a one-year Google Gemini Pro license at no cost. This is accompanied by a suite of premium learning resources designed to strengthen entrepreneurial capability, enhance technical proficiency and equip students with real-world skills needed to compete in the global innovation marketplace.
The minister noted that this partnership ensures students are not only funded but are also empowered to begin their entrepreneurial journey with world-class digital tools. By embedding these resources into the programme, the Ministry aims to position Nigerian students at the frontlines of technological advancement, ensuring they can innovate confidently and compete with global peers.
Alausa encouraged all eligible Nigerian students in accredited tertiary institutions to apply through the official portal which remains the sole entry point for submissions. He advised applicants to prepare proposals that are scalable, market-ready and capable of solving significant national or global challenges, explaining that projects with clear pathways to impact will gain priority consideration under the Students’ Venture Capital Grant.
With this launch, the Federal Government signals an optimistic future built on homegrown innovation. By combining funding, mentorship, incubation and global technology support, the Students’ Venture Capital Grant stands as one of the most comprehensive youth-focused enterprise programmes yet introduced in Nigeria, and its outcomes could shape a new generation of innovators, founders and problem-solvers across the country.
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