TINUBU, ALAUSA DEEPEN SUPPORT FOR STUDENT INNOVATORS AS S-VCG OPENS SECOND COHORT 50 student-led ventures to receive up to ₦50m each in equity-free funding By Beauty Akporido Aroh

The Federal Government has opened applications for the second cohort of the Student Venture Capital Grant (S-VCG), with 50 student-led ventures set to receive up to ₦50 million each in equity-free funding as part of efforts to turn innovative ideas from Nigerian students into viable enterprises.

The initiative, being implemented under the leadership of the Minister of Education, Dr. Maruf Tunji Alausa (FAMedS), CON, is part of the Federal Government’s commitment under President Bola Ahmed Tinubu’s Renewed Hope Agenda to expand opportunities for young Nigerians and strengthen innovation and entrepreneurship within the tertiary education system.

The National Project Coordinator of the S-VCG, Mr. Adebayo Onigbanjo, disclosed this at a press briefing ahead of the nationwide campus mobilisation campaign scheduled for September 6 to 30, 2026.

Onigbanjo said the mobilisation would 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, including the 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 students across the country.

The Ministry is encouraging Vice-Chancellors, Rectors, Provosts, lecturers and student leaders to identify promising innovators in their institutions and encourage them to take advantage of the opportunity.

For the second cohort, the selection process has been strengthened, with applications to 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 significant addition to the programme is a six-month mentorship scheme for successful beneficiaries, through which student entrepreneurs will be 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 approach reflects the Ministry’s determination to ensure that student entrepreneurs receive support beyond funding, including mentorship, business networks and practical assistance as they develop and scale their ventures.

The second cohort builds on the strong response recorded during the inaugural S-VCG cycle, which attracted 17,914 registrations from 404 institutions across the 36 states and the Federal Capital Territory within three weeks of opening in November 2025.

The registrations comprised 348 public and 56 private institutions, with male participation accounting for 52 per cent and female participation 48 per cent.

A total of 3,014 completed submissions subsequently underwent AI-assisted screening and assessment by 10 human evaluators.

Sixty-five finalists advanced to the three-day S-VCG Bootcamp held from March 27 to 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 focused on research, innovation and entrepreneurship.

The programme is being implemented in partnership with the Tertiary Education Trust Fund (TETFund), Bank of Industry (BOI) and Afara Initiative.

It 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 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 potential for real-world application.

Applications are open at svcg.education.gov.ng and close on September 30, 2026.

The Ministry said under Alausa’s leadership, it would continue to strengthen partnerships with tertiary institutions, development partners and the private sector to expand opportunities for student innovators and provide the support required to take promising ideas from the classroom to the marketplace.

The initiative, according to the Ministry, underscores the Federal Government’s commitment under President Tinubu to building an education system that not only prepares young Nigerians for the world of work but also empowers them to create enterprises, develop solutions and contribute meaningfully to Nigeria’s economic transformation.