The Federal Government has opened applications for the second cohort of the Student Venture Capital Grant (S-VCG), with 50 student-led ventures nationwide set to receive up to ₦50 million each in equity-free funding.
The Honourable Minister of Education, Dr. Maruf Tunji Alausa (FAMedS), announced the expansion on Friday, saying the initiative is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda to give young Nigerians practical opportunities to turn innovative ideas into viable enterprises.
“We are deepening support for student innovators by not just providing funding, but also mentorship, networks and business support to help them scale,” the Minister said.
Dr. Alausa, in a statement by Attah Ikharo, Special Adviser on Media and Communications, said the Ministry will continue to strengthen partnerships with tertiary institutions, development partners and the private sector “to take promising ideas from the classroom to the marketplace.”
The National Project Coordinator of S-VCG, Mr. Adebayo Onigbanjo, disclosed that a nationwide campus mobilisation campaign will run from September 6 to September 30, 2026.
The 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. Vice-Chancellors, Rectors, Provosts, lecturers and student leaders have been urged to identify and encourage promising innovators to apply.
For Cohort 2, the selection process has been tightened, as applications will undergo AI-assisted screening and review by 10 human evaluators.
Shortlisted applicants will make virtual presentations before an Evaluation Committee, while finalists will attend a bootcamp and in-person pitch.
A major new addition is a six-month mentorship programme for successful beneficiaries.
Student entrepreneurs will be matched with organisations and business leaders across technology, logistics, e-commerce, health, education and other sectors.
Supporting partners include Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth, among others.
The S-VCG, described as the “Next Moonshot Initiative”, is open to students developing solutions in health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM fields.
Applicants must:
Be currently enrolled in a Nigerian university, polytechnic or college of education
Be at least 300 level or equivalent. Students below 300 level can join as team members
Have a CAC-registered business name or company
Have a project that has moved beyond proof of concept with real-world potential
Applications are open at http://svcg.education.gov.ng and close on September 30, 2026.
The second cohort builds on the first, which recorded 17,914 registrations from 404 institutions across 36 states and the FCT within three weeks in November 2025.
Participation was 52% male and 48% female, drawn from 348 public and 56 private institutions.
From those, 3,014 completed submissions were screened, and 65 finalists pitched at a three-day bootcamp from March 27–29, 2026 before venture capitalists, industry experts and academic leaders.
The S-VCG is implemented under the Ministry’s Nigeria Education Sector Renewal Initiative (NESRI) STEMM pillar, in partnership with TETFund, Bank of Industry (BOI) and Afara Initiative.