The Federal Government has officially opened its application portal for the Student Venture Capital Grant, a new initiative created to empower undergraduate innovators with up to N50 million equity-free funding. This programme focuses on students in Science, Technology, Engineering, Mathematics and Medicine (STEMM) fields, offering not only financial support but also mentorship and a one-year Google Gemini Pro licence for every applicant who completes the submission process.
The scheme, developed in partnership with the Bank of Industry (BOI), is a key part of the government’s plan to strengthen Nigeria’s innovation ecosystem by helping undergraduates turn their research, inventions, and creative ideas into viable products and scalable startups. According to federal officials, the goal is to reposition tertiary institutions as hubs for modern technological development, job creation, and globally competitive solutions.
A statement on the official platform explains that the government is providing young innovators with support that includes up to N50 million in equity-free funding, business incubation, hands-on mentorship, structured training, and access to digital tools. The initiative is intended to deepen Nigeria’s knowledge economy while preparing the next generation of technology-driven entrepreneurs.
Understanding the Student Venture Capital Grant
The Student Venture Capital Grant—formally known as the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant—is a government-supported investment window designed for student innovators building commercially viable technologies or research-based solutions. It provides beneficiaries with resources that help them move from idea development to fully deployable products without giving up ownership or equity.
Successful applicants will receive:
Up to ₦50 million equity-free capital
Business incubation and mentorship
Enterprise development and technical support
A one-year Google Gemini Pro licence provided to all applicants who submit complete proposals
Minister of Education, Tunji Alausa, explained that the initiative is part of the government’s long-term vision to nurture “a skilled, innovation-driven workforce capable of competing globally.” By focusing on STEMM disciplines, the programme aims to attract young minds solving real-world problems with technology, research, and creativity.
Eligibility Requirements
To be considered, applicants must meet the following criteria:
Must be Nigerian undergraduates currently enrolled in an accredited university, polytechnic, or college of education
Must have a project rooted in any STEMM discipline
Must demonstrate clear commercial potential, scalability, and practical problem-solving value
Must provide valid proof of studentship
Though targeted mostly at 300-level and above, all full-time STEMM students with strong innovations may apply
Applicants are required to upload the following:
A valid student ID and admission/registration documents
A detailed project proposal explaining the problem being solved, the solution, the methodology, and its market potential
A profile of team members, including their roles and responsibilities
Types of Projects the Grant Supports
Projects eligible for the programme cut across high-impact technological and scientific fields, including:
Artificial intelligence and machine learning
Healthcare technology, biotechnology, and medical devices
Renewable and clean energy innovation
Robotics, automation, data science, and advanced manufacturing
Climate-focused and environmental technologies
The government stressed that the intent is to raise a generation of innovators capable of producing globally competitive products while solving pressing local problems.
What Beneficiaries Stand to Gain
Students who are selected will receive substantial backing through capital, training, research support, and business incubation. Even applicants who do not make the final shortlist will still be given access to premium digital tools, ensuring they continue building the skills needed to grow within the tech and innovation landscape.
With the opening of the application portal, interested students across the country now have an opportunity to turn innovative ideas into thriving startups through the Student Venture Capital Grant.