The FG launches Next Moonshot Initiative as the Federal Government officially opens the application portal for the Student Venture Capital Grant, a major nationwide program aimed at providing student innovators with equity-free funding of up to N50 million. The initiative is targeted at young founders across tertiary institutions and is built to empower students working on high-impact ventures in science, technology, engineering, mathematics and medical fields.
Through the announcement by the Federal Ministry of Education, the government noted that the Student Venture Capital Grant (S-VCG) represents a strategic investment in Nigeria’s innovation ecosystem. According to the Ministry, this aligns with the Renewed Hope Agenda and serves as a bold step toward nurturing student-led ideas capable of driving technological advancement, economic expansion and globally competitive entrepreneurship. By introducing the FG launches Next Moonshot Initiative, the government aims to generate an environment where promising innovators can access critical support required to turn ideas into viable commercial solutions.
Below is the official post on X
During the unveiling ceremony, the Minister of Education, Chief Dr. Tunji Alausa FAMedS, CON, emphasized that the initiative is designed to fuel the future of Nigeria’s technology landscape. He explained that President Tinubu challenged the Ministry to identify the “next Moonshot” from within Nigerian tertiary institutions. The Minister added that the goal is not just to support small projects but to identify and nurture the next generation of Nigerian unicorns—high-value startups whose foundations can be traced back to universities and colleges. He described the grant as an equity-free investment into the nation’s economic future, reinforcing the administration’s commitment to groundbreaking innovation.
The structure of the S-VCG ensures that selected student startups receive more than just financial support. Beneficiaries will undergo an intensive incubation process, gain access to experienced industry mentors and leverage technical resources needed to build solutions that are ready for the market. The Ministry stressed that the program was created to ensure student entrepreneurs move beyond the conceptual stage and develop sustainable, scalable enterprises capable of addressing local and global challenges. Through the FG launches Next Moonshot Initiative, the government hopes to transform innovative concepts into thriving businesses with long-term impact.
Key Highlight
Another key highlight of the initiative is its strategic partnership with Google. Through this collaboration, Google’s Gemini AI technology powers customized evaluation tools within the application portal. These AI-driven systems help ensure a transparent, fair and efficient review process for all submissions. Additionally, every applicant who completes the submission process will receive a complimentary one-year Google Gemini Pro license and access to premium digital learning materials. According to the Ministry, this partnership is intended to help students enhance their technical expertise, improve digital literacy and strengthen their overall entrepreneurial capacity.
The government confirmed that the application portal is open to all eligible Nigerian students enrolled in accredited tertiary institutions. Interested applicants are encouraged to submit proposals that clearly demonstrate scalability, relevance and strong potential to address pressing national or global issues.
Students can access the official portal at svcg.education.gov.ng, where they are advised to prepare comprehensive project documents outlining their innovations, target users and growth potential.
Officials also noted that the Next Moonshot initiative is expected to boost economic development by encouraging higher levels of technology investment and creating broader access to startup funding for young entrepreneurs. The program is positioned as a venture capital pipeline designed to strengthen Nigeria’s digital economy, promote globally competitive innovation and support students building solutions with strong market demand and expansion potential.
@KunuOjite said:
“A better idea would have been to give research grants.”
@MondayJonathan8 said:
“Recruit more teachers….the shortage of manpower in the Educational sector is much. And stop this one sided students initiative of a thing.”
@haidargaladima said:
@amirusaidu69533 said:
@Detective__17 said:
“Pay BEA scholars Enough is enough”
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