The Federal Government has opened applications for the second cohort of the Student Venture Capital Grant, S-VCG, with 50 student-led ventures to receive up to N50 million each in equity-free funding.
The initiative, under the Renewed Hope Agenda of President Bola Tinubu, is designed to help student innovators transform promising ideas into viable businesses and scalable solutions.
National Project Coordinator of the S-VCG, Adebayo Onigbanjo, announced the opening of the second cohort at a press briefing ahead of a nationwide campus mobilisation campaign scheduled for September 6 to 30.
Onigbanjo said the mobilisation would take the opportunity directly to students across the country, particularly those developing solutions in science, technology, engineering, mathematics and medicine, STEMM.
He said the campaign would also provide prospective applicants with information on eligibility, application requirements and the selection process.
The S-VCG team is expected to 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.
The ministry will also activate a Campus Ambassador Programme in 20 additional institutions to expand awareness of the opportunity nationwide.
The Minister of Education, Dr Tunji Alausa, urged vice-chancellors, rectors, provosts, lecturers and student leaders to identify promising innovators in their institutions and encourage them to apply.
Unlike the inaugural cycle, the second cohort will feature a strengthened selection process, with applications subjected to 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.
The programme has also introduced a six-month mentorship scheme designed to provide successful beneficiaries with access to experienced organisations and business leaders in technology, logistics, e-commerce, healthcare, education and other sectors.
Supporting organisations include Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth.
The ministry said the expanded model was designed to ensure that support for student entrepreneurs goes beyond funding to include mentorship, networks and practical business support needed to develop and scale their ventures.
The second cohort builds on the strong response to 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 its launch in November 2025.
Of the registrations, 348 came from public institutions and 56 from private institutions, with male participation at 52 per cent and female participation at 48 per cent.
A total of 3,014 completed submissions underwent AI-assisted screening and assessment by 10 human evaluators, while 65 finalists advanced to the three-day S-VCG Bootcamp held from March 27 to 29, 2026.
The S-VCG, also known as the “Next Moonshot Initiative”, is a component of the Ministry of Education’s Nigeria Education Sector Renewal Initiative, NESRI, particularly its STEMM pillar on research, innovation and entrepreneurship.
It is being implemented in partnership with the Tertiary Education Trust Fund, TETFund, Bank of Industry, BOI, and Afara Initiative.
The grant is open to students developing innovations in health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM-related fields.
Applicants must be enrolled in a Nigerian university, polytechnic or college of education and be at least in 300 level or its equivalent.
Students below 300 level may participate as members of teams led by qualifying students.
Applicants are also required to have a CAC-registered business name or company, while their projects must have progressed beyond proof of concept and demonstrate real-world potential.
Applications are open through svcg.education.gov.ng and close on September 30, 2026.
The Federal Ministry of Education said the initiative was part of efforts to build an education system that not only prepares young Nigerians for employment but also equips them to create businesses, develop solutions and contribute to Nigeria’s economic transformation.
