The federal government has selected 65 student innovators from a total of 30,639 applicants across 404 tertiary institutions nationwide to advance to the final stage of the student venture capital grant (SVCG).
The scheme, introduced in November 2025 in collaboration
with the Bank of Industry (BoI), aims to provide up to N50 million in
non-dilutive funding to student-led ventures that have reached the
commercialisation stage.
In a statement issued on Monday, Folasade Boriowo, director
of press and public relations at the federal ministry of education, said the
initiative was designed to support young entrepreneurs in scaling their ideas,
creating jobs, and boosting the economy.
Boriowo added that the programme is a key initiative of
President Bola Tinubu’s administration, noting that the shortlisted candidates
are developing solutions in sectors critical to national development.
According to her, Tunji Alausa, minister of education,
described the initiative as a deliberate investment in the next generation of
innovators and job creators.
She added that the minister expressed optimism about the
creativity and ambition demonstrated by the finalists, noting that reaching the
final stage marks a significant milestone.
“The minister also stressed that the selection process was
rigorous and transparent, adding that the programme is helping to build a
pipeline of entrepreneurs who will contribute to Nigeria’s economic growth,”
Boriowo said.
She said applications were first subjected to AI-driven
screening to determine eligibility and alignment with the programme’s
objectives, followed by human review.
“Entries that passed this stage were then evaluated by a
panel comprising representatives from government, academia, industry, and the
investment community, using criteria such as scalability, feasibility, founder
capability, and impact potential,” she added.
“The 65 finalists are expected to participate in an
intensive venture development bootcamp between March 26 and 29.
“Activities will include pitch presentations, workshops,
live assessments, and investor feedback aimed at strengthening their ventures.
The final grant recipients will be selected based on
application scores, bootcamp performance, and recommendations from the
evaluation panel.
“The programme will conclude on March 29, 2026, with an
awards ceremony where beneficiaries of the N50 million funding will be
officially announced.”
Student venture capital grant
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