The Federal Government has shortlisted 65 student innovators from 30,639 applicants across 404 tertiary institutions for the final stage of the Student Venture Capital Grant (S-VCG).
This was disclosed in a statement by the Federal Ministry of Education.
The initiative is a flagship programme of President Bola Ahmed Tinubu aimed at supporting student-led ventures and strengthening Nigeria’s innovation-driven economy.
The Minister of Education, Dr Maruf Olatunji Alausa, described the development as a major milestone in building a pipeline of innovators and entrepreneurs.
“The quality and ambition demonstrated by these 65 student innovators are deeply encouraging. Reaching this stage marks a significant milestone, and I look forward to the next phase as these ventures are refined and prepared for scale.
“Through this initiative, we are building a strong pipeline of innovators and entrepreneurs who will drive Nigeria’s future growth,” the minister said.
According to the ministry, the selection process involved a multi-stage evaluation, beginning with AI-enabled screening to assess eligibility and alignment with programme objectives.
This was followed by human validation and further review by an evaluation committee comprising representatives from government, industry, academia, and the investment ecosystem.
Final selection was based on criteria such as scalability, feasibility, founder capability, and impact potential.
The shortlisted innovators will participate in a venture development bootcamp scheduled for March 26–29, 2026.
The bootcamp will feature pitch sessions, workshops, and investor-style evaluations aimed at preparing the ventures for growth and funding. Final grant decisions will be based on application scores, bootcamp performance, and recommendations from the evaluation committee.
The Student Venture Capital Grant, launched in December 2025, is designed to support student-led innovation and entrepreneurship across Nigerian tertiary institutions.
Also known as the STEMM Up Grant, the programme provides up to N50 million in funding for ventures with strong commercial potential, particularly in science, technology, engineering, mathematics, and medical sciences.
It targets students in 300-level and above, offering not only funding but also mentorship, incubation support, and business development services to help scale ideas into viable enterprises.
The programme is being implemented in partnership with the Bank of Industry to ensure transparency and measurable outcomes, while addressing the long-standing gap between academic research and commercialisation in Nigeria.
