The Federal Government has shortlisted 65 student innovators for the final stage of the Student Venture Capital Grant (S-VCG), a ₦3 billion initiative designed to provide up to ₦50 million in equity-free funding to high-impact, student-led startups.
Announced on Monday, March 23, 2026, by the Federal Ministry of Education, this shortlist emerged from a massive pool of 30,639 applicants representing 404 tertiary institutions across Nigeria.
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The selection process utilized a multi-stage evaluation framework, beginning with AI-enabled screening to assess eligibility and alignment with national development goals.
This was followed by human validation and a review by a technical committee comprising representatives from the government, industry, academia, and the investment community.
Finalists were chosen based on the scalability, feasibility, and impact potential of their ventures, as well as the demonstrated capability of the founders.
The S-VCG, often referred to as the STEMM Up Grant, specifically targets full-time students in their 300-level and above, as well as postgraduate students, working in Science, Technology, Engineering, Mathematics, and Medical Sciences.
This flagship project under President Bola Tinubu’s “Renewed Hope Agenda” aims to transform Nigerian campuses into innovation hubs capable of producing patents and market-ready solutions.
The program is implemented in partnership with the Bank of Industry (BoI), TETFund, and several private sector partners including Google and Afrilabs.
The 65 shortlisted innovators are scheduled to participate in an intensive Venture Development Bootcamp from March 26 to March 29, 2026.
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This final phase will include pitch sessions, workshops, and investor-style feedback to refine the business models.
The program will culminate in the S-VCG Beneficiary Awards Day on March 29, where the final recipients of the ₦50 million funding will be officially unveiled.
Beyond the financial grant, beneficiaries will receive mentorship, incubation support, and business development services to help scale their ventures into commercially viable enterprises.
Source: Nairametrics
