FG SELECTS 65 STUDENT INNOVATORS FOR N50M GRANT
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By: Muftau Fatimo
The Federal Government has shortlisted 65 student innovators from a total of 30,639 applicants across 404 tertiary institutions nationwide for the final stage of the Student Venture Capital Grant. This flagship initiative by President Bola Tinubu is designed to promote innovation and entrepreneurship among young Nigerians.
The announcement was made in a statement on Monday, signed by Folasade Boriowo, Director of Press and Public Relations at the Federal Ministry of Education.
The statement noted that the selected students are working on solutions in sectors deemed vital to national development.
Commenting on the development, Minister of Education Maruf Alausa described the programme as a strategic investment in the country’s future innovators and job creators.
The quality and ambition demonstrated by these 65 student innovators is deeply encouraging. Reaching this stage represents a significant milestone, and I look forward to the next phase as these ventures are refined and prepared for scale.
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“Through this initiative, we are building a strong pipeline of innovators and entrepreneurs who will drive Nigeria’s future growth,” the minister said in the statement.
The SVCG, launched in December 2025 in partnership with the Bank of Industry, offers up to N50m in equity-free funding to student-led ventures that have reached the commercialisation stage.
The ministry stated that the selection process involved multiple stages to ensure fairness and merit. Applications were initially screened using AI tools to assess eligibility and alignment with the programme’s objectives, followed by verification by human evaluators.
Shortlisted entries were then reviewed by a committee consisting of representatives from government, academia, industry, and the investment sector. The evaluation considered factors such as scalability, feasibility, founder capability, and potential impact.
The 65 finalists are set to participate in an intensive venture development bootcamp scheduled from March 26 to 29, 2026.
The programme will feature pitch sessions, workshops, live evaluations, and investor-style feedback designed to strengthen the participants’ ventures.
Final grant awards will be determined based on application scores, bootcamp performance, and the evaluation committee’s recommendations.
The initiative will culminate with the Student Venture Capital Grant Beneficiary Awards Day on March 29, 2026, where successful recipients of the N50 million funding will be formally announced.
The ministry emphasized that the programme underscores its commitment to fostering innovation, supporting student entrepreneurs, and nurturing scalable ventures with the potential to transform Nigeria’s economy.
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