FG N50m Student Venture Grant: Full Guide to Requirements, Eligibility & How to Apply (2025)

Learn how to apply for the Federal Government’s N50m Student Venture Grant (S-VCG). Full eligibility, benefits, STEMM focus, and official application details.

The Federal Government has officially opened applications for the Student Venture Capital Grant (S-VCG)—a groundbreaking initiative offering equity-free funding of up to ₦50 million to innovative student-led ventures across Nigeria. Designed to identify and scale high-impact ideas within tertiary institutions, this program is one of the most ambitious government-funded entrepreneurship grants in recent years. This guide provides the most comprehensive and authoritative breakdown available online, ensuring students understand how the grant works, who qualifies, and how to apply successfully.

About the N50m Student Venture Capital Grant (S-VCG)

The S-VCG—also called the STEMM Up Grant—is a flagship national innovation program introduced by the Federal Ministry of Education to empower young creators and accelerate growth in Nigeria’s science and technology sectors.

The initiative was formally announced by Boriowo Folasade, Director of Press and Public Relations, and endorsed by the Minister of Education, Chief Dr. Tunji Alausa, who emphasized the government’s mission to discover “the next Nigerian moonshot” from within higher institutions.

Key Objective

To identify, support, and scale high-potential innovations developed by students in accredited Nigerian universities, polytechnics, and colleges.

Authoritative sources:

Federal Ministry of Education: https://education.gov.ng
Bank of Industry (BOI): https://www.boi.ng
National Universities Commission: https://www.nuc.edu.ng

Grant Value and Funding Structure

The S-VCG offers:

✔ Up to ₦50 Million Equity-Free Funding

This means:

No repayment
No equity dilution
No interest

The funds are strictly intended to help student founders transform innovative ideas into commercially viable products.

Target Beneficiaries

The grant focuses on students working on innovation-driven projects in STEMM fields, which include:

These sectors align with global innovation trends and the government’s mission to strengthen Nigeria’s digital and scientific capacity.

Eligibility Requirements

To qualify for the 2025 S-VCG Grant, applicants must meet the criteria below:

Basic Eligibility

Must be a full-time undergraduate student
Must be in 300-level, 400-level, or 500-level, depending on program duration
Must be enrolled in an accredited Nigerian tertiary institution
Must be working on a problem-solving, innovation-driven venture

Preferred Innovation Areas

Although open to all STEMM innovations, priority may be given to ventures addressing national needs such as:

Program Timeline & Launch History

First announcement: July 2025
Official launch: August 2, 2025
Implementation partners: Federal Ministry of Education & Bank of Industry

The initiative falls under the government’s Renewed Hope Agenda, focusing on job creation, innovation, and youth economic empowerment.

Additional Benefits Beyond Funding

The S-VCG is not just a financial grant—it is a full venture-building pipeline.

Successful applicants will receive:

Business incubation support
Mentorship from industry experts
Structured business development services
Access to partner networks
Opportunities to pitch for additional funding

These features ensure funded ventures have long-term sustainability and measurable national impact.

Implementation Partners

The program is implemented in partnership with the Bank of Industry (BOI) to ensure:

Transparent fund management
Rigorous due diligence
Accountability of grant usage
Tracking of project milestones

For BOI’s verified innovation programs:
https://www.boi.ng/category/innovation/

Why This Grant Matters

Nigeria has over 2 million undergraduates across tertiary institutions, many with untapped potential in science and technology. The S-VCG grant aims to bridge the innovation gap by transforming campus-developed ideas into scalable ventures that can contribute to national development.

Relevant global reports:

World Bank Education Innovation Report: https://www.worldbank.org
UNESCO Science & Innovation Statistics: https://uis.unesco.org

How to Apply (Step-by-Step Guide)

Note: Application portal updates may be provided through the Ministry of Education or BOI. Follow these steps to prepare ahead:

Step 1 – Confirm Eligibility

Ensure you meet the academic and innovation requirements.

Step 2 – Prepare Documentation

You may need:

Student ID
Admission letter
Project proposal
Team information (if applicable)
Prototype or proof-of-concept documentation

Step 3 – Draft a Strong Innovation Summary

Highlight the problem, solution, market potential, and expected impact.

Step 4 – Submit Application via Official Portal

(Insert official link once released).

Step 5 – Monitor Email for Updates

Shortlisted candidates will proceed to pitch rounds and program interviews.

Conclusion

The Federal Government N50m Student Venture Grant is one of the largest innovation grants ever introduced for Nigerian students. By combining high-value funding with incubation support, mentorship, and BOI-backed implementation, the S-VCG is a unique opportunity for young innovators to build scalable ventures that can shape the country’s scientific and technological future.

Call-to-Action (CTA)

If you’re a student innovator with a high-potential idea, begin preparing your proposal now—and share this guide with friends, classmates, and anyone who may benefit. Early preparation dramatically increases your chances of being selected.