Nigerian Government Shortlists 65 Student Entrepreneurs for Venture Capital Grant Initiative
The Federal Government has announced the selection of 65 student entrepreneurs from a pool of 30,639 applicants hailing from 404 tertiary institutions nationwide. This initiative, known as the Student Venture Capital Grant (S-VCG), is spearheaded by President Bola Ahmed Tinubu and aims to promote high-impact ventures led by students.
Highlighting Innovation in Nigerian Universities
This milestone underscores the immense potential for innovation and entrepreneurship within Nigeria’s university ecosystem, with the shortlisted candidates presenting scalable solutions across various sectors critical to national development, according to the Federal Ministry of Education.
Government’s Commitment to Young Innovators
In a statement released in Abuja on Monday by the Ministry’s Director-General for Press and Public Relations, Mr. Boriowo Folasad, Education Minister Malufu Olatunji Alausa described the S-VCG as a forward-looking investment in the nation’s future innovators and job creators. He remarked, “The quality and ambition demonstrated by these 65 student innovators is very encouraging. Reaching this stage is a significant achievement, and we eagerly await the next phase as these ventures prepare for scale.”
Support for Student-Led Ventures
Launched in December 2025 in collaboration with the Bank of Industry, the Student Venture Capital Grant offers up to N50 million in equity-free funding to support student-led ventures that are at the commercialization stage. This program is designed to help young entrepreneurs expand innovative solutions, foster job creation, and enhance Nigeria’s economy driven by innovation.
Rigorous Selection Process Ensures Quality
The 65 finalists were chosen through a comprehensive multi-stage evaluation process. Initial applications were subjected to AI-driven screening to verify eligibility and alignment with the program’s goals, followed by independent human checks to ensure accuracy and impartiality.
Evaluation by Industry Experts
The shortlisted entrepreneurs presented their ventures to an evaluation committee made up of representatives from government, industry, academia, and investment sectors. The assessment focused on criteria including scalability, feasibility, the capabilities of the founders, and potential impact.
Upcoming Venture Development Bootcamp
As the program progresses, the selected innovators will engage in an intensive venture development bootcamp scheduled for March 26-29, 2026. This event will include pitch sessions, venture development workshops, and live evaluations, all designed to enhance the growth and investment readiness of each venture.
Funding Decisions and Awards Ceremony
Final funding decisions will be made based on application scores, performance during the boot camp, and deliberations by the evaluation committee. The program will culminate in the awarding of the Student Venture Capital Grant on March 29, where the recipients of the N50 million funding will be announced officially. This initiative reflects the government’s commitment to nurturing innovation and student entrepreneurship, fostering a pipeline of scalable ventures essential for Nigeria’s economic transformation.
