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From Fred Ezeh, Abuja
The Federal Government has shortlisted 65 student-innovators for the final stage of the Student Venture Capital Grant (S-VCG), a flagship initiative designed to accelerate high-impact student-led ventures and strengthen Nigeria’s innovation-driven economy.
Minister of Education, Dr. Maruf Olatunji Alausa, in a statement, on Monday, confirmed that the selection of the 65 finalists followed a transparent and rigorous multi-stage evaluation process.
He explained that applications first underwent AI-enabled screening to assess eligibility, completeness and alignment with programme objectives, followed by independent human validation to ensure accuracy and fairness.
Afterwards, shortlisted ventures were reviewed by an evaluation committee comprising representatives from government, industry, academia and the investment ecosystem, using structured criteria focused on scalability, feasibility, founder capability and impact potential.
He disclosed that S-VCG in partnership with the Bank of Industry (BOI) will provide up to N50 million in equity-free funding to support student-led ventures that have reached the commercialisation stage.
The Minister described the initiative as a strategic investment in Nigeria’s next generation of innovators and job creators, noting that the outcome reflects the growing creativity and entrepreneurial capacity of Nigerian students.
He further explained that the initiative was designed to enable student-entrepreneurs to scale innovative solutions, stimulate job creation and contribute to innovation-driven economic growth.
“As the programme enters its final stage, the selected innovators will participate in an intensive venture development boot camp from 26 to 29 March 2026, featuring pitch sessions, venture development workshops, live venture evaluations and investor-style feedback to strengthen each venture’s readiness for growth and investment.
“Final grant decisions will be based on application scores, bootcamp performance and the deliberations of the evaluation committee.
“The programme will then culminate in the Student Venture Capital Grant Beneficiary Awards Day, scheduled for Sunday, 29 March 2026, where recipients of the N50 million venture funding will be formally announced,”.he said.
The Minister, however, reinforced the Federal Ministry of Education’s commitment to promoting innovation, supporting student entrepreneurship and building a pipeline of scalable ventures capable of driving Nigeria’s economic transformation.
