Unveiling the programme in Abuja, Minister of Education Dr. Tunji Alausa described it as a strategic national investment in young innovators, aligned with President Bola Tinubu’s Renewed Hope Agenda for Education. He emphasized that the initiative goes beyond a simple grant, aiming to identify high-potential student ideas and nurture a culture of creativity and enterprise on campuses.
Under the S-VCG, selected students will receive up to N50 million in equity-free seed funding, complemented by intensive incubation, mentorship from industry experts, access to professional networks, and essential startup-building tools.
The initiative is a collaborative effort between the Federal Ministry of Education, TETFund, the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.
Dr. Alausa explained that the programme is open to full-time students in federal, state, and private tertiary institutions from Year 3 and above, though younger students can participate as team members. Eligible ventures must have a CAC-registered business name and focus on Science, Technology, Engineering, Mathematics (STEM), and Medical Sciences.
“The S-VCG is structured to identify exceptional talent, give them a credible opportunity to succeed, and inspire thousands of others to believe in their capacity to innovate,” Alausa said. “Not every idea will become a startup, but some will evolve into patents and licensable technologies capable of significant impact.”
The application process includes rigorous evaluation, with shortlisted teams pitching their ideas before a 12-member expert panel drawn from academia, industry, venture capital, and government. Participants may also be paired with complementary teams to encourage collaboration and shared innovation.
National Programme Coordinator Mr. Adebayo Onigbanjo said the programme aims to ignite student-driven innovation and address the investment gaps that have historically made venture capitalists hesitant to fund early-stage university projects. Since the portal opened on November 17, it has received 17,914 applications from 402 schools, including 346 public and 56 private institutions, with over 1,000 submissions fully completed.
Former Minister of Power Prof. Barth Nnaji, whose board annually awards a $100,000 prize for groundbreaking scientific innovation, praised the initiative for deepening scientific research and encouraging students and mentors to develop impactful inventions that address local and global challenges.
The application portal will close on January 23, 2026, with evaluations commencing immediately thereafter, the News Agency of Nigeria reports.