Alausa opens second round of N50m student venture funding
By Uji A Iliyasu, Abuja
The Federal Ministry of Education has opened applications for the second cohort of the Student Venture Capital Grant (S-VCG), with 50 student-led ventures set to receive up to N50 million each in equity-free funding.
The Minister of Education, Dr Maruf Tunji Alausa, is leading the initiative as part of President Bola Ahmed Tinubu’s Renewed Hope Agenda to expand opportunities for young Nigerians through practical enterprise support, the Ministry said.
National Project Coordinator of the S-VCG, Mr Adebayo Onigbanjo, disclosed this at a press briefing ahead of a nationwide campus mobilisation campaign running from 6 to 30 September 2026, designed to take the programme directly to students developing solutions in science, technology, engineering, mathematics and medicine (STEMM).
As part of the campaign, the S-VCG team will visit nine tertiary institutions spanning the six geopolitical zones, including the University of Abuja, Nile University, Abubakar Tafawa Balewa University Bauchi, Bayero University Kano, Kano University of Science and Technology Wudil, Federal Polytechnic Nekede, Ambrose Alli University Ekpoma, the University of Lagos and Covenant University Ota. A Campus Ambassador Programme will also run in 20 additional institutions to broaden awareness.
The Ministry is calling on vice-chancellors, rectors, provosts, lecturers and student leaders to identify promising innovators on their campuses and encourage applications.
For this cohort, the selection process has been strengthened, with applications undergoing AI-assisted screening followed by assessment from ten human evaluators. Shortlisted applicants will make virtual presentations before an Evaluation Committee, while finalists will proceed to a bootcamp and in-person pitching sessions.
A new addition this cycle is a six-month mentorship programme for successful beneficiaries, linking student entrepreneurs with experienced organisations and business leaders across technology, logistics, e-commerce, health and education. Supporting partners include Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth.
The expanded model reflects the Minister’s approach to backing student entrepreneurship with more than funding alone, giving beneficiaries access to mentorship, networks and practical business support as their ventures scale.
The second cohort builds on a strong debut cycle, which drew 17,914 registrations from 404 institutions across all 36 states and the Federal Capital Territory within three weeks of opening in November 2025. Registrations came from 348 public and 56 private institutions, with 52 per cent male and 48 per cent female participation. Of these, 3,014 completed submissions went through AI-assisted screening and review by ten human evaluators, with 65 finalists advancing to a three-day bootcamp held from 27 to 29 March 2026.
Known as the “Next Moonshot Initiative”, the S-VCG falls under the Ministry’s Nigeria Education Sector Renewal Initiative (NESRI), specifically its STEMM pillar on research, innovation and entrepreneurship. It is delivered in partnership with the Tertiary Education Trust Fund (TETFund), the Bank of Industry (BOI) and the Afara Initiative.
The programme is open to students in health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM-related fields. Applicants must be enrolled in a Nigerian university, polytechnic or college of education at a minimum of 300 level, hold a CAC-registered business, and have ventures that have moved beyond proof of concept.
Applications are open at svcg.education.gov.ng and close on 30 September 2026.