Tinubu, Alausa Take Student Innovation Beyond Campus With ₦50m Venture Grants

Jane Salihu

President Bola Ahmed Tinubu and the Minister of Education, Dr. Maruf Tunji Alausa, CON, are stepping up efforts to turn innovation on Nigerian campuses into viable businesses, with 50 student-led ventures set to receive up to ₦50 million each in equity-free funding under the second cohort of the Student Venture Capital Grant (S-VCG).

The initiative is moving beyond the traditional model of supporting student innovators with funding alone, introducing structured mentorship, industry connections and practical business support designed to help young entrepreneurs develop and scale their ventures beyond the university environment.

The National Project Coordinator of the S-VCG, Mr. Adebayo Onigbanjo, disclosed this at a press briefing ahead of a nationwide campus mobilisation campaign scheduled for September 6–30, 2026.

He said the campaign would take the opportunity directly to students across the country, particularly those developing solutions in science, technology, engineering, mathematics and medicine (STEMM), while providing prospective applicants with information on eligibility, application requirements and the selection process.

The S-VCG team will visit nine tertiary institutions across 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, Owerri, Ambrose Alli University, Ekpoma, University of Lagos and Covenant University, Ota.

The Ministry will also activate a Campus Ambassador Programme in 20 additional institutions to widen awareness and encourage more student innovators to take advantage of the opportunity.

Under the second cohort, the selection process has been strengthened with AI-assisted screening and assessment by 10 human evaluators. Shortlisted applicants will make virtual presentations before an Evaluation Committee, while finalists will proceed to a bootcamp and in-person presentations.

A major addition to the programme is a six-month mentorship scheme for successful beneficiaries, connecting student entrepreneurs with experienced organisations and business leaders across technology, logistics, e-commerce, health, education and other sectors.

Supporting organisations include Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth, among others.

The expanded model reflects the Ministry’s focus on ensuring that promising student innovators receive more than financial assistance, giving them access to business networks, mentorship and industry expertise needed to move from proof of concept to sustainable enterprises.

The first S-VCG cycle attracted 17,914 registrations from 404 institutions across all 36 states and the Federal Capital Territory within three weeks of opening in November 2025.

The registrations comprised 348 public and 56 private institutions, with 52 per cent male and 48 per cent female participation. Of these, 3,014 completed submissions underwent AI-assisted screening and assessment by 10 human evaluators.

Sixty-five finalists subsequently advanced to a three-day S-VCG Bootcamp held from March 27–29, 2026, where they presented their ventures before a panel of venture capitalists, industry experts and academic leaders.

The S-VCG, also known as the “Next Moonshot Initiative”, is being implemented under the Nigeria Education Sector Renewal Initiative (NESRI), particularly its STEMM pillar focused on research, innovation and entrepreneurship.

The programme is implemented in partnership with the Tertiary Education Trust Fund (TETFund), Bank of Industry (BOI) and Afara Initiative.

The initiative is open to students developing innovations in areas including health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM-related fields.

Applicants must be currently enrolled in a Nigerian university, polytechnic or college of education and be at least in 300 level or its equivalent. Students below 300 level can participate as members of teams led by qualifying students.

Applicants are also required to have a CAC-registered business name or company, while their projects must have progressed beyond the proof-of-concept stage and demonstrate potential for real-world application.

Applications for the second cohort are open through svcg.education.gov.ng and will close on September 30, 2026.

The initiative is expected to deepen the connection between Nigeria’s tertiary institutions and the private sector while giving young innovators the capital, mentorship and networks required to transform ideas developed in classrooms and laboratories into businesses and solutions with wider economic impact.