The federal government has selected 65 student innovators to move to the final stage of its student venture capital grant (SVCG), out of 30,639 applicants drawn from 404 tertiary institutions across the country.
The programme was launched in November 2025 in partnership with the Bank of Industry (BoI). It is designed to offer up to N50 million in non-dilutive funding to student-led businesses that have reached the commercialisation phase.
In a statement released on Monday, Folasade Boriowo, director of press and public relations at the federal ministry of education, said the initiative aims to help young entrepreneurs expand their ideas, generate employment, and support economic growth.
Boriowo explained that the scheme forms part of President Bola Tinubu’s agenda. She noted that the selected finalists are working on solutions in sectors considered vital to national development.
She also said the minister of education, Tunji Alausa, described the programme as a strategic effort to invest in future innovators and job creators. According to her, the minister expressed confidence in the creativity and ambition shown by the participants. He added that reaching this stage represents a major achievement.
“The minister also stressed that the selection process was rigorous and transparent, adding that the programme is helping to build a pipeline of entrepreneurs who will contribute to Nigeria’s economic growth,” Boriowo said.
Boriowo stated that applications first passed through an AI-based screening process to assess eligibility and alignment with the programme’s goals. Human reviewers then conducted further evaluation.
“Entries that passed this stage were then evaluated by a panel comprising representatives from government, academia, industry, and the investment community, using criteria such as scalability, feasibility, founder capability, and impact potential,” she added.
She said the 65 finalists will take part in a venture development bootcamp scheduled for March 26 to March 29.
“The 65 finalists are expected to participate in an intensive venture development bootcamp between March 26 and 29.
“Activities will include pitch presentations, workshops, live assessments, and investor feedback aimed at strengthening their ventures.
“The final grant recipients will be selected based on application scores, bootcamp performance, and recommendations from the evaluation panel.
“The programme will conclude on March 29, 2026, with an awards ceremony where beneficiaries of the N50 million funding will be officially announced.”
