FG has launched applications for the latest Student Venture Capital Grant, providing up to N50 million in equity-free support. The initiativ...
- FG has launched applications for the latest Student Venture Capital Grant, providing up to N50 million in equity-free support.
- The initiative for undergraduate pioneers in STEMM stands for Science, Technology, Engineering, Mathematics, and Medicine disciplines.
- Beneficiaries will also gain access to mentorship, and all applicants who submit their applications will be granted a one-year Google Gemini Pro license.
Articlepedia Today.ngBusiness journalist Dave Ibemere brings more than ten years of expertise in financial reporting, possessing comprehensive understanding of the Nigerian economy, stock market, and overall market movements.
The federal government has launched the application portal for the Student Venture Capital Grant (S-VCG), an innovative funding program that provides up to N50 million in non-equity financing for undergraduate students pursuing studies in Science, Technology, Engineering, Mathematics, and Medicine.
The initiative is collaborated with the Bank of Industry (BOI), aiming to assist Nigerian students in turning research, innovations, and concepts into commercially viable products and scalable startups.
As per the government's statement, the program seeks to establish higher education as a hub for technological advancement, employment generation, and internationally competitive innovation.
A declaration on the official page states:
The Nigerian Federal Government is providing young entrepreneurs with as much as N50 million in non-equity funding, along with incubation assistance, training, and guidance, to enhance the country's knowledge-based economy and promote national growth.
What is the Student Venture Capital Grant (S-VCG)?
The S-VCG — formally Science, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Funding— is a state-sponsored funding opportunity that aids student entrepreneurs in creating innovative, market-viable solutions.
The grant provides:
- As much as ₦50 million equity-free financing per initiative
- Business incubation and mentorship
- Enterprise development support
- A one-year Google Gemini Pro subscription available to all applicants who submit proposals
The government states that the goal is to assist inventors from the initial concept through to product launch, without needing them to surrender control of their projects.
The education minister, Tunji Alausa, stated that the project is in line with the strategy to develop "a skilled, innovative workforce able to compete on the world stage."
Who can apply?
To qualify, applicants must:
- Be Nigerian students pursuing undergraduate studies at recognized universities, polytechnics, or teacher training institutions.
- Engage in a project based in STEM disciplines
- Demonstrate business opportunity, growth capacity, and effective solution capabilities
- Provide valid evidence of enrollment
While primarily aimed at 300-level students and higher, the Nation states that all full-time STEMM undergraduate students with feasible innovations are eligible.
Applicants must upload:
Student identification and enrollment/registration papers
A comprehensive project plan detailing the issue, approach, process, and commercial potential
Biographies of team members and their designated positions
Which kinds of initiatives are eligible?
Eligible categories include:
- The field of artificial intelligence and machine learning
- Healthcare technology, medical equipment, biotech innovations
- Sustainable and eco-friendly energy alternatives
- Mechatronics, mechanization, data analysis, cutting-edge production
- Environmental and climate-focused technologies
Beneficiaries will get capital without equity, organized incubation, and professional business assistance, while those not selected will still have access to high-quality digital resources for ongoing skill enhancement.
FG extends invitation to Nigerian youth for oil and gas employment training
Earlier,Articlepedia Today.ngreported that the Nigerian Content Development and Monitoring Board (NCDMB) has introduced a new educational initiative designed to provide 10,000 young Nigerians with essential skills needed for jobs in the oil and gas sector.
The program, referred to as the NCDMB Oil and Gas Field Readiness Training Initiative, aims to equip Nigerian graduates and technical personnel with the skills needed for new prospects in the oil and gas industry.
The program is available for Nigerians under 35 years old who have OND, HND, or B.Sc. degrees.
