Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.TTTG5555
In a significant move to strengthen Nigeria’s innovation ecosystem and support youth‑driven enterprise, the Federal Government has announced the shortlist of 65 student innovators who will progress to the final stage of the Student Venture Capital Grant (S‑VCG). The names were chosen from an extensive field of 30,639 applicants drawn from 404 tertiary institutions nationwide in a process designed to identify and nurture high‑impact student‑led ventures.
The S‑VCG, a flagship initiative under the administration of President Bola Tinubu launched in December 2025 in partnership with the Bank of Industry, forms part of a broader strategy to stimulate innovation, create jobs and transition promising student projects from concept to commercial viability. Through this programme, selected ventures are eligible to receive up to ₦50 million in equity‑free funding to accelerate scaling, product development, market access and job creation once they clear the final stage of evaluation and pitching.
According to the Director of Press and Public Relations for the Federal Ministry of Education, Folasade Boriowo, the large number of applicants highlights the deep well of creativity and entrepreneurial talent present in Nigeria’s tertiary education system. She said the shortlisted innovators represent ventures with practical solutions across sectors crucial to national development, including technology, healthcare, agriculture, renewable energy and digital services.
The selection process was described as rigorous and transparent, beginning with an initial screening powered by artificial intelligence to ensure eligibility and relevance to the programme’s objectives. This was followed by thorough human validation to confirm the integrity of the applications. A multi‑sector evaluation committee then assessed entries based on key criteria such as scalability, feasibility, founder capability, and the potential social and economic impact of each venture.
Following this comprehensive review, the best 65 student innovators were chosen to participate in the next phase of the competition, which is expected to be highly competitive. The final phase — an intensive venture development bootcamp — is scheduled to take place from March 26 to March 29, 2026. During the bootcamp, candidates will engage in business pitch sessions, expert‑led workshops and live evaluations. Stakeholders and investors will provide feedback aimed at strengthening the ventures’ commercial appeal, strategic direction and investment readiness.
Performance during the bootcamp will be integral to determining the ultimate recipients of the grant. Final decisions will be based on the innovators’ original application strength, their execution and presentation during bootcamp activities, and recommendations from the evaluation panel. The programme is set to culminate with a Student Venture Capital Grant Beneficiary Awards Day on March 29, 2026, where the winners eligible for funding will be publicly announced.
Education officials and government leaders have underscored the initiative’s importance as a strategic investment in Nigeria’s future. The Minister of Education, Dr. Maruf Olatunji Al
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