The Federal Government has shortlisted 65 student innovators from a total of 30,639 applicants across 404 tertiary institutions for the final stage of the Student Venture Capital Grant (S-VCG). This initiative is a flagship programme of President Bola Ahmed Tinubu, designed to support student-led ventures and strengthen Nigeria’s innovation-driven economy.

The Minister of Education, Dr Maruf Olatunji Alausa, described the development as a major milestone in building a pipeline of innovators and entrepreneurs. He stated, “The quality and ambition demonstrated by these 65 student innovators is deeply encouraging. Reaching this stage represents a significant milestone, and I look forward to the next phase as these ventures are refined and prepared for scale.” He added, “Through this initiative, we are building a strong pipeline of innovators and entrepreneurs who will drive Nigeria’s future growth.”

The selection process involved a multi-stage evaluation, beginning with AI-enabled screening to assess eligibility and alignment with programme objectives. This was followed by human validation and further review by an evaluation committee comprising representatives from government, industry, academia, and the investment ecosystem.

The final selection was based on criteria such as scalability, feasibility, founder capability, and impact potential. The shortlisted innovators will now participate in a venture development bootcamp scheduled for March 26 to March 29, 2026. The bootcamp will feature pitch sessions, workshops, and investor-style evaluations aimed at preparing the ventures for growth and funding. Final grant decisions will be based on application scores, bootcamp performance, and recommendations from the evaluation committee.

The Student Venture Capital Grant was launched in December 2025 to support student-led innovation and entrepreneurship across Nigerian tertiary institutions. The programme, also known as the STEMM Up Grant, was introduced to provide up to N50 million in funding for student ventures with strong commercial potential, particularly in science, technology, engineering, mathematics, and medical sciences.

It specifically targets students in 300-level and above, with selected participants gaining access not just to funding but also mentorship, incubation support, and business development services to help scale their ideas into viable enterprises. The programme is being implemented in partnership with the Bank of Industry (BOI) Nigeria to ensure transparency and measurable outcomes, while also addressing the gap between academic research and commercialisation in Nigeria.