FG shortlists 65 student entrepreneurs for N50m funding

The Federal Government has shortlisted 65 student entrepreneurs from a pool of 30,639 applicants across 404 tertiary institutions nationwide for the final stage of the Student Venture Capital Grant (S-VCG), a flagship initiative of President Bola Ahmed Tinubu aimed at accelerating high-impact student-led ventures.

According to the Federal Ministry of Education, the milestone underscores the depth of innovation, creativity and entrepreneurial potential within Nigeria’s university ecosystem, with shortlisted students developing scalable solutions across sectors critical to national development.

In a statement issued on Monday in Abuja by Boriowo Folasade, the ministry’s Director of Press and Public Relations, Maruf Olatunji Alausa, Minister of Education, described the initiative as a strategic investment in Nigeria’s next generation of innovators and job creators.

“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. Through this initiative, we are building a strong pipeline of innovators and entrepreneurs who will drive Nigeria’s future growth,” the Minister said.

Launched in December 2025 in partnership with the Bank of Industry, the Student Venture Capital Grant provides up to N50 million in equity-free funding to support student-led ventures that have reached the commercialisation stage.

The programme is designed to help young entrepreneurs scale innovative solutions, stimulate job creation and contribute to Nigeria’s innovation-driven economy.

The selection of the 65 finalists followed a rigorous multi-stage evaluation process.

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Applications were first subjected to AI-enabled screening to assess eligibility, completeness and alignment with programme objectives, followed by independent human validation to ensure accuracy and fairness.

Shortlisted ventures were then reviewed by an evaluation committee comprising representatives from government, industry, academia and the investment ecosystem. The assessment was based on structured criteria including scalability, feasibility, founder capability and impact potential.

As the programme enters its final phase, the selected innovators will participate in an intensive venture development bootcamp scheduled for March 26 to 29, 2026. The bootcamp will feature pitch sessions, venture development workshops, live evaluations and investor-style feedback aimed at strengthening each venture’s readiness for growth and investment.

Final grant decisions will be based on application scores, performance during the bootcamp and the deliberations of the evaluation committee.

The programme will culminate in the Student Venture Capital Grant Beneficiary Awards Day on March 29, where recipients of the N50 million funding will be formally announced.

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The initiative, according to the ministry, reinforces the government’s commitment to promoting innovation, supporting student entrepreneurship and building a pipeline of scalable ventures capable of driving Nigeria’s economic transformation.