Complete guide to applying for the FG’s N50 million student venture capital grant

The Federal Government recently opened applications for the Student Venture Capital Grant (S-VCG), an initiative designed to support student-led ventures with equity-free grants of up to ₦50 million.

According to the Minister of Education, Dr Tunji Alausa, the program has been designated as the government’s latest effort to discover high-potential innovators across Nigerian tertiary institutions. Aside from the grant, he added that successful applicants will be included in a comprehensive support system that includes an incubation program and expert guidance.

“The President has challenged us to look for the next moonshot within our tertiary institutions. We are not just looking for projects; we are scouting for future Nigerian unicorns whose roots will be planted right here in our universities and colleges. This is an equity-free seed investment in Nigeria’s future,” he said.

The Student Venture Capital Grant, also known as the STEMM Up Grant, was first announced in July and officially launched on August 2. It forms part of President Tinubu’s Renewed Hope Agenda, which aims to nurture student innovations into commercially viable and high-impact ventures.

For the program, the specific amount awarded to each project will depend on its scale, nature, and progress through particular milestones, which are tracked during an incubation period. 

This article provides a complete guide to onboarding and applying for the student venture capital grant.

How the student venture capital grant works

The program is only open to ideas, solutions, projects, or businesses that fall under STEMMS: Science, Technology, Engineering, Mathematics, and Medical Sciences.

Applicants need a clear business plan that includes expenditure milestones and key performance indicators (KPIs). The idea must be practical and demonstrate real-world potential. However, the project or innovation must have a business name registered with a CAC-registered company in Nigeria.

First Stage: Students or teams will upload their business details, pitch video, and funding request through the Student Venture Capital Grant application portal. 

Second Stage: Applications will go through multiple review rounds by the panel. Non-selected projects will also receive structured feedback and remain visible in the innovation bank or storage.

Third Stage: Shortlisted teams will work through a structured validation process to refine their solution, strengthen their business model, and prepare for milestone activation. This stage is meant for fine-tuning ideas.

Fourth Stage: Selected teams unlock funding in tranches upon reaching specific milestones. They will be guided during the incubation period and tracked transparently through the Student Venture Capital Grant portal. 

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On eligibility 

• Student currently enrolled in a Nigerian public and private tertiary institution, including universities, polytechnics, and colleges of education.
• Students must be at least 300-level or its equivalent. However, students in lower-level classes can participate, but they’ll need to team up with a student in a 300-level class or above.
• Students can apply individually or as a team.
• A business plan

How to apply

The student venture capital grant application process consists of two major stages: the onboarding stage and the application for a grant.

Onboarding

This is where you set up an account on the S-VCG portal.

Step 1: Log in to the Student Venture Capital Grant portal on your browser, and tap “Apply Now.”

Step 2: Select “Student” as the role, then click on “Continue.”

Step 3: Supply your First Name, Last Name and active email address. A 4-digit one-time password (OTP) will be sent to your email. 

Step 4: Supply your Phone Number and NIN. 

Step 5: Create a strong password (8 characters, including uppercase letters, a number and a symbol). 

A dashboard will be created for you, and it’s all set up for your grant application. You’ll also be provided with an Application ID.

Application

Before starting your application journey, you’ll be required to supply institution details for verification.

• At the homepage of your dashboard, click on “Create Application.”
• At the educational section, supply the necessary institutional details as required.
• At the upload section, provide a PDF copy of your school ID, admission letter or school fee receipt.
• Click on upload, then submit. You’re set up for a grant application.

Stage 1: Applicant and Team Identity

Click on “Individual” if you’re the only person in your team. Click on “Team” if you have others working alongside for the innovation. 

For Team, you’ll be required to provide their name, role within the team and email address. 

You can either save your progress to continue later or submit to move to the next stage.

Stage 2: Project Overview 

You’ll be required to describe your innovation by supplying;

• Project tittle
• Summary of your project in one sentence 
• Description of your project and its impact. (Maximum of 300 words).
• Select the STEMM category your project belongs to and supply project tags. 
• Click on save to continue or proceed to Stage 3.

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Stage 3: Media & Supporting Document

Here, you’ll be submitting media files (doc, image and video) of your project.

• Pitch Deck: Upload a PDF, PPT, or PPTX file of your project pitch. (Maximum file size is 10MB). After selecting the file from your device storage, click on upload.
• Pitch Video: Upload an MP4, mov or MOV copy at a maximum of 20MB.
• Supply an external video link with respect to your project. However, this is optional. 
• Upload a prototype image of your project in PNG, JPEG, or JPG file format. Maximum of 10MB
• Upload a business name document. Here is where you submit the CAC registration certificate.
• Upload an additional document. It can be one or a combination of your budget, technical specifications and certifications. 
• Click on save to continue or proceed to Stage 4.

Stage 4: Funding & Milestone Intent 

Here, you’ll be required to provide a stage-by-stage execution of your project. It’s a Breakdown of how you intend to execute the project. You must submit at least 3 milestones. 

Each milestone requires details such as name, description, budget, number of days required for execution and an additional asset.

Click on save to continue or proceed to the final stage.

Stage 5: Review and Declaration 

You review all details entered and files uploaded during the previous stages. Read, attest to the declaration and submit your application.

After submission, 

• Start tracking your student venture capital Grant on your dashboard. 
• Stay updated on the Federal Ministry of Education’s social handles for future announcements. 

Note: During the application process, you may encounter technical issues, such as an “internal error” during the file uploading stage. The portal, at some point, rejects some files or stops loading. Exercising patience with the portal is necessary, and ensure you don’t upload a file that is near the maximum capacity.