The Federal Government has shortlisted 65 student innovators from a total of 30,639 applicants across 404 tertiary institutions nationwide for the final stage of the Student Venture Capital Grant.
According to reports, this was disclosed in a statement issued on Monday by the Director of Press and Public Relations, Federal Ministry of Education, Folasade Boriowo.
According to the ministry, the selected students are developing solutions across key sectors considered vital to national development.
The initiative, a flagship programme of President Bola Tinubu, is aimed at boosting innovation and entrepreneurship among young Nigerians.
The Ministry noted that the programme is designed to support young innovators whose ideas have strong potential for scalability and impact.
Speaking on the development, the Minister of Education, Maruf Alausa, described the initiative as a strategic investment in the country’s future.
“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,” he said.
The Student Venture Capital Grant, launched in December 2025 in partnership with the Bank of Industry, offers up to N50m in equity-free funding to student-led ventures that have reached the commercialisation stage.
The programme is expected to help beneficiaries scale their ideas, create jobs and contribute to economic growth.
The ministry explained that the selection process involved multiple stages to ensure transparency and merit.
Applications were first subjected to AI-enabled screening to assess eligibility and alignment with programme objectives, followed by human validation.
Shortlisted entries were thereafter evaluated by a committee comprising representatives from government, academia, industry and the investment community, using criteria such as scalability, feasibility, founder capability and impact potential.
The 65 finalists are expected to participate in an intensive venture development bootcamp scheduled for March 26 to 29, 2026.
The bootcamp will feature pitch sessions, workshops, live evaluations and investor-style feedback aimed at strengthening the ventures.
Final decisions on grant recipients will be based on application scores, performance during the bootcamp and recommendations of the evaluation committee.
The initiative will culminate in the Student Venture Capital Grant Beneficiary Awards Day on March 29, 2026, where successful recipients of the N50m funding will be officially announced.
The ministry said the programme underscores its commitment to fostering innovation, supporting student entrepreneurs and building scalable ventures capable of transforming Nigeria’s economy.