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

According to a statement issued by the Director of Press and Public Relations at the Federal Ministry of Education on Monday, Boriowo Folasade, the programme will conclude with the SVCG Beneficiary Awards Day on March 29, 2026, during which the recipients of the N50 million venture funding will be officially unveiled.

However, the statement did not disclose the total number of beneficiaries to be selected for the final.

The statement noted that the milestone reinforces the Ministry’s commitment to promoting innovation, supporting student entrepreneurship and building a pipeline of scalable ventures capable of driving Nigeria’s economic transformation.

Announcing the development, the Minister of Education, Dr Tunji Alausa, described the initiative as a strategic investment in Nigeria’s next generation of innovators and job creators, noting that the outcome reflects the growing creativity and entrepreneurial capacity of Nigerian students.

“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.

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

“The initiative is designed to enable student entrepreneurs to scale innovative solutions, stimulate job creation and contribute to innovation-driven economic growth.

The statement explained that the selection of the 65 finalists followed a transparent and rigorous multi-stage evaluation process, adding that applications first underwent 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 subsequently reviewed by an evaluation committee comprising representatives from government, industry, academia and the investment ecosystem, using structured criteria focused on scalability, feasibility, founder capability and impact potential.

“As the programme enters its final stage, the selected innovators will participate in an intensive venture development bootcamp from 26 to 29 March 2026, featuring pitch sessions, venture development workshops, live venture evaluations and investor-style feedback to strengthen each venture’s readiness for growth and investment.

“Final grant decisions will be based on application scores, bootcamp performance and the deliberations of the evaluation committee,” the statement added.