FG Shortlists Finalists for ₦50m Student Venture Grant; Top Innovators From 404 Schools Set to Pitch for ‘Equity-Free’ Funding

The Federal Government’s search for Nigeria’s next “Unicorn” has reached a major milestone. On Monday, March 23, 2026, the Minister of Education, Dr. Maruf Tunji Alausa, announced the shortlisting of 65 exceptional student innovators who will now compete for the final ₦50 million Student Venture Capital Grant (S-VCG).

The journey to the shortlist was incredibly competitive. Out of over 30,000 students who applied from both public and private universities and polytechnics, only the top 0.2% made the cut. Minister Alausa described the finalists as a “strategic investment” in the nation’s future, noting that the quality of ideas ranging from AI-driven medical tools to sustainable engineering shows that Nigerian campuses are bubbling with creativity. “Reaching this stage represents a significant milestone,” the Minister said, “and I look forward to seeing these ventures scale and create jobs.”

The S-VCG, which was launched in late 2025 in partnership with the Bank of Industry (BOI), is designed to bridge the gap between classroom research and real-world business. Unlike traditional loans, this grant is equity-free, providing student founders with the capital they need without the pressure of giving up shares in their startups. To ensure fairness, the initial screening used Gemini AI to evaluate thousands of submissions based on their commercial viability and impact.

As the 65 finalists move into the “incubation” phase, they will receive expert mentorship and access to premium tech tools to perfect their business models. The final “Solution” for these young entrepreneurs will be a high-stakes pitch session before a panel of industry leaders and venture capitalists. For the winners, the ₦50 million seed funding could be the spark that transforms a campus project into a global tech giant.