FG opens N50m equity-free grant applications for 50 student STEM ventures
By Aboki Forex —
The Federal Government has opened applications for the second cohort of the Student Venture Capital Grant, offering up to N50 million each to 50 student-led businesses. The programme, known as the Next Moonshot Initiative, focuses on Science, Technology, Engineering and Mathematics (STEM) innovation.
Adebayo Onigbanjo, National Coordinator of the Special Programme Operations and Implementation Unit at the Federal Ministry of Education, announced the opening at a news conference in Abuja on Friday, September 4.
What the grant offers
Onigbanjo said the selected ventures will receive equity-free grants, meaning successful applicants will not give up any ownership stake in their businesses.
“For Cohort 2, we are looking for quality applications from student innovators across Nigeria, from which 50 outstanding ventures will ultimately be selected,” he said.
He added: “Successful applicants will be eligible to receive up to N50 million equity-free grant from the Federal Republic of Nigeria to develop and scale their businesses.”
The coordinator linked the initiative to President Bola Tinubu's Renewed Hope Agenda and the Ministry of Education's Nigeria Education Sector Renewal Initiative, particularly its STEM pillar.
“Nigeria does not lack innovative young people. What many lack is the opportunity and capital to take these ideas further,” Onigbanjo said.
Selection process and mentorship
Applications will first pass through an Artificial Intelligence-assisted screening before 10 human evaluators review them. Shortlisted candidates will then give virtual presentations, and those who advance further will attend a three-day boot camp before pitching in person to an evaluation committee.
Winners also receive six months of mentorship from corporate and entrepreneurial partners, including Lafarge, Cellulant/Childtech, Powerhouse, Co-Creation Hub/African Stalking, LifeBank, Future Africa, GetEquity and One Health.
Roadshow and application deadline
The Student Venture team and its partners will run a nationwide roadshow from September 6 to September 30, 2026, visiting nine institutions across Nigeria's six geopolitical zones. These include the University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bayero University Kano, Kano University of Science and Technology, Federal Polytechnic Kaduna, Ambrose Alli University, the University of Lagos and Covenant University.
The government will also launch a Campus Ambassador Programme at 20 additional tertiary institutions to drive awareness beyond the roadshow stops. Applications close on September 30, 2026.
For Nigerian students building STEM businesses, this grant offers rare patient capital without dilution. If fully utilised, the N50m injection into 50 ventures could help move ideas from campus labs to commercial markets, supporting job creation and innovation in the wider economy.