FG Narrows 30,000 Applicants to 65 for N50m Student Venture Fund

Nigeria’s push to build a pipeline of young innovators has narrowed to 65 finalists, as the Federal Government selects student entrepreneurs for the next phase of its N50 million Student Venture Capital Grant programme.

The shortlist was drawn from over 30,000 applications submitted by students across more than 400 tertiary institutions nationwide, according to the Federal Ministry of Education.

The initiative, a flagship programme under President Bola Tinubu’s administration, is designed to support student-led startups with strong commercial potential and contribute to Nigeria’s innovation-driven economy.

Officials said the selection process involved multiple stages, including AI-driven screening, human validation and final evaluation by a panel made up of representatives from government, academia, industry and the investment community.

The finalists will participate in a venture development bootcamp scheduled for March 26 to 29, where they will undergo training, pitch their ideas and receive investor-style feedback before final funding decisions are made.

The programme, launched in late 2025 in partnership with the Bank of Industry, offers up to N50 million in equity-free funding to student ventures, particularly in science, technology, engineering, mathematics and medical sciences.

Education minister Maruf Olatunji Alausa described the development as a key step in building a new generation of entrepreneurs capable of driving innovation, job creation and long-term economic growth.