By Kwin Israel, The Sight News
The Federal Government has opened applications for the second cohort of its Student Venture Capital Grant, with 50 outstanding student-led ventures across Nigeria to receive up to ₦50 million each to develop and scale their businesses.
The National Coordinator, Special Programme Operations and Implementation Unit, Office of the Minister of Education, Adebayo Onigbanjo, disclosed this while speaking to newsmen in Abuja.
Onigbanjo said the initiative, also known as the Next Moonshot, is designed to identify promising ideas from young Nigerians and provide them with the capital, mentorship and networks needed to transform innovative ideas into viable businesses.
He explained that the programme is particularly focused on strengthening the connection between research and enterprise in Nigeria’s tertiary institutions, noting that while not every research project can become a business, promising innovations with commercial potential can be supported to reach the market.
According to him, the programme is not solely about funding, as successful applicants will also undergo a rigorous selection process involving AI-assisted screening, hands-on evaluation and a three-day boot camp, where finalists will develop and present their ideas to investors.
Beneficiaries will also participate in a six-month mentorship programme, with access to experienced entrepreneurs and firms across sectors including technology, logistics, e-commerce, health and education.
To widen participation, Onigbanjo said the programme team would visit nine tertiary institutions across the country, including the University of Abuja, Nnamdi Azikiwe University, Obafemi Awolowo University, Bayero University Kano, Kano University of Science and Technology, Ahmadu Bello University, University of Lagos and Covenant University.
He added that campus ambassador programmes would extend the initiative to 20 additional institutions across the six geopolitical zones.
Onigbanjo said the initiative builds on the success of the first cohort and is part of the Federal Ministry of Education’s broader reform agenda, particularly its focus on STEM, technical and vocational education, innovation, entrepreneurship, education data and digitalisation.
He stressed that Nigeria has no shortage of innovative young people, but many require the necessary capital and support to turn their ideas into sustainable enterprises.
He therefore urged lecturers, student leaders, institutions and the media to encourage eligible young Nigerians to apply, particularly those developing solutions in health, agriculture, technology, energy, logistics, e-commerce and other sectors.
The Federal Government encouraged young innovators across the country to seize the opportunity to turn their ideas into businesses and practical solutions for national development.
The application portal for the second cohort is currently open and is scheduled to close on September 30, 2026.
