Nigeria’s push to cultivate home-grown innovation has taken a major step forward with the launch of the Student Venture Capital Grant (S-VCG), a bold government-backed initiative offering equity-free grants of up to ₦50 million to student-led ventures.
The STEMM Up Grant, as it is also known forms a key component of President Tinubu’s Renewed Hope Agenda, focused on transforming student-driven ideas into commercially viable, high-impact ventures.
This guide explains, in detail, how the programme works, who is eligible, and provides a step-by-step walkthrough of the onboarding and application process.
How the Student Venture Capital Grant Works
The S-VCG is designed specifically for innovations in STEMMS:
- Science
- Technology
- Engineering
- Mathematics
- Medical Sciences
Grants are equity-free, meaning beneficiaries do not give up ownership in their ventures. Instead, funding is disbursed in stages based on execution milestones.
What the Programme Offers
- Up to ₦50 million per project
- A structured incubation programme
- Expert mentoring
- A transparent tracking process through the S-VCG portal
- Feedback for non-selected applicants, whose innovations remain stored within a national innovation bank
How Funding Is Awarded
The amount each project receives depends on:
- Scale and nature of the idea
- Progress across defined milestones
- Performance during the incubation stage
Projects must also have a CAC-registered business name, a critical requirement often overlooked by applicants.
Eligibility Criteria
To qualify, applicants must:
- Be students of a Nigerian tertiary institution (public or private university, polytechnic, or college of education).
- Be in 300-level or above (students below this level may apply only as part of a team that includes a 300-level student).
- Apply individually or as a team.
- Present a clear business plan with KPIs and expenditure milestones.
- Demonstrate practical, real-world potential.
- Have a CAC-registered business name.
Overview of the Application Process
Applying for the S-VCG involves two key phases:
- Onboarding – Creating your profile and verifying your student identity
- Application – Submitting details about your team, project, documents, milestones and funding needs
What follows is a clear, chronological walkthrough of each step.
Phase 1: Onboarding
This creates your official applicant profile on the S-VCG portal.
Step 1: Begin Registration
- Visit the Student Venture Capital Grant portal.
- Click “Apply Now.”
Step 2: Select Your Role
- Choose “Student”.
- Click “Continue.”
Step 3: Provide Basic Details
- Enter your first name, surname, and active email address.
- A 4-digit OTP will be sent to your email, verify it to proceed.
Step 4: Enter Identification Details
- Provide your phone number and National Identification Number (NIN).
Step 5: Set a Password
- Create a strong password (minimum 8 characters, including uppercase letters, numbers and symbols).
Once completed, a personal dashboard is created for you along with your Application ID.
Phase 2: Applying for the Grant
Before the application begins, you must verify your institution details.
Institution Verification
- On your dashboard homepage, click “Create Application.”
- Provide all required academic details.
- Upload a PDF copy of either your:
- School ID
- Admission letter
- School fees receipt
- Submit to proceed.
Stage-by-Stage Breakdown of the Application
Stage 1: Applicant and Team Identity
You must indicate whether you are applying as:
- Individual, or
- Team
For teams, provide:
- Full name of each member
- Role
- Email address
Save progress or continue immediately.
Stage 2: Project Overview
Here you present a clear snapshot of your innovation.
Provide:
- Project title
- One-sentence summary
- A description of the project and its impact (up to 300 words)
- STEMM category
- Relevant project tags
Save or proceed.
Stage 3: Media & Supporting Documents
This is where many applicants encounter delays, so prepare your files in advance.
You must upload:
- Pitch Deck (PDF, PPT, or PPTX, max 10MB)
- Pitch Video (MP4, MOV, max 20MB)
- Optional external video link
- Prototype image (PNG, JPEG/JPG, max 10MB)
- CAC Business Name Certificate
- Additional documents (e.g., budget, technical specs, certifications)
Save or proceed.
Stage 4: Funding & Milestone Intent
This section determines how funding will be allocated.
You must provide at least three milestones, each with:
- Milestone name
- Description
- Budget
- Timeline (days required)
- Additional assets required
Save or proceed.
Stage 5: Review & Declaration
This is the final step.
- Review all information and uploaded files
- Confirm the declaration
- Submit your application
Once submitted:
- Your dashboard becomes your tracking centre
- Monitor updates from the Ministry of Education’s official channels
Important Notes and Common Technical Issues
During the application process, applicants may occasionally encounter:
- “Internal error” notifications
- File upload failures
- Slow loading pages
To avoid disruptions:
- Be patient and avoid repeated clicks
- Compress files without affecting quality
- Keep file sizes well below the maximum limit
- Ensure strong internet connectivity during uploads
FAQs on Nigeria’s Student Venture Capital Grant
Who can apply for the Student Venture Capital Grant?
Any student enrolled in a Nigerian university, polytechnic, or college of education. Applicants must be in 300-level or above, or partner with someone who is.
Is the grant really equity-free?
Yes. The government does not take ownership or shares in your project. Funding is purely support for innovation.
Do I need a CAC registration to apply?
Yes. Your project or business must have a CAC-registered business name before submitting your application.
What types of projects are eligible?
Only innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMMS) are accepted.
How much can each project receive?
Up to ₦50 million, depending on scale, feasibility, and milestone performance during incubation.
——————-
Bookmark Techparley.com for the most insightful technology news from the African continent.
Follow us on Twitter @Techparleynews, on Facebook at Techparley Africa, on LinkedIn at Techparley Africa, or on Instagram at Techparleynews.
