FG Picks 65 Students for Final Stage of N50m Venture Fund

The Federal Government has selected 65 student innovators for the final round of its Student Venture Capital Grant after receiving 30,639 applications from 404 tertiary institutions across Nigeria.

The update was shared by the Federal Ministry of Education, which said the programme is one of President Bola Ahmed Tinubu’s flagship efforts to support student entrepreneurship and strengthen Nigeria’s innovation-driven economy.

Education ministry says shortlist reflects strong student potential

Minister of Education, Dr Maruf Olatunji Alausa, described the development as a major step in building a pipeline of young innovators and entrepreneurs.

He said the quality, ambition, and creativity shown by the 65 finalists is encouraging and signals strong promise for the next phase of the programme. According to him, the initiative is helping to shape a new generation of founders who can contribute meaningfully to Nigeria’s future growth.

How the students were selected

The ministry explained that the selection process passed through several stages.

It began with an AI-supported screening process to assess eligibility and determine whether each application aligned with the programme’s objectives. After that, applications underwent human validation and were later reviewed by an evaluation committee comprising representatives from government, academia, industry, and the investment ecosystem.

The final shortlist was based on key factors including scalability, feasibility, founder capability, and the potential impact of each venture.

Bootcamp to decide final grant recipients

The 65 shortlisted innovators will now move to the next stage, a venture development bootcamp scheduled for March 26 to March 29, 2026.

The bootcamp will include workshops, pitch sessions, and investor-style assessments designed to help participants refine their business ideas and prepare them for growth. Final decisions on grant recipients will be based on their application scores, performance during the bootcamp, and recommendations from the evaluation committee.

What the student venture fund is about

The Student Venture Capital Grant, also known as the STEMM Up Grant, was launched in December 2025 to support student-led innovation and entrepreneurship in tertiary institutions across Nigeria.

The programme offers up to N50 million in funding for student ventures with strong commercial potential, especially in science, technology, engineering, mathematics, and medical sciences.

It is specifically targeted at students in the 300-level and above.

More than just funding

Beyond financial support, selected students will also receive mentorship, incubation support, and business development services to help them scale their ideas into viable businesses.

The programme is being implemented in partnership with the Bank of Industry to promote transparency and measurable outcomes. It is also expected to help close the long-standing gap between academic research and commercialisation in Nigeria.