The Federal Government has actually shortlisted 65 trainee innovators from a swimming pool of 30,639 candidates drawn from 404 tertiary institutions nationwide for the last of the Student Venture Capital Grant (SVCG), a flagship initiative aimed at improving youth-driven innovation and entrepreneurship.
The plan, introduced in November 2025 in collaboration with the Bank of Market (BoI), is designed to supply up to N50 million in non-dilutive financing to student-led ventures that have actually reached the commercialisation stage. The program looks for to empower young business owners to scale viable concepts, generate employment, and contribute meaningfully to Nigeria’s financial development.
In a statement issued on Monday, Folasade Boriowo, Director of Press and Public Relations at the Federal Ministry of Education, stated the effort lines up with the administration’s broader vision of cultivating innovation among Nigerian youths. She noted that the shortlisted prospects are working on services across crucial sectors critical to nationwide advancement.
Boriowo priced estimate the Minister of Education,, as describing the effort as a strategic financial investment in the next generation of innovators and job creators, expressing confidence in the imagination and aspiration demonstrated by the finalists.
“The minister explained the initiative as a deliberate financial investment in the next generation of innovators and task developers,” she stated, adding that “the choice procedure was extensive and transparent, and the programme is helping to build a pipeline of entrepreneurs who will add to Nigeria’s financial development.”
She explained that applications underwent an AI-driven screening procedure before human evaluation by a panel consisting of representatives from federal government, academia, industry, and the investment neighborhood. According to her, entries were assessed based upon scalability, expediency, founder capability, and effect potential.
The 65 finalists are anticipated to take part in an intensive endeavor development bootcamp set up for March 26 to 29, featuring pitch discussions, workshops, live assessments, and financier feedback. The programme will culminate in an awards event on March 29, 2026, where beneficiaries of the N50 million funding will be formally revealed