The Nigerian Federal Government has officially opened applications for Cohort 2 of its Student Venture Capital Grant, also known as the Next Moonshot Initiative, which offers up to ₦50 million in equity-free funding to 50 outstanding student-led enterprises across the nation. Announced by Adebayo Onigbanjo, National Coordinator at the Federal Ministry of Education, the initiative targets student innovators with Science, Technology, Engineering, and Mathematics (STEM) business ideas from universities, polytechnics, and colleges of education. Aligning with President Bola Tinubu’s Renewed Hope Agenda and the broader Nigeria Education Sector Renewal Initiative, the program aims to turn academic campuses into active hubs for innovation by providing critical capital that young entrepreneurs often lack.
To select the final 50 ventures, applications will first undergo an AI-assisted initial screening before being evaluated by a panel of 10 human assessors. Candidates who advance will deliver virtual pitch presentations, while finalists will participate in an intensive three-day boot camp culminating in an in-person pitch before an evaluation committee. Selected ventures will gain access to funding alongside six months of corporate mentorship supported by prominent industry partners, including Lafarge, Cellulant, Powerhouse, Co-Creation Hub, LifeBank, Future Africa, GetEquity, and One Health.
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To maximize national participation across all six geopolitical zones, the Student Venture team is embarking on a nationwide application roadshow from September 6 to September 30, visiting nine key institutions including the University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bayero University Kano, Kano University of Science and Technology, Federal Polytechnic Kaduna, Ambrose Alli University, University of Lagos, and Covenant University. A Campus Ambassador Programme will also activate across 20 additional tertiary institutions to drive awareness before applications officially close on September 30, 2026.
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