Applications are open for the second cohort of the Student Venture Capital Grant (S-VCG), also known as the Next Moonshot Initiative, following the success of the first cohort, which drew 17,914 registrations from 404 institutions across all 36 states and the FCT. The Federal Government of Nigeria, through the Federal Ministry of Education, launched the S-VCG to provide equity-free funding to promising student-led ventures and support young innovators in turning their ideas into sustainable businesses. For Cohort 2, 50 STEMM-based, student-led ventures will receive up to ₦50 million each, alongside six months of mentorship to help them develop, scale, and take their ideas to market.
Key Eligibility Criteria
To qualify for the grant, applicants must meet all of the following requirements:
- Enrollment: Be a Nigerian student currently enrolled in an accredited tertiary institution.
- Focus Area: Be developing a STEMM-based venture or innovative solution.
- Venture Potential: Have an idea that demonstrates scalability and market relevance.
- Impact: Be addressing a critical national or global challenge.
Applicants are encouraged to submit proposals that show the potential to develop into commercially viable and high-impact businesses.
Grant Benefits
- Funding: Up to ₦50 million per venture, with no equity given up.
- Mentorship: Six months of mentorship to help develop, scale, and bring ideas to market.
- Outreach: The S-VCG management team is visiting institutions across Nigeria's six geopolitical zones, and a Campus Ambassador Programme will run across 20 additional institutions to expand awareness and participation.
Selection Process
Applications go through AI-assisted screening and review by 10 human evaluators. Shortlisted applicants make virtual presentations before an Evaluation Committee, and finalists attend a bootcamp and pitch in person.
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How to Apply
Eligible students with innovative STEMM-based ventures can apply through the official S-VCG application portal before the deadline of September 30, 2026.
Disclaimer
Edfrica shares opportunities for informational purposes only. Results and funding outcomes are not guaranteed.
