FG Launches N50m Grants for Student Ventures Nationwide

The Federal Government of Nigeria has initiated the second cohort of its Student Venture Capital Grant, known as the Next Moonshot Initiative, aimed at supporting student entrepreneurs with Science, Technology, Engineering, and Mathematics (STEM) business ideas. Announced by Adebayo Onigbanjo, the National Coordinator of the Special Programme Operations and Implementation Unit at the Federal Ministry of Education, the program will provide up to N50 million in equity-free grants to 50 selected ventures.

Onigbanjo emphasized the need for quality applications from student innovators across Nigeria, stating that successful applicants would receive funding to develop and scale their businesses. This initiative aligns with President Bola Tinubu’s Renewed Hope Agenda and is part of the Nigeria Education Sector Renewal Initiative.

Applications will be screened using Artificial Intelligence before being evaluated by human assessors. A nationwide roadshow will take place from September 6 to September 30, visiting nine tertiary institutions to encourage applications.