Nigeria’s Education Ministry opens ₦50M equity-free grant to student founders
- The Federal Ministry of Education has opened applications for the Student Venture Capital Grant.
- Student-led ventures can receive up to ₦50 million in funding without giving away equity.
- Funding is disbursed in tranches based on milestones agreed upon by the teams.
The introduction of the Student Venture Capital Grant represents a significant step forward in supporting young entrepreneurs in Nigeria. By providing substantial funding without equity stakes, the program encourages innovation and formalization among student-led ventures. However, the effectiveness of milestone-based funding in meeting the fast-paced needs of startups remains to be seen.
