SEDC Announces Winners of Maiden Venture Capital Programme

The South East Development Commission (SEDC) has announced the winners of the inaugural South East Venture Capital Program (SEVCP) Pitch Competition.

This marks a major milestone in the Commission’s commitment to building a globally competitive innovation and enterprise ecosystem across the South East region of Nigeria.

The competition, which concluded with a high-level Finals Day and Investment Ceremony, featured some of the most promising startups and emerging businesses from across the region.

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Spanning sectors include healthcare, artificial intelligence, clean energy, mobility, agriculture, fintech, legal technology, commerce, logistics, education technology, and public infrastructure innovation.

Speaking on the significance of the initiative, the Managing Director/Chief Executive Officer of the South East Development Commission, Mr. Mark Okoye stated that the Commission remains committed to identifying and supporting indigenous entrepreneurs capable of building scalable businesses that can drive industrialisation, create jobs, attract investment, and reposition the South East as a leading innovation destination on the continent.

According to him, the South East Venture Capital Program is not merely a startup competition but a long-term economic development strategy designed to unlock the entrepreneurial potential of the region and strengthen the pipeline of investable businesses emerging from the South East.

“The selected startups will receive a combination of financial support, business advisory services, investor access, mentorship, technical support, ecosystem partnerships, and post-program growth opportunities aimed at helping them scale sustainably and become investment-ready enterprises,” Mr. Okoye said.

He noted that the SEDC also reaffirmed its commitment to continued collaboration with venture capital firms, development institutions, innovation hubs, academic institutions, corporate partners, and ecosystem stakeholders to deepen entrepreneurial opportunities and innovation-driven economic growth across the region.

The Commission commended all participating founders, judges, mentors, investors, sponsors, and ecosystem partners whose contributions ensured the successful execution of the inaugural edition of the program.

The SEVCP was structured across two tracks: an Incubator Track and an Accelerator Track.

The Incubator Track supported early-stage startups with foundational business support and venture readiness, while the Accelerator Track focused on more mature startups with scalable business models and stronger market traction.

Following a rigorous accelerator and evaluation process involving investors, ecosystem leaders, business executives, and industry experts, ten startups successfully emerged from the IncubatorTrack, while fifteen startups emerged from the Accelerator Track.

Originally, the accelerator component of the program was designed to support twenty startups from an anticipated cohort of thirty finalists.

However, following the conclusion of the pitch competition, during which twenty-five startups ultimately pitched before the judging panel, the number of accelerator winners were adjusted to fifteen in order to preserve the competitiveness, quality threshold, and integrity of the selection process while maintaining the originally intended success ratio for the cohort.

According to the SEDC, the SEVCP represents the beginning of a broader long-term strategy to catalyze innovation-led growth, strengthen enterprise development, and build a more prosperous and globally competitive South East economy through strategic investment in talent, technology, and entrepreneurship.

The SEDC Grand Finale of the inaugural SEVCP), was held in Enugu, the capital of Enugu state, south East Nigeria.

It brought together 50 finalist ventures selected from a highly competitive pool of over 1,200 applications received from entrepreneurs across the South East and beyond.