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The South East Development Commission (SEDC) has selected 25 startups for strategic funding and business support under the inaugural South East Venture Capital Program (SEVCP), a flagship initiative aimed at strengthening entrepreneurship, innovation and investment across the South East region.
The announcement followed the conclusion of the programme’s pitch competition and investment ceremony, which brought together investors, business leaders, innovation ecosystem stakeholders and emerging entrepreneurs from across the region.
The selected startups emerged after an extensive screening, incubation and accelerator process designed to identify high-potential businesses capable of driving economic growth, creating jobs and attracting investment to the South East.
The programme was structured into two categories: an Incubator Track for early-stage startups requiring foundational support and venture readiness, and an Accelerator Track targeted at more mature businesses with proven concepts, stronger market traction and greater scaling potential.
At the end of the selection process, 10 startups emerged from the Incubator Track, while 15 others were selected from the Accelerator Track.
Speaking on the significance of the initiative, Managing Director and Chief Executive Officer of the South East Development Commission, Mark Okoye II, said the programme forms part of a broader strategy to reposition the South East as a leading hub for innovation, enterprise and investment.
According to him, the Commission is committed to identifying and supporting entrepreneurs with the capacity to build sustainable businesses that can contribute meaningfully to the region’s economic transformation.
“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,” he said.
Okoye noted that the venture capital programme goes beyond a conventional startup competition, describing it as a deliberate economic development intervention designed to unlock the entrepreneurial potential of the region.
“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,” he stated.
The initiative comes amid growing recognition of the role innovation-driven enterprises can play in addressing unemployment, stimulating productivity and diversifying regional economies. Across Nigeria, startup ecosystems have increasingly become important drivers of investment and job creation, particularly in technology, healthcare, agriculture, financial services and clean energy.
SEDC said the selected startups will receive a comprehensive package of support, including financial assistance, mentorship, business advisory services, investor access, technical support and post-programme growth opportunities intended to help them scale and become investment-ready.
The Commission explained that although the accelerator component of the programme was initially designed to support 20 startups from a projected pool of 30 finalists, the number of successful participants was eventually reduced to 15 following the final pitch session.
According to SEDC, 25 startups ultimately pitched before the judging panel, prompting organisers to maintain a more competitive selection threshold.
The Commission said the adjustment was necessary “to preserve the competitiveness, quality threshold and integrity of the selection process while maintaining the originally intended success ratio for the cohort.”
The startups selected under the Incubator Track include Health Vault NG Ltd, Vibet Bio, Wattmuse Energy, KoboTrac, Simsak, Growdex, Farmi AI Ltd, CNG Protect, Linia Finance and Keke Ride.
Those selected under the Accelerator Track are Ondigo Technologies Limited, Skilladder, KIRA AI Limited, RapidMedicare Limited, SmartAirs, Bra-X, Stur Africa, Nigenius, SpaceOps, FLOF CO, Case Radar, Smart Transport Grid Limited (STRAG), 8Bit Digital Systems Limited, Climax Green (Agrofuxion) and Afiari.
The Commission also reaffirmed its commitment to working with venture capital firms, development institutions, innovation hubs, academic institutions and private-sector partners to deepen entrepreneurial opportunities across the region.
It commended participating founders, judges, mentors, investors and ecosystem partners for their contributions to the successful implementation of the maiden edition of the programme.
In a statement signed by the Executive Director, Finance, and Chairman of the South East Venture Capital Program, Stanley Ohajuruka, the Commission described the initiative as the beginning of a broader long-term strategy to drive innovation-led growth and enterprise development in the region.
SEDC, established as a federal statutory body to promote economic development, reconstruction and regional transformation across the South East states of Abia, Anambra, Ebonyi, Enugu and Imo, said the venture capital programme aligns with its wider mandate of investment mobilisation, institutional strengthening and sustainable economic development.
With the conclusion of the inaugural programme, attention is expected to shift toward the implementation phase, where the selected startups will seek to convert innovative ideas into scalable businesses capable of attracting private capital and contributing to the region’s long-term economic competitiveness.
