The South East Development Commission (SEDC) has announced the selection of 25 startups for its inaugural South East Venture Capital Program. This initiative marks a significant step towards cultivating a globally competitive innovation and enterprise ecosystem within the region.
The announcement followed the program’s Finals Day and Investment Ceremony in Enugu. Emerging businesses from across the South East presented innovative solutions in diverse fields including healthcare, artificial intelligence, clean energy, agriculture, fintech, mobility, legal technology, logistics, education technology, commerce, and public infrastructure.
The South East Venture Capital Programme was structured into two distinct categories: an Incubator Track designed for early-stage startups, and an Accelerator Track for businesses with scalable models and established market traction.
Following a rigorous selection process involving investors, business executives, ecosystem leaders, and industry experts, 10 startups were chosen for the Incubator Track, while 15 startups were selected for the Accelerator Track.
Mark Okoye II, the Managing Director and Chief Executive Officer of the SEDC, stated that the program is integral to a broader strategy aimed at unlocking the entrepreneurial potential of the South East and establishing it as a premier innovation hub on the African continent.
Okoye highlighted the Commission's focus on identifying and supporting indigenous entrepreneurs who can build sustainable businesses, thereby driving industrialization, creating jobs, and attracting investment into the region.
“The South East Venture Capital Programme 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,” Okoye remarked.
The selected startups are set to receive comprehensive support, including financial aid, mentorship, technical assistance, access to investors, business advisory services, ecosystem partnerships, and post-programme growth opportunities to facilitate sustainable scaling.
This program arrives at a time of heightened national discourse on youth unemployment, access to startup funding, and regional economic competitiveness. Industry analysts have consistently identified inadequate capital access and weak institutional support as major hurdles for young entrepreneurs, particularly outside Lagos, which remains Nigeria's dominant startup ecosystem.
Given the South East's reputation as one of Nigeria's most commercially active regions, initiatives like this venture capital program are expected to help bridge the funding gap for local innovators and promote technology-driven enterprise development.
Initially, the accelerator component was planned to support 20 startups from an anticipated pool of 30 finalists. However, the Commission noted that only 25 startups ultimately pitched, leading to a revised number of awardees.
The Commission explained that the reduction in the number of accelerator winners to 15 was to maintain the program's integrity and competitiveness. The statement read, “Following the conclusion of the pitch competition, during which twenty-five startups ultimately pitched before the judging panel, the number of accelerator winners was 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.”
The startups selected under the Incubator Track are 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 include Ondigo Technologies Limited, Skilladder, KIRA AI LIMITED, RapidMedicare Limited, SmartAirs, Bra-X, Stur Africa, Nigenius, SpaceOps, FLOF CO, Case Radar, Smart Transport Grid Ltd, 8Bit Digital Systems Limited, CLIMAX GREEN and Afiari.
The diversity of sectors represented by the selected startups reflects the growing sophistication of entrepreneurship in the South East, particularly in emerging areas like artificial intelligence, climate innovation, digital health, clean energy, and smart mobility solutions.
The SEDC reaffirmed its commitment to enhancing collaboration with venture capital firms, development institutions, innovation hubs, academic institutions, corporate organizations, and ecosystem stakeholders to foster innovation-driven growth across the region.
The Commission extended commendations to founders, judges, mentors, investors, sponsors, and development partners for their contributions to the successful execution of the program's maiden edition.
“The SEVCP represents the beginning of a broader long-term strategy to catalyse 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 statement concluded.
The South East Development Commission is a federal statutory body established to drive economic development, reconstruction, and regional transformation across Abia, Anambra, Ebonyi, Enugu, and Imo states. Its mandate includes infrastructure development, investment mobilization, institutional strengthening, and strategic program delivery aimed at accelerating economic growth in the region.
The South East Venture Capital Programme is one of the Commission’s key initiatives designed to support entrepreneurship and position the region to compete more effectively in Nigeria’s rapidly expanding innovation economy.
