The South East Development Commission (SEDC) has announced the completion of the first phase of its South East Venture Capital Program (SEVCP) Pitch Competition, with 210 startups progressing to the next stage.

In a statement issued on Thursday in Abuja, the Commission said the selected startups were drawn from more than 1,200 applications submitted across the South East.

The statement, signed by the Executive Director, Finance and Chairman of the programme, Rt. Hon. Stanley Ohajuruka, said the shortlisted firms comprise 128 startups in the Incubator Track and 82 in the Accelerator Track.

He noted that the selection followed a detailed and structured evaluation process.

The Commission described the outcome as a milestone in its efforts to strengthen innovation and entrepreneurship in the region.

According to Ohajuruka, the volume and quality of applications received highlight increasing entrepreneurial activity and a shift towards technology-driven ventures in the South East.

He added that strict criteria were applied during the selection process to ensure transparency and maintain standards.

It said, “The evaluation process was designed to ensure fairness, consistency, and alignment with the objectives of the program. Applications were first screened for eligibility, including demonstrable ties to the South East, the presence of a meaningful technology component, and full compliance with submission requirements.

“Eligible startups were then assessed across key criteria such as problem–solution fit, execution, market opportunity, and technology. For more advanced ventures, traction and revenue were critical considerations, while early-stage startups were evaluated based on validation and evidence of emerging demand.”

According to the statement, the startups that made it to the next stage showed strong potential for growth and scalability.

It reads, “The startups advancing to this stage have demonstrated clarity of thought, tangible progress, and credible potential for scale. They now proceed to the next phase of the competition, which will involve a video pitch assessment designed to provide deeper insight into founder capability, strategic thinking, and execution readiness.”

The Commission further announced that the competition would climax in May with a grand finale and investment ceremony.

“The competition will culminate in a Grand Finale scheduled for Monday, May 25, 2026, where top- performing startups will present their ventures before a live audience of investors, operators, policymakers, and other key stakeholders within the innovation ecosystem.

“This will be followed by an Investment Ceremony scheduled for Tuesday, May 26, 2026, where selected startups will receive funding and enter the next phase of structured support under the SEVCP,” it read.

Reaffirming its commitment to regional development, the Commission stated, “The South East Development Commission remains committed to building a strong pipeline of investable ventures, strengthening the regional innovation ecosystem, and creating pathways for startups to scale sustainably.”

It also appreciated contributors to the programme’s implementation.

“We extend our appreciation to all founders who applied and to our ecosystem partners, Genesys Tech Hub, Startup South, and The Garage, for their role in supporting a credible and high-quality evaluation process. The work continues.” (The Nation)

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