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The South East Development Commission (SEDC) has commenced the grand finale of its inaugural South East Venture Capital Programme (SEVCP), a flagship initiative aimed at improving access to growth capital for businesses in the region.
The event, held at the International Conference Centre, Enugu, featured 50 finalist ventures selected from over 1,200 applications submitted by entrepreneurs across the South East and beyond.
According to the Commission, the finalists were selected through a multi-stage process that included video pitch evaluations, formal assessments, and an intensive bootcamp focused on investment readiness and business development.
The participating ventures are divided into two categories: the Accelerator Track for businesses with existing commercial traction, and the Incubation Track for early-stage startups with strong growth potential.
SEDC said 30 ventures will be selected for investment and formally announced at the inaugural investment ceremony scheduled for Tuesday.
The Commission explained that the programme marks the first deployment phase of the South East Venture Capital Fund, designed to mobilise up to $50 million in blended finance from public, private, development finance, and diaspora investors.
Speaking ahead of the finale, SEDC Managing Director and CEO, Mark Okoye, described the initiative as a long-term economic intervention aimed at strengthening structured access to capital for entrepreneurs in the region.
He said the programme goes beyond a pitch competition, noting that it is designed to create sustainable pathways for innovation, enterprise growth, and investment attraction.
Also speaking, the Executive Director of Finance, Stanley Ohajuruka, said the initiative reflects the strong entrepreneurial capacity in the South East, while stressing the need for credible structures to link startups with capital.
He said the programme is part of efforts to boost investor confidence and support scalable businesses across the region.
The SEDC said the initiative aligns with the Federal Government’s Renewed Hope Agenda on enterprise development, investment mobilisation, and job creation.
It added that the Venture Capital Fund will serve as a long-term platform for nurturing investable businesses and driving regional economic growth. (Daily Trust)
