SEDC Launches 30 start up ventures, commences grand finale

The South East Development Commission (SEDC) has commenced the grand finale of its inaugural South East Venture Capital Program (SEVCP) in Enugu, with 30 promising ventures set to receive structured investment support under a newly established regional venture capital fund.

The event, holding at the International Conference Centre, Enugu, marks the first major deployment phase of the South East Venture Capital Fund, an initiative designed to improve access to early-stage institutional capital for businesses across the South East.

According to the Commission, over 1,200 applications were received from entrepreneurs within and outside the region, with 50 ventures emerging as finalists after a rigorous multi-stage selection process.

The finalists are competing under two categories  the Accelerator Track for ventures with proven commercial traction and the Incubation Track for early-stage businesses with strong growth potential.

Ahead of the finale, shortlisted founders participated in an intensive bootcamp focused on investment readiness, investor engagement, business development, and pitch refinement.

At the grand finale on Monday, the finalists are expected to pitch before an independent panel of judges drawn from the business, finance, entrepreneurship, and investment sectors.

The Commission disclosed that 30 selected ventures will be officially unveiled during the Inaugural Investment Ceremony scheduled for Tuesday, May 26, 2026, where they will receive structured early-stage funding support.

SEDC said the initiative forms part of a broader strategy aimed at mobilising up to 50 million dollars in blended finance through partnerships involving public institutions, development finance organisations, private investors, and diaspora co-investors.

Speaking ahead of the event, the Managing Director and Chief Executive Officer of SEDC, Mark Okoye, described the programme as a long-term economic intervention designed to build sustainable capital infrastructure for the South East.

“What is taking place here is not simply a startup pitch event. It is the deliberate construction of institutional capital infrastructure for the South East,” Okoye said.

He noted that many innovative businesses in the region have struggled to access structured financing needed for sustainable growth.

Also speaking, the Executive Director of Finance at SEDC and Chairman of the South East Venture Capital Program, Rt. Hon. Stanley Ohajuruka, said the programme had revealed the depth of entrepreneurial potential within the region.

According to him, the initiative is aimed at bridging the gap between enterprise and investment capital while strengthening investor confidence in South East businesses.

The Commission added that the programme aligns with the Federal Government’s Renewed Hope Agenda on enterprise development, investment mobilisation, innovation, and job creation.

The South East Development Commission is a federal statutory body established to drive economic development and regional transformation across Abia, Anambra, Ebonyi, Enugu, and Imo states.