The South East Development Commission (SEDC) has commenced the grand finale of the inaugural South East Venture Capital Programme (SEVCP), aimed at institutionalising access to growth capital for high-potential businesses across the South East region.
The event, held at the International Conference Centre, Enugu, brought together 50 finalist ventures selected from over 1,200 applications received from entrepreneurs across the region and beyond.
The SEDC Executive Director of Finance and Chairman of the SEVCP, Hon. Stanley Ohajuruka, disclosed this in a statement on Monday.
He said the programme goes beyond a pitch competition, describing it as the formal launch of a long-term capital mobilisation strategy designed to unlock investment for innovation-driven enterprises.
According to him, the initiative was structured to identify, prepare and support promising founders through a rigorous multi-stage selection process.
He explained that applications were received from ventures founded, operating in, or serving the South East market, reflecting strong entrepreneurial activity and investment demand in the region.
Ohajuruka said that after assessments, including video pitches and judging rounds, 50 ventures emerged as finalists across two categories: the Accelerator Track for businesses with measurable traction and the Incubation Track for early-stage startups with strong growth potential.
He added that all shortlisted ventures participated in an intensive bootcamp in Enugu focused on investment readiness, business articulation and pitch refinement ahead of the final presentations.
According to him, the finalists will pitch before an independent panel of judges drawn from business, finance, entrepreneurship and investment sectors, with deliberations to follow immediately after the sessions.
He said 30 ventures will be announced as beneficiaries at the Inaugural Investment Ceremony and will receive early-stage funding under the South East Venture Capital Programme.
Ohajuruka said the SEVCP is the flagship activation platform of the South East Venture Capital Fund, designed to address the region’s long-standing challenge of limited access to institutional capital.
He noted that the fund aims to catalyse up to $50 million in blended finance over its lifecycle, drawing support from public sources, development finance institutions, private investors and diaspora co-investment.
The Managing Director and Chief Executive Officer of the SEDC, Mark Okoye, described the initiative as a structural economic intervention rather than a one-off event.
He said the programme is designed to build long-term capital infrastructure for the South East and create sustainable pathways for innovation and enterprise growth.
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