SEDC unveils 25 startups for venture funding

The South East Development Commission has unveiled 25 startups selected for support under the inaugural South East Venture Capital Program, in what the Commission described as a major step toward building a globally competitive innovation and enterprise ecosystem in the region.

The announcement followed the conclusion of the programme’s Finals Day and Investment Ceremony held in Enugu, where emerging businesses from across the South East pitched innovative solutions spanning healthcare, artificial intelligence, clean energy, agriculture, fintech, mobility, legal technology, logistics, education technology, commerce, and public infrastructure innovation.

The South East Venture Capital Programme was structured into two categories — an Incubator Track for early-stage startups and an Accelerator Track for more established businesses with scalable models and stronger market traction.

At the end of the rigorous selection process involving investors, business executives, ecosystem leaders, and industry experts, 10 startups emerged from the Incubator Track, while 15 startups were selected under the Accelerator Track.

Speaking on the initiative, the Managing Director and Chief Executive Officer of the South East Development Commission, Mark Okoye II, said the programme forms part of a broader strategy to unlock the entrepreneurial potential of the South East and reposition the region as a leading innovation hub on the African continent.

According to him, the Commission is focused on identifying and supporting indigenous entrepreneurs capable of building sustainable businesses that can drive industrialisation, create jobs, and attract investments 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,” he said.

Okoye noted that the selected startups would receive financial support, mentorship, technical assistance, investor access, business advisory services, ecosystem partnerships, and post-programme growth opportunities aimed at helping them scale sustainably.

The programme comes at a time when conversations around youth unemployment, access to startup funding, and regional economic competitiveness have intensified across Nigeria. Industry analysts have repeatedly pointed to inadequate access to capital and weak institutional support as major barriers confronting young entrepreneurs, particularly outside Lagos, which has remained the country’s dominant startup ecosystem.

With the South East widely regarded as one of Nigeria’s most commercially active regions, stakeholders believe initiatives such as the venture capital programme could help bridge the funding gap for local innovators and encourage technology-driven enterprise development.

Originally, the accelerator component of the programme was expected to support 20 startups from a projected pool of 30 finalists. However, the Commission explained that only 25 startups eventually pitched before the judging panel, leading to a downward adjustment in the number of winners.

In a statement issued after the event, the Commission said the number of accelerator winners was reduced to 15 in order to preserve the integrity and competitiveness of the programme.

“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 statement read in part.

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.

Observers say the diversity of sectors represented by the selected startups reflects the growing sophistication of entrepreneurship within the South East, especially in emerging areas such as artificial intelligence, climate innovation, digital health, clean energy, and smart mobility solutions.

The South East Development Commission also reiterated its commitment to strengthening collaboration with venture capital firms, development institutions, innovation hubs, academic institutions, corporate organisations, and ecosystem stakeholders to deepen innovation-driven growth across the region.

The Commission commended founders, judges, mentors, investors, sponsors, and development partners whose contributions ensured the successful execution of the maiden edition of the programme.

“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 added.

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 mobilisation, institutional strengthening, and strategic programme delivery targeted at accelerating economic growth in the region.

The South East Venture Capital Programme is one of the Commission’s flagship initiatives aimed at supporting entrepreneurship and positioning the region to compete more effectively in Nigeria’s fast-growing innovation economy.