The South East Development Commission launched the final round of its inaugural South East Venture Capital Programme in Enugu on Monday, where 50 startups are vying for investment under the initiative.
The event, holding at the International Conference Centre, attracted finalists selected from over 1,200 applications submitted by entrepreneurs across the South East and other parts of the country.
The Commission said the programme was conceived to improve access to growth capital for innovation-driven businesses and deepen enterprise development in the region.
Speaking at the event, Managing Director and Chief Executive Officer of the Commission, Mark Okoye said the initiative was aimed at creating sustainable pathways for enterprise financing in the South East.
“This programme is a deliberate effort to build institutional capital infrastructure for the South East. For years, many entrepreneurs in the region have operated without structured financial backing,” he said.
Okoye added that the programme was designed to “create long-term pathways for capital, innovation and enterprise growth,” stressing that the Commission was determined to unlock investment opportunities for emerging businesses.
The finalists emerged after a multi-stage screening process involving video pitch assessments and judging rounds.
They were grouped into the Accelerator Track for businesses with proven market traction and the Incubation Track for early stage startups with high growth potential.
Ahead of the finale, shortlisted participants underwent a bootcamp in Enugu focused on investment readiness, investor engagement and pitch refinement.
The 50 finalists are expected to pitch before an independent panel of judges drawn from the business, finance and investment sectors, while 30 successful ventures will be unveiled during an investment ceremony scheduled for Tuesday, May 26, 2026.
Chairman of the programme and Executive Director, Finance, Stanley Ohajuruka said the initiative had exposed the depth of entrepreneurial talent in the region.
“The programme has revealed the enormous entrepreneurial potential that exists in the South East and will help bridge the gap between enterprise and investment capital,” he said.
The Commission further disclosed that the initiative forms part of the South East Venture Capital Fund architecture expected to attract up to $50 million in blended finance from public institutions, private investors, development finance organisations and diaspora partners.
