Empowerment: SEDC KickStarts Peoples Driven Development Programme

By Paul Effiong, Abuja

South East Development Commission, SEDC, has announced its successful completion of the first phase of the South-East Venture Capital Programme, SEVCP.

The disclosure was contained in a statement signed by the executive director for Finance, Hon. Stanley Ohajuruka, and made available to journalists yesterday in Abuja.

The statement informed that many candidates applied for the competitive pool but only 1200 applications were received across the region. 

The statement also revealed that out of the number, only 128 candidates successful qualified for the startups under the Incubator Track programme while only 82 startups advanced under the Accelerator Track, reflecting a strong mix of early-stage and growth-ready ventures.

The commission described the milestone as a major step towards identifying and scaling potential, technology-driven businesses in the South-East region.

The Commission further noted that the volume and quality of applications highlighted a growing culture of entrepreneurship and a shift towards innovation-led enterprise across the region.

Meanwhile, the Commission disclosed that the competition would further proceed to a video pitch assessment stage, ahead of the grand finale scheduled for May 25, 2026.

It revealed that during the finale show, top startups would be presented to successful candidates before investors and key stakeholders. 

The Commission said the next process was going to be an investment ceremony coming up next month, during which some selected ventures would receive funding and structured support, as the commission continues its drive to strengthen the regional innovation ecosystem for the promotion of sustainable economic growth.