SEDC announces winners of venture capital programme competition
The South East Development Commission (SEDC) has announced the winners of the inaugural South East Venture Capital Program (SEVCP) pitch competition, marking a major step in its efforts to build a competitive innovation and enterprise ecosystem in the South East. The competition, which ended with an investment ceremony in Enugu, featured startups across sectors including […]
The South East Development Commission (SEDC) has announced the winners of the inaugural South East Venture Capital Program (SEVCP) pitch competition, marking a major step in its efforts to build a competitive innovation and enterprise ecosystem in the South East.
The competition, which ended with an investment ceremony in Enugu, featured startups across sectors including healthcare, artificial intelligence, clean energy, agriculture, fintech, logistics, education technology and public infrastructure innovation.
The SEVCP was structured into two tracks including an Incubator Track and an Accelerator Track designed to support early-stage startups as well as more developed businesses with scalable models.
According to the Commission, the Incubator Track provided foundational support and venture readiness training, while the Accelerator Track focused on startups with stronger market traction and growth potential.
Following a rigorous selection process involving investors, industry experts and ecosystem stakeholders, 10 startups emerged from the Incubator Track, while 15 startups were selected from the Accelerator Track.
The startups selected under the Incubator Track include 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 are Ondigo Technologies Limited, Skilladder, KIRA AI Limited, RapidMedicare Limited, SmartAirs, Bra-X, Stur Africa, Nigenius, SpaceOps, FLOF CO, Case Radar, Smart Transport Grid Ltd (STRAG), 8Bit Digital Systems Limited, CLIMAX GREEN (AGROFUXION) and Afiari.
The Commission explained that although the accelerator category was originally designed for 20 startups, only 15 were eventually selected after 25 finalists pitched before the judging panel. It said the adjustment was made to maintain competitiveness, quality standards and the integrity of the selection process.
Speaking on the initiative, the Managing Director/Chief Executive Officer of SEDC, Mark Okoye II, said the programme reflects the Commission’s commitment to supporting indigenous entrepreneurs capable of building scalable businesses that can drive industrialisation, create jobs and attract investment to the region.
He said the South East Venture Capital Program is a long-term economic strategy aimed at unlocking entrepreneurial potential and strengthening the pipeline of investable startups from the region.
Okoye added that the selected startups will receive financial support, mentorship, business advisory services, investor access, technical support and ecosystem partnerships to enable sustainable growth and scalability.
He also reaffirmed SEDC’s commitment to working with venture capital firms, development institutions, innovation hubs, academic institutions and corporate partners to expand entrepreneurial opportunities in the region.