By Aaron Ossai
South East Development Commission, SEDC has formally launched a development programme known as the South East Venture Capital Programme, SEVCP marking a decisive step in advancing the Renewed Hope Agenda’s commitment to expand access to capital for start-ups and strengthen Nigeria’s investment landscape.
The programme, according to a statement from the Media Office of the Commission, represents a direct institutional response to the Federal Government’s commitment to expand access to local funding and attract sustained investment into high-growth sectors across South East Nigeria.
“It is part of the developmental initiative by the South-East Development Commission contained in the road map for the region that was presented to the House of Representatives Committee on South East Development Commission, SEDC.
“The SEVCP is a funded, coordinated and time- bound intervention designed to catalyse the region’s digital, innovation and technology ecosystem. As part of its initial rollout, the first phase of the programme, the South East Pitch Competition is now officially open for applications”, the statement read in part.
“The core of the programme is the South East Venture Capital Fund, a blended finance vehicle designed to mobilise up to $50 million in public, institutional, development finance, Diaspora and private capital into the region.
“SEDC anchors the Fund through the South East Investment Company, its wholly owned investment vehicle, which participates as a Limited Partner. This structure ensures professional fund management, institutional accountability, and alignment with global investment standards.
“Furthermore, the SEVCP is built as an integrated platform comprising five interlinked workstreams: fund operationalisation, a flagship Pitch Competition, a structured incubation and acceleration programme, a financing partnerships strategy to complete the fund raise and a network of implementing partners across the region. Each component is designed to reinforce the others and ensure continuity from deal sourcing to investment and growth.
“The South East Pitch Competition serves as the primary entry point into the Fund’s investment pipeline. Thirty start-ups will be selected across the five states, with twenty placed in the Accelerator Track and ten in the Incubation Track.
“These start-ups will receive SAFE investments totalling 450,000 dollars in the first cohort. Accelerator participants will receive 20,000 dollars each, while incubation participants will receive 5,000 dollars each. Investments will be milestone-based and structured to balance founder flexibility with investor protection.
“The Pitch Competition Finals is scheduled to take place on 13 May 2026, followed by an Investment Ceremony on 14 May 2026. Selected start-ups will participate in a structured hybrid incubation and acceleration programme delivered across key locations in the region.
“The South East has long demonstrated strong entrepreneurial capacity, commercial depth, and human capital, the statement indicated. It noted that what has been missing is a coordinated system to channel capital into that capacity at scale, with the structure and governance required by serious investors, the SEVCP provides that system, and the Pitch Competition establishes the first layer of access”, the statement added.
According to the the statement, “applications opened on 13 March 2026 and were originally scheduled to close on 27 March 2026. It indicated that the deadline has now been extended to 3 April 2026 to enable broader participation across the region, adding that this will be the final extension.”
