The South East Development Commission (SEDC) has officially launched a ₦70 billion South East Venture Capital Programme aimed at supporting youth-led, tech-enabled businesses across the South East region of Nigeria.
The initiative is designed to strengthen innovation, entrepreneurship, and economic growth in the region by providing funding and support to promising startups and early-stage ventures.
According to the Commission, the programme has been structured into two categories to accommodate businesses at different stages of development.
Accelerator Category:
Businesses that are already operational and looking to scale will receive $20,000 in funding and business support.
Incubation Category:
Early-stage ideas and startups that are still developing will receive $5,000 alongside mentorship and guidance to grow their ventures.
In total, 30 businesses will benefit from the pilot phase of the programme.
The South East Venture Capital Programme, which is backed by a $50 million fund, officially opened for applications on March 16 and will run until April 3.
Successful applicants are expected to emerge after the review process, with winners to be announced at the conclusion of the selection phase.
SEDC emphasized that the selection process will be strictly merit-based, noting that no individual within the Commission — including the Managing Director — can influence the outcome of the grant process.
The Commission also clarified that only businesses based in the South East region are eligible to apply for the programme.
Entrepreneurs interested in the opportunity are encouraged to submit their applications before the deadline.
