The South East Development Commission (SEDC) has shortlisted 210 startups to move to the next phase of its South-East Venture Capital Programme, following what it described as a highly competitive and rigorous selection process.
In a statement, the commission said the startups were selected from over 1,200 applications received across the South-East, reflecting a rising wave of innovation and entrepreneurship in the region.
According to SEDC, 128 startups were admitted into the Incubator Track, while 82 were selected for the Accelerator Track, indicating a balance between early-stage innovators and more advanced, growth-ready ventures.
The commission described the development as a significant milestone in its mission to build a strong pipeline of investable and scalable businesses that can drive regional economic transformation.
It noted that the selection process was designed to ensure fairness and transparency, with applications first screened for eligibility, including verifiable ties to the South-East, technological relevance, and compliance with submission requirements.
Further assessment focused on problem-solving capacity, market viability, execution strength, and the level of innovation demonstrated by each startup. For more developed ventures, emphasis was placed on traction and revenue performance, while early-stage startups were evaluated based on validation and evidence of market demand.
SEDC said the shortlisted startups stood out for their innovation, clarity of vision, and demonstrated potential for growth, describing them as a reflection of the region’s evolving entrepreneurial ecosystem.
As part of the next stage, the startups will undergo a video pitch assessment to evaluate their leadership capacity, strategic direction and readiness to scale.
The programme will culminate in a grand finale scheduled for May 25, 2026, where finalists will present their ideas before investors, policymakers and industry stakeholders. An investment ceremony will follow on May 26, during which successful startups will receive funding support.
Reaffirming its commitment, the commission said the initiative is aimed at strengthening the region’s innovation ecosystem and expanding access to capital, mentorship and market opportunities for young entrepreneurs.
SEDC also acknowledged its ecosystem partners, including Genesys Tech Hub, Startup South and The Garage, for supporting a transparent and credible evaluation process.
Established by the Federal Government, the commission is tasked with addressing infrastructure deficits and driving economic development in the South-East, with a growing focus on private sector-led growth and innovation-driven enterprise.
The venture capital programme is expected to help bridge the funding gap for startups while positioning the South-East as a competitive hub in Nigeria’s digital economy.