The South East Development Commission has announced that 210 startups have cleared the first stage of the South East Venture Capital Programme pitch competition, selected from a pool of 1,200 applications received across the geopolitical zone.

The breakdown shows 128 startups progressing through the Incubator Track and 82 through the Accelerator Track. The commission's Executive Director of Finance and Chairman of the SEVCP Committee, Hon. Stanley Ohajuruka, confirmed the figures in an official statement.

Ohajuruka stated that applications were first screened for eligibility, including demonstrable ties to the South East, a meaningful technology component, and full compliance with submission requirements. Shortlisted startups were then assessed on problem solution fit, execution, market opportunity, and technology. For more advanced ventures, traction and revenue were key considerations, while early stage startups were evaluated on validation and evidence of emerging demand.

"The startups advancing to this stage have demonstrated clarity of thought, tangible progress, and credible potential for scale. They now proceed to the next phase of the competition, which will involve a video pitch assessment designed to provide deeper insight into founder capability, strategic thinking, and execution readiness," the statement read.

The competition will culminate in a Grand Finale scheduled for May 25, 2026, where top performing startups will present their ventures to investors, operators, policymakers, and stakeholders within the innovation ecosystem. An Investment Ceremony is scheduled for Tuesday, May 26, 2026, where selected startups will receive funding and enter a structured support phase under the SEVCP.

The commission acknowledged ecosystem partners Genesys Tech Hub, Startup South, and The Garage for their role in supporting the evaluation process.

The programme is aligned with the Renewed Hope Agenda's commitment to expanding access to capital for startups and strengthening Nigeria's investment landscape.