The South East’s innovation and investment landscape received a significant boost following the conclusion of the South East Venture Capital Program (SEVCP) Pitch Competition, which brought together startups, policymakers, and development stakeholders in Enugu State.
The event, which featured a final investment ceremony, was attended by the Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Armstrong Takang, who described the programme as a strong demonstration of the region’s rising entrepreneurial potential.
According to organisers, the competition began with over 1,000 applications from startups across various sectors. After multiple selection rounds, 25 startups were ultimately shortlisted for the final stage. These startups operate across key industries including healthcare, artificial intelligence, education, mobility, infrastructure, clean energy, and agriculture.
The SEVCP Pitch Competition, organised by the South East Development Commission, is designed to identify high-potential startups in the region and provide them with equity-based investment support through its venture fund. The initiative is part of broader efforts to strengthen innovation-led growth in the South East.
Speaking at the event, Takang highlighted the role of institutional partnerships in driving inclusive development, noting that organisations such as MOFI are positioned to act as growth catalysts by deploying capital in collaboration with both national and regional development bodies.
He also reiterated the importance of coordinated efforts between government institutions and private sector actors in building sustainable investment pipelines for emerging businesses.
The ceremony also served as a platform to communicate ongoing federal development initiatives in the region, particularly those aimed at enhancing economic participation and infrastructure support.
Commending stakeholders, Takang acknowledged the contributions of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, for what he described as a commitment to inclusive national development driven by regional integration strategies.
He also praised the leadership of the South East Development Commission under its Managing Director/CEO, Mark Okoye, for its role in advancing the region’s development agenda, and appreciated the support of Governor Peter Mbah for hosting the event.
The SEVCP initiative is expected to continue strengthening the region’s startup ecosystem by improving access to capital and enabling scalable innovation across key sectors of the economy.
