Application for the N70 billion Southeast Venture Capital Program ends today, April 3rd, ushering in the next phase of the program.
The application deadline was extended to today to allow more applicants from the five southeastern states of Enugu, Imo, Abia, Anambra, and Ebonyi to apply. The Southeast Venture Capital Program is a flagship initiative of the Southeast Development Commission (SEDC) that aims to inject N70 billion into the region’s tech ecosystem.
The program is split into two categories, capturing early-stage startups and advanced tech firms. Early-stage startups are represented in the Incubation category, with $5,000 in prize money for the winners. Advanced Startups are included in the Accelerator category, with a $20,000 seed fund for winners.
Builders in select tech niches are encouraged to apply for this program, with a few caveats, such as a mandatory presence in the southeast and the availability of an actual product on the market.
How to Apply
- Visit the SEDC official website at www.sedc.gov.ng for background information on the SEDC and its mission.
- To register for the program, visit www.sedc.gov.ng/programs/sevcp/pitch. Click “Apply Now” and fill out the form accordingly.
- You will be prompted to select your category according to the stage of your business. Accelerator or Incubator stage.
- Fill out the necessary details about your business and complete the form
The next phase of the program will involve vetting applicants based on eligibility and perceived impact. A shortlist will be announced by the SEDC after this process is done.
The Venture Capital Program is the first practical initiative of the SEDC since its launch last year. Many critics previously berated the Commission for its lengthy strategic sessions, resulting in few deliverables.
This year, the SEDC held a massive stakeholders’ forum (SEV2050). The forum outlined the commission’s goals and objectives for the next 25 years.
