With an overall prize fund of €280,000, InterTradeIreland’s Seedcorn Competition is the largest business competition on the island of Ireland, and offers a lifeline to young companies seeking to raise equity to help their business grow and develop.
Now in its 14th year, the competition also helps companies get investor ready and introduces them to valuable networks. The competition is aimed at new start or early stage companies from all sectors. Since its inception in 2003, 2374 companies who have gone through Seedcorn have raised in excess of €205m. Last year alone, in excess of €10m was raised.
2015 Seedcorn Competition winner
Last year’s overall winner Ocean Survivor from Limerick manufactures a range of safety equipment aimed primarily at the off-shore oil industry. The company has developed a simple-to-use technology that mitigates the effects of hypothermia, while promoting comfort and mental well-being in a survival situation.
Speaking about winning the InterTradeIreland Seedcorn competition, Ocean Survivor’s Founder Kieran Normoyle said: “Since winning the final last year, Ocean Survivor has hired our first employee who is focusing on research and development in order to produce our product to the highest standard possible. It has also given me the opportunity to focus on raising additional funding for the company. I am extremely thankful to have had this incredible opportunity and I would really encourage any new start-up to apply as the benefits on offer are fantastic.”
Free regional workshops
Over the coming weeks, InterTradeIreland will host a series of free regional workshops across the country, designed to guide those considering entering this year’s competition, including providing advice on preparation of video clips, presentation slide decks and business plans. More information on the workshops can be found on the InterTradeIreland website.
This year’s competition is now open for registration at www.intertradeireland.com/seedcorn and businesses are encouraged to submit an entry early. Deadline for submissions is 27 May 2016.
What is InterTradeIreland?
InterTradeIreland supports SMEs across the island to identify and develop North/South trade and innovation opportunities. They do this through business programmes, research and statistics, and building networks and partnerships.By encouraging better use of collective resources InterTradeIreland help to expedite trade and business growth across the island and create an environment where it is easier to do business.
For more information
You can follow all the action throughout the 2016 competition by searching for and using Tiwtter hashtag #ITISeedcorn and following @ITI_Seedcorn.
Read our article on the range of supports offered by InterTradeIreland for companies thinking of exporting.