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KERRY companies might like to know about this competition.
InterTradeIreland has launched its 2018 Seedcorn Investor Readiness Competition, inviting innovative early stage companies to be in with a chance of winning a portion of the €280,000 total cash prize to help their business take flight.
Open to businesses across all sectors, the competition is the largest business event of its kind on the island of Ireland and is aimed at new start and early stage companies which want to attract investment to get projects off the ground.
Now in its 16th year, the annual competition helps companies seeking to raise equity to get investor ready and provides them with invaluable guidance and feedback.
Launching the competition, Ken Nelson, Chairman of InterTradeIreland, said: “The overall winner will take home a €100,000 cash prize to support the growth of their business, which will go a long way towards realising ambitious expansion goals. However, Seedcorn is about so much more than just financial support. Participants benefit in a host of other ways, receiving invaluable guidance, tips and advice from our experts, investors and other entrepreneurs, as well as refining business plans and pitch proposals to better demonstrate their offering to potential investors.”
Since its inception in 2003, companies which have gone through the Seedcorn Competition have raised in excess of €229m. Last year alone, in excess of €10m was raised.
In the coming weeks, InterTradeIreland will host a number of free workshops, aimed at helping those who are considering applying to this year’s competition. More information can be found at www.intertradeireland.com/seedcorn
The closing date for applications to the InterTradeIreland Seedcorn Investor Readiness Competition is Friday, June 1st 2018.
InterTradeIreland’s Seedcorn Investor Readiness Competition is the largest investor readiness competition for early stage/high growth companies in any sector on any part of the island of Ireland. The competition, aimed at companies which have a new equity funding requirement, has a record total cash prize fund of €280,000.
Businesses can enter in one of the two categories: ‘new start’ or ‘early stage’.
There are four regions: Northern Ireland, Dublin (city and county), Munster and Connacht & Leinster (including counties Donegal, Cavan and Monaghan).
Companies submit applications along with a visual representation of the business idea. Shortlisted companies are invited to submit a full business plan and, if successful, are invited to deliver an investment pitch in front of the judging panel comprising of venture capitalists, business angels and some of the island’s leading industry experts and entrepreneurs.
Throughout each stage of the competition, companies will be judged on various criteria including financial performance, company milestones and achievements, future strategy, the management team in place and the quality of the pitch to the judging panel. Feedback is provided to companies at each stage of the competition process.
The competition is open to independent incorporated ventures in Ireland and Northern Ireland in the start-up or early stage of business development and ideally targeting international markets.
The competition is for individuals or venture teams which have created, manage and own such ventures.
The promoters/founder entrepreneurs are to have played a major role in conceiving the venture, continuing to have management roles and to own significant equity. Ventures which have already raised external equity in excess of €1m (or sterling equivalent) are not eligible.
