Galway start-ups encouraged to enter €300,000 Seedcorn competition

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galway daily news start ups competition promotional picture from seedcorn
Pictured at the launch of the 2022 InterTradeIreland Seedcorn Investor Readiness competition are Conor Sweeney, InterTradeIreland (right); Shana Chu, Tailr, 2021 ‘Best New Start’ winner and Vincent Forde, Gasgon Medical, 2021 Overall winner. Pic: Brian Lougheed

Start-ups and early-stage companies in Galway are being encouraged to enter Ireland’s biggest investor readiness competition.

The InterTradeIreland Seedcorn Investor Readiness competition has a top prize of €100,000, and gives companies a chance to become ‘investor ready’ with feedback on business plans and pitches along with increased exposure to investors.

The largest business competition of its kind on the island of Ireland, Seedcorn boasts an overall prize fund of €300,000.

For the second year, a €20,000 prize is also up for grabs for best investment proposal from a company operating in the low carbon/green sector.

Connor Sweeney, Seedcorn Programme Manager at InterTradeIreland, welcomed entrants for this year’s competition.

“Since its inception in 2003, Seedcorn has been instrumental to some of the island of Ireland’s biggest start-up success stories,” he said.

“The benefits of entering go well beyond the cash prize. As well as competing for a share of the €300,000 prize fund, all entrants will win by accessing new investor networks, receiving invaluable feedback on their business plans and pitches from real-world investors, as well as boosting the profile of their business along the way.”

Conor Sweeney said that they are hosting a series of free information sharing sessions in the coming weeks to help companies with their entries, and encouraged all innovative young businesses to take part.

Previous winners have spanned a wide range of sectors, and hailed from across the island of Ireland. The overall winner of the 2021 Seedcorn competition was Cork-based med-tech firm, Gasgon Medical.

Last year’s winner in the ‘Best New Start’ category was Waterford-based Tailr, previously known as STYL.wrap, picking up a cash prize of €50,000.

The closing date for entries is 1pm on 27 May.