Business First May-June 2017 Business First May 2017 | Page 27
100,000 reasons to enter
InterTradeIreland’s Seedcorn
Competition
I
magine the difference €100,000 could make
to your new start or early stage company.
Well, that is what is on offer to the overall
winner of the 15th InterTradeIreland Seedcorn
Competition 2017.
With a total cash prize fund of €280,000;
the opportunity to gain expert advice on your
business plan; tips and guidance on how to
pitch to investors; as well as the potential
access to a valuable network of VCs, entering
the Seedcorn Competition is definitely a smart
business move for those early stage and new
start companies seeking to raise equity.
So far, more than 2,584 companies have
taken part in Seedcorn with past entrants
continuing to reap the benefits through
contacts made via the competition and equity
raised as a result. In fact, previous finalists
have gone on to secure more than €218m
worth of new equity to date.
The Seedcorn competition mirrors the real
life investment process and can greatly
improve a company’s ability to attract equity.
Past winners from Northern Ireland include
Catagen and Sophia Search from Belfast who
were overall winners, and See.Sense from
Newtownards and Cirdan Imaging from
Lisburn who were regional winners.
Speaking about the Competition, Connor
Sweeney, InterTradeIreland, said: “We have
so many innovative companies in Northern
Ireland and very talented people who have
great ideas.
“But over the history of the Seedcorn
Competition, we have only had a few local
overall winners. So perhaps this is the time
for companies here to step up to the
challenge and bring the title back to Northern
Ireland!”
Connor added, “Seedcorn provides a great
opportunity for early stage and new start
companies to get that initial injection of cash.
“However, Seedcorn is much more than
money – we know from feedback that the
experience of the competition process can
also be critical for business development.”
Advice from last year’s winner…
Last year’s overall winner, Valitacell, based
in Dublin, develops biotechnology which
allows companies to manufacture ‘high tech’
biotherapeutic drugs faster, cheaper and
with greater regulatory confidence.
CEO and CoFounder, Dr Terry McWade,
who was born and grew up in Northern
Ireland, added: “Winning the overall prize at
Seedcorn 2016 was a tremendous confidence
boost for the company.
“We had been in operation for just over a
year and the €100,000 prize fund allowed us
to progress further along the implementation
path and achieve a number of key milestones.
“We are now starting our funding round
and, as we are already in revenue with product
on the market and with global biopharma
companies as customers, we are in a very
strong position. “My advice to anyone
considering taking part in the competition is to
grab the opportunity with both hands and
listen to the feedback and sound advice you are
given every step of the way.”
Support during the competition
Over the coming weeks, InterTradeIreland
will host a series of free workshops designed
to guide those considering entering this
year’s competition, including providing
advice on what an investor looks for in a
business plan as well as tips on what to
include in videos and slide decks.
How to apply
To apply, please click here. Deadline for
submissions is 26 May 2017. You can follow
all the action throughout the 2017
competition by searching for and using
#ITISeedcorn and following @iti_seedcorn
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