DropChef and Invizbox win €20,000 and go forward to all-island
Two innovative businesses from Dublin, DropChef and Invizbox, have been crowned ‘Best New Start’ and ‘Best Early Stage’ company respectively, walking away with €20,000 at the Dublin Final of the 2018 InterTradeIreland Seedcorn Investor Readiness Competition.
Delivering an investment pitch in front of an expert judging panel, DropChef and Invizbox fought off tough competition from other local companies to win the prize fund to contribute to their business growth.
Now in its 16th year, Seedcorn is Ireland’s biggest business competition for innovative new start and early stage businesses in any sector. The competition has an overall cash prize fund of €280,000 with participants also benefitting from promotional opportunities, business planning workshops and mentorship support throughout the competition.
DropChef is a subscription-based food delivery service that aims to make cooking a healthy dinner simple.
Commenting on their win, Roman Grogan, Co-Founder and Director at DropChef said:
“The trend towards health eating is only going to gain momentum so we are thrilled to have our business and our future plans recognised by the judges at the Dublin regional final. DropChef is in the process of raising a round of funding and the Seedcorn competition has really helped us hone our plan and introduce us to potential investors. The experience has proved invaluable in refining our message and outlook and we look forward to competing at the all-island final!”
Invizbox is a cyber security company that aims to make it easy for people to protect their privacy online through a range of products that encrypts traffic before sending data across the internet.
Commenting on their win, Paul Canavan CEO said:
“Winning ‘Best Early Stage’ company at the Dublin regional final is a huge achievement for us. We make devices to help people protect themselves online with ease, and this award is further validation of our business model and our ambitious growth plans for the future. The Seedcorn Competition has been a great way to help us enhance our messaging when talking to potential investors and we look forward to practising our pitch again at the all-Ireland final in Belfast.”
Congratulating DropChef and Invizbox, Shane O’Hanlon, Funding for Growth Manager at InterTradeIreland said;
“The standard of entries from Dublin this year has been particularly high with the teams at DropChef and Invizbox reflecting the innovation, creativity and commitment the judges look for when it comes to assessing business vision and growth. Seedcorn is a great support and growth platform for entrepreneurs to help improve their business plan and refine their pitch in front of active investors, and over the last 15 years, we are proud to have fostered business growth across the island of Ireland. I congratulate DropChef and Invizbox on their wins and wish them well as they embark on the final of the competition.”
To date, InterTradeIreland has supported over 2,300 enterprising companies through the Seedcorn process. With €238 million in new equity being raised by the companies which have reached the regional finals stage of the Seedcorn competition over the past 16 years, the competition has a strong track record of supporting early business start-ups to become investor ready.