Winners of the InterTradeIreland Seedcorn Investor Readiness Munster regional final have been announced as Mavarick (Best New Start), and Neurobell, (Best Early Stage). The winners were awarded €20,000 each and will advance to the All-Island final in Dublin on the 9th of November. The InterTradeIreland Seedcorn Investor Readiness Competition is the largest business competition of its kind on the island of Ireland, Seedcorn has an overall prize fund of €300,000.
Mavarick was awarded the ‘Best New Start’ Munster regional trophy. The Limerick company has developed a platform that generates real-time information to help manufacturers make better decisions to achieve additional capacity, reduce machine downtime and increase profitability. Dr Paul Byrnes, Mavarick, Chief Executive and Co-Founder said:
We are thrilled to win the Best New Start award and advance to the national final. The Seedcorn competition is a fantastic all-island initiative. A big motivation for entering this competition was the positive impact it has had on the trajectory of past winners. The feedback we have received throughout the process has been invaluable in shaping our investment plans going forward. The technology company was founded by second-generation manufacturers, and we look forward to continuing to help manufacturers balance sustainability and productivity.
Neurobell was awarded the ‘Best Early Stage’ Munster regional trophy. Based in Cork, the company has developed a novel medical device for early detection and monitoring of seizures in newborn infants. Dr. Mark O’Sullivan, Chief Executive of Neurobell said:
It is absolutely fantastic to win this award and it will greatly help us in progressing our plans for the business. The prize money will assist our research and development work to make our product globally scalable. As we are in the process of raising Seed Round investment with a view to launching in the US and across Europe, the competition has provided a great opportunity to refine and get feedback on our business plan.
The leaders of the six innovative start-up and early-stage companies from across Munster took part in a competitive final on 17th October at the Strand Hotel, Limerick. As part of the process, finalists presented their investment proposal to a panel of judges that included active investors. The winning entrants successfully demonstrated to the panel of judges why they believe their businesses are investor ready. The regional winners in Munster will have the opportunity to compete for the overall €100,000 prize at the final. Shane O’Hanlon, Funding for Growth Manager at InterTradeIreland said:
This year’s Munster regional final was a very competitive process across the ‘Best New Start’ and ‘Best Early Stage’ categories. Both categories had three very innovative and ambitious entrants that showcased their business plans in a professional and engaging manner. Year-on-year the InterTradeIreland Seedcorn competition attracts start-up and early-stage companies that are entrepreneurial in their approach. Mavarick and Neurobell, impressed the judges with their vision and future business plans. On behalf of all of us at InterTradeIreland, I wish both companies the best of luck at the All-Island final on the 9th of November.
For start-ups and early-stage businesses, the InterTradeIreland Seedcorn Investor-Readiness Competition provides a platform to demonstrate why these companies believe they are ‘investor ready’ and open to a funding injection. As part of the Munster regional final, companies pitched their business plan to a panel of industry judges that included Alison Currie (InterTradeIreland), Andrew O'Neill (ACT Venture Capital), Brendan Boland (Loci Orthopaedics) and Gavin Pitcher (CKS Finance). The process mirrored a real-life investment process, and each finalist has received expert feedback on its business plan and pitch, as well as increased exposure to investors.
For the third consecutive year, an additional €20,000 prize will be awarded for best investment proposal from a company operating in the low carbon/green sector.
For all the latest information on Seedcorn visit: www.intertradeireland.com/seedcorn