Tracworx from Limerick has been named the overall winner of the prestigious InterTradeIreland Seedcorn Investor Readiness Competition, taking home a cash prize of €100,000 at the grand final held at the Guinness Storehouse, Dublin.
The largest competition of its kind on the island, Seedcorn offers a total cash prize fund of €280,000. To date, InterTradeIreland has supported over 3,100 enterprising companies through the Seedcorn process, with finalists securing almost €254m in additional equity funding.
Tracworx has developed a patient tracking system that uses only the existing Wi-Fi networks in a hospital, allowing them to automate their data collection and to generate reports using real-time data. The company was established in 2016 by three college students, CEO Chris Kelly, COO Fionn Barron and CTO Eoin O’Brien.
Commenting on their win, Chris Kelly said:
“We are over the moon to be named overall winners for Seedcorn 2019.The whole process has been invaluable, and the backing of InterTradeIreland will provide us with a wealth of opportunity as we look to take our business to the next level. As well as being a fun and challenging experience, we’ve learned more about ourselves and where our focus must shift to reach the next level. Our aim for 2020 is to continue our growth in Ireland and enter the UK and international markets.”
Atlantic Photonic Solutions was the other main winner on the night, with the Mayo company winning the Best New Start Category award and a cash prize of €50,000. APS have developed a harmless fish-friendly light that aims to remove sea lice from farmed salmon.
Rory Casey, Managing Director commented:
“The Seedcorn process has allowed us to not only become investor ready but hone our presentation skills and condense and refine business opportunities. We’d like to thank the team at InterTradeIreland, the judges and all those that helped with our pitch – it has been a wonderful journey. Seedcorn has already opened so many doors for us, and we look forward to an exciting 12 months ahead.”
Congratulating the winners, Ken Nelson MBE, InterTradeIreland Chairman said:
“Seedcorn replicates the real-life investment process, providing companies with the opportunity to put their business idea to the test and ensure it is investor-ready. These early stage businesses are vital to the economy, both North and South, and it is important we ensure these high potential start-ups are provided with the support and guidance needed to grow and develop their business propositions.
“I congratulate Tracworx and Atlantic Photonic Solutions Ltd on their success, and on behalf of everyone at InterTradeIreland we wish them the very best for the next stage in their journey. I have no doubt both companies will go on to achieve great success.”