Seedcorn Competition 2016 for start-ups launches with €280,000 in prizes

5 Apr 2016121 Shares

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Kieran Normoyle (Seedcorn 2015 overall winner) and Conor Sweeney (InterTradeIreland) at the launch of Seedcorn 2016

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InterTradeIreland’s Seedcorn Competition returns once again for Irish start-ups to compete for investment prizes from a total pot of €280,000.

The InterTradeIreland Seedcorn Competition is in its 14th year as one aimed at start-ups from all sectors across the island of Ireland, with a top prize of €100,000 available for the start-up that most impresses the panel of judges.

Over the coming weeks, InterTradeIreland says it will host a series of free regional workshops across the country, designed to guide those considering entering this year’s competition, including providing advice on preparation of video clips, presentation of slide decks and business plans.

Last year’s overall winner was Limerick’s Ocean Survivor, a manufacturer of a range of safety equipment aimed primarily at the offshore oil industry, which was founded by Kieran Normoyle and was included in Siliconrepublic.com’s list of 21 Irish start-ups to watch in 2016.

InterTradeIreland has said that, since its inception in 2003, companies who have gone through Seedcorn have raised in excess of €200m, with €10m being raised last year alone.

Deadline for applications is 27 May

Submissions for the competition are now open, with applicants encouraged to apply before the deadline of 27 May.

Speaking of what last year’s funding brought to his company, Normoyle said: “Since winning the final last year, Ocean Survivor has hired our first employee, who is focusing on research and development in order to produce our product to the highest standard possible.

“It has also given me the opportunity to focus on raising additional funding for the company.”

Other prizes include €50,000 for a category winner, six €20,000 regional prizes and a €10,000 prize awarded for the best venture stemming from a university spinout or a recognised support programme.

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Colm Gorey is a journalist with Siliconrepublic.com

editorial@siliconrepublic.com