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GIVE YOUR COMPANY LIFT-OFF WITH 280,000 SEEDCORN PRIZE FUND
Monday 12.05.08
'Why not give your fledgling business lift-off with the help of a 280,000 prize fund from the 2008 Seedcorn Business Competition?' thats the message from InterTradeIreland.
Small companies North and South have leveraged 65m of additional equity investment over the past five years through Seedcorn, which offers the biggest prize fund of any business competition on the island.
Ireland is rightly renowned for its spirit of entrepreneurship and that is something we would want to continue to support, so we would encourage even more young firms to sign up for this years competition, said Liam Nellis, Chief Executive of InterTradeIreland.
The prize money is simply the icing on the cake for entrants, because Seedcorn gives growing enterprises access to invaluable advice from some of Irelands top investment experts, helping them to raise significant additional investment and grow their businesses at accelerated speed.
Sean Mitchell of Movidia, Dublin, last years overall winner of the best Emerging International Company in Ireland said: We entered the competition because, as a chip business, we needed substantial venture capital funding and we saw Seedcorn as a way of getting match fit.
The experience certainly exceeded our expectations the judging panels were very expert and put in a lot of effort to analyse the business and make incisive and challenging observations that were very constructive and useful.
Since winning the competition, we have been engaged very broadly with the venture capital community and are nearing closure on our first major funding round.
Dr Godfrey Gaston of Titan-IC Systems, Belfast, winner of last years Emerging International Company category in Northern Ireland said: We were a new company, and entering Seedcorn forced us to do something about pulling together our business plan. The competition was a fantastic experience the prize money alone was a huge bonus, because it helped us to really get up and get going. I would absolutely urge other young companies to enter.
All entrants must be able to demonstrate new equity requirements in excess of 75,000.
Entrants to the Emerging Company category must be in existence for less than three years by September 26, 2008, and have sales targets of less than 5m. Entrants to the Emerging International Company must be in business less than five years by September 26, 2008, and have sales targets of more than 5m.
Seedcorn Programme Manager Grainne Lennon said: So often, small businesses feel they dont have a chance in business competitions, but Seedcorn offers fledgling independent ventures the opportunity to develop their business ideas, improve their business plan and lean how to present concepts to panels of investors.
It also gives growing companies the opportunity to gain exposure to a whole range of venture capitalists and to increase the profile of their business so, given this whole range of benefits, why not have a go?
Following the scoring of written business plans, the top entries from each region and category are selected to make a short presentation to a panel of judges, followed by a question and answer session.
Winners are selected in each category in each of the four regions and all eight will be asked to make their presentation again to a separate panel of judges at the final in Belfast on November 26, 2008. The panel will then select the overall all-island winner in each category.
To register your interest in entering the Seedcorn Business Competition, log on to the new dedicated website: www.seedcorncompetition.com. Business plans must be submitted by 5pm on the closing date of September 26.
Small companies North and South have leveraged 65m of additional equity investment over the past five years through Seedcorn, which offers the biggest prize fund of any business competition on the island.
Ireland is rightly renowned for its spirit of entrepreneurship and that is something we would want to continue to support, so we would encourage even more young firms to sign up for this years competition, said Liam Nellis, Chief Executive of InterTradeIreland.
The prize money is simply the icing on the cake for entrants, because Seedcorn gives growing enterprises access to invaluable advice from some of Irelands top investment experts, helping them to raise significant additional investment and grow their businesses at accelerated speed.
Sean Mitchell of Movidia, Dublin, last years overall winner of the best Emerging International Company in Ireland said: We entered the competition because, as a chip business, we needed substantial venture capital funding and we saw Seedcorn as a way of getting match fit.
The experience certainly exceeded our expectations the judging panels were very expert and put in a lot of effort to analyse the business and make incisive and challenging observations that were very constructive and useful.
Since winning the competition, we have been engaged very broadly with the venture capital community and are nearing closure on our first major funding round.
Dr Godfrey Gaston of Titan-IC Systems, Belfast, winner of last years Emerging International Company category in Northern Ireland said: We were a new company, and entering Seedcorn forced us to do something about pulling together our business plan. The competition was a fantastic experience the prize money alone was a huge bonus, because it helped us to really get up and get going. I would absolutely urge other young companies to enter.
All entrants must be able to demonstrate new equity requirements in excess of 75,000.
Entrants to the Emerging Company category must be in existence for less than three years by September 26, 2008, and have sales targets of less than 5m. Entrants to the Emerging International Company must be in business less than five years by September 26, 2008, and have sales targets of more than 5m.
Seedcorn Programme Manager Grainne Lennon said: So often, small businesses feel they dont have a chance in business competitions, but Seedcorn offers fledgling independent ventures the opportunity to develop their business ideas, improve their business plan and lean how to present concepts to panels of investors.
It also gives growing companies the opportunity to gain exposure to a whole range of venture capitalists and to increase the profile of their business so, given this whole range of benefits, why not have a go?
Following the scoring of written business plans, the top entries from each region and category are selected to make a short presentation to a panel of judges, followed by a question and answer session.
Winners are selected in each category in each of the four regions and all eight will be asked to make their presentation again to a separate panel of judges at the final in Belfast on November 26, 2008. The panel will then select the overall all-island winner in each category.
To register your interest in entering the Seedcorn Business Competition, log on to the new dedicated website: www.seedcorncompetition.com. Business plans must be submitted by 5pm on the closing date of September 26.
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