ONE of the north’s most successful start-ups is urging new and early stage firms to get in shape for investment through the Seedcorn investor readiness competition, which this year has has a prize pot of €280,000.
Omagh-based Waterworx Robotics, last year’s Seedcorn regional winner, has developed an autonomous, multi-sensor investigation drone that can be inserted into live under-pressure water trunk mains and carry out long range inspections.
Its founder and chief executive Sean O’Hare said: “Seedcorn helped propel our company forward since winning at the regional final last year.
“The process is extremely valuable, it challenges you and teaches you how to position your business to investors. I would urge any start-up to enter this year.
“Even if you don’t get short-listed, the tools you learn from the masterclasses and business planning workshops will help equip you on your road to becoming investor ready.”
InterTradeIreland’s Seedcorn contest mirrors the real-life investment process. Participants can secure expert feedback on their business plans and pitches, improve their investor readiness and gain exposure to investors, all while boosting their firm’s profile.
Companies benefiting from Seedcorn have come from many sectors including advanced manufacturing, technology, sport, finance, medical devices and diagnostics.
Since the competition’s inception in 2003, more than 3,100 companies have been through the programme and finalists have raised in excess of €256m.
Shane O’Hanlon, funding for growth manager at InterTradeIreland, said: “In the uncertain times we find ourselves, start-up and early stage business need help and support more than ever to secure investment.
“The funding environment is especially challenging for every business right now, and new companies are at a critical and vulnerable stage of development.
“Entrepreneurs have shown their ingenuity and resilience over the decades, and we are confident that with the right support, despite the current crisis, they will rise to the many obstacles they face. Seedcorn’s team of experts can give entrepreneurs priceless insight and feedback to set them on the right track.”
A series of online Seedcorn workshops will be held in the coming weeks to provide those considering applying with advice on preparation of video clips, presentation slide decks and business plans.
Closing date for initial applications is 1pm on May 29. More details at www.intertradeireland.com/funding/seedcorn.
