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The Irish Seedcorn Competition Returns
by Startacus Admin
Are you a startup or an early stage startup on the island of Ireland, and looking for some prize money? Well this could be your lucky day – there is some serious money to be won in the 2014 Seedcorn Competition...
The good people at InterTradeIreland have once again launched this fab opportunity, back unsurprisingly following Seedcorn 2013. And, as always, it’s not all hinging on the final prize, as this particular comp is all about you getting your company ‘investor ready’, whether you make it to the final or not!
This competition mimics the real-life investment process - so having a strong business plan is crucial. There are a whole host of workshops all around the island of Ireland starting on 25th March and running until 1st May so get online at http://www.intertradeireland.com/seedcorn/events/ to find one close to you.
There are some very helpful tips on the seedcorn website if you’re unsure about anything, so no need to fret if you can’t answer all the main questions from the off!
About the Competition
New Start Companies – these are companies under five years old at 30 May 2014 and who are seeking to raise new equity of between €50,000 and €299,999.
Early Stage Companies – these are companies under five years old at 30 May 2014 and who are seeking in excess €300,000.
Prizes There are nine cash prizes up for grabs – entrepreneurs compete against each other regionally before competing for the all-island Best New Start and Best Early Stage Company titles.
Every business idea or plan submitted is reviewed by investment experts and you are given individual feedback on request. Shortlisted companies also get a unique opportunity to pitch to investors and business leaders.
€100,000 – Best early stage company
€50,000 – Best new start company
6 x €20,000 – Regional Winners
€10,000 – Special Award Winner for the best venture stemming from a university spin-out or support programme.
So how do I enter I hear you say – well here are a few things to know...
The competition is aimed at independent ventures incorporated on the island of Ireland (Ireland or Northern Ireland) in the seed, startup or early stages of business development and ideally targeting international markets.
The competition is for individuals or venture teams, who have created, manage and own such ventures.
The promoters or founder entrepreneurs are to have played a major role in conceiving the venture, continuing to have key management roles and to own significant equity.
Ventures which have already raised external equity in excess of €1m (or sterling equivalent) are not eligible.
The judges are looking for the same elements as a potential investor including:
High growth companies
The optimum risk/reward profile
A strong management team
Ability to exit
The deadline for entries is 1pm, Friday 30th May 2014
So there we have it people, this could be one more of those all important stepping stones to success....and global domination....Mwah ah-ah-ah…
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