The Seedcorn Investor Readiness Competition - open for entries
by Startacus Admin
If you’re a startup or early stage business based in Ireland - North or South, then it’d be well worth your while taking a look at the latest Seedcorn Investor Readiness Competition which has just been launched by the good folk at InterTradeIreland.
Since its inception, the Seedcorn comp has aimed to help early stage businesses throughout the island of Ireland to become investor ready. The entire competition process mimics the real life investment process and therefore the judges will be looking for ideas and businesses which show potential for high growth, where there is an optimum risk/reward profile, a strong management team and also the ability to exit - much the same as any standard investor then!
There are two categories within the competition - the New Start Company category which is aimed at companies who are under five years old at 29th May 2015 and who are wishing to raise new equity of between €50,000 and €299,999 and the Early Stage Company category which is aimed at companies of that same age but who wish to raise new equity in excess of €300,000.
To enter, you must first of all complete the online application form and also submit a visual representation of your idea - that could be in the form of a short video or a slide show presentation.
Following that, the judging panel will then draw up a shortlist and invite those companies to submit a full business plan. During the month of November, regional finals will be held and the comp will finish with the all island final which will take place in Dublin on 25th November.
This year there is a total prize fund of €280,000 available which will be divided up between 9 winning startups. One overall winner will be awarded €100,000, a best category winner who will receive €50,000, six regional winners who will be awarded €20,000 each, and a €10k award which will be given to a company that is from a university spin-out or support programme. Pretty decent prizes wouldn’t you agree?
The closing date for this year’s competition is 29th May which actually isn’t all that far away when you really think about it! Time has a habit of creeping up on us therefore it’d probably be best to get on the case with your application now if you’re thinking of entering!
If you do enter, best of luck! We’ll be rooting for ya!
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