Tipperary startups urged to enter Seedcorn competition

Early and new start companies from Tipperary are encouraged to enter the 15th annual Seedcorn Investor Readiness Competition to be in with a chance of competing for a no equity total cash prize fund of €280,000.

At a time where it is competitive to get seed funding, the competition is a great avenue for ambitious start ups to get their new business ideas off the ground.

This year’s competition is now open for registration at www.intertradeireland.com/seedcorn and businesses are encouraged to submit an entry.

The deadline for submissions is May 26.

There are nine cash prizes on offer and entrepreneurs compete against each other regionally before competing at the national final for the Best Overall titles. As well as the cash prize, participants also benefit from expert mentoring, business plan development, introductions and access to investors, developing pitching skills and additional publicity opportunities.

Between 2011 and 2015, over 66 per cent of companies who won the Seedcorn national finals went on to raise funding ranging from €150,000 to €3.1m.

During the same period 70 per cent of companies who won at regional stages of the competition but did not win at the national finals, went on to raise funds from €50,000 to €2m, with the majority of the funding being raised from angel investors, syndicates and private equity.

Workshops designed to guide those considering entering the competition, including providing advice on preparation of business plans, video clips and presentation slide decks will he held and to register for these events go to www.intertradeireland.com/seedcorn/events

The winners in this year's competition will receive €100,000, with €50,000 going to each category winner and the six regional winners getting €20,000. A €10,000 prize will also be awarded for the best venture stemming from a University spinout or a recognised support programme.