Waterworx Robotics, one of Northern Ireland’s most successful start-ups, is urging new and early-stage firms to get in shape for investment through the Seedcorn Investor Readiness Competition.
Waterworx Robotics, last year’s Seedcorn regional winner, is based in Omagh and was founded in 2018. The company 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.
Sean O’Hare, CEO and Founder of Waterworx Robotics 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 strongly urge any start-up to enter this year, even if you don’t get shortlisted, 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, who are in with a chance to win a share of a €280,000 cash prize fund, 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, InterTradeIreland, said: “Now, more than ever, in the uncertain times we find ourselves, start-up and early stage business need help and support 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 the 29th May 2020.
To find out more about workshops and the Seedcorn competition check out https://intertradeireland.com/funding/seedcorn/
Who can enter?
- The competition is open to independent incorporated ventures in Ireland or NorthernIreland in the Seed, Start-up or Early Stage 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/founder entrepreneurs who have played a major role in conceiving the venture, continue to have 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 Prizes
- €100,000 Overall Winner
- €50,000 Category Winner
- €20,000 Regional Winners (x 6)
- A €10,000 prize will also be awarded for the best venture stemming from a Universityspinout or a recognised support programme.
Categories
- New Start Company – for companies under five years old at 1 June 2018 and who are seeking to raise new equity of between €50,000 and €299,999.
- Early Stage Company – for companies under five years old at 1 June 2018 and who are seeking to raise in excess of €300,000
