Margaret Hearty; Minister Peter Burke, TD and Dr Paul Byrnes. Image: Kelvin Boyes / Press Eye.
The contest has increased its prize pool from €300,000 last year to €800,000 this year.
InterTradeIreland, the all-island economic development agency, has opened this year’s Seedcorn Investor Readiness Competition for entries. The start-up competition provides early-stage businesses with the opportunity to showcase their potential to investors and investment funds across the island of Ireland.
The contest claims to be the only all-island initiative offering an “equity free cash prize” and this year, it has increased its total prize fund to €800,000 – up from €300,000 last year.
Each regional winner will win an increased €50,000, with category winners receiving €100,000.
“This approach provides significant opportunities for businesses of all sizes and sectors to secure vital funding and support to drive their growth,” a statement from InterTradeIreland read.
Moreover, the competition has expanded to include three new categories, Business to Consumer, Business to Business and Deeptech.
The all-island agency says that the new categories “reflect the evolving landscape of business innovation” and would open up the competition to a wider range of entrepreneurs and sectors from emerging tech to cutting-edge solutions.
“This year, we’re especially excited to introduce the Special Impact Award, which will recognise businesses that are leading the way in digitalisation and sustainability – priorities reflected in the new Programme for Government,” said Margaret Hearty, the chief executive of InterTradeIreland.
According to the agency, it has supported more than 60,000 businesses and has generated nearly €2bn in business development value over the past 25 years.
Last year, medical device developer Plio Surgical was announced as the overall winner at the competition, taking home €100,000. While in 2023, Mavarick, a Limerick-based software start-up, took home the top prize along with an additional €20,000 for the Sustainability/Low Carbon Award.
Dr Paul Byrnes, the co-founder and CEO of Mavarick, shared a statement encouraging applicants.
“The Seedcorn competition was a pivotal moment for us at Mavarick. It provided invaluable insights into the investment process, which significantly impacted the next stages of our business,” he said.
“Since winning, we’ve secured €1.3m in a pre-seed funding round and continue to grow rapidly. I’d strongly encourage every entrepreneur to apply – this competition can make a real difference to your business.”
The deadline to enter the 2025 Seedcorn Investor Readiness Competition is Friday 25 April at 1pm.
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