InterTradeIreland All-Island Seedcorn Business Competition 2007
17 July, 2007
In response to the continuing gap for early stage/start-up funding on the island of Ireland and building on the success of previous years competitions EquityNetwork, a major initiative of InterTradeIreland, is delighted to announce the 2007 All-Island Seedcorn Business Competition. We are offering €100,000 for the best Emerging International Company on the island, €50,000 for the best Emerging Company, six regional prizes of €20,000 and a prize of €10,000 for the best venture stemming from university spinouts and platform programmes. In addition to the attractive cash prizes there are many other valuable benefits associated with entering the competition.
What are the judges looking for?
The judging panel will be looking for the same elements that a potential investor would look for. Fundability will be a major criterion and there important new selection criteria in this year's competition based on the company's new equity requirement and potential sales. Full details of the selection criteria are available in the Official Rules and Entry Kit, available when you register.
Who can enter?
The competition is open to companies based on the island of Ireland.
There are two categories being introduced this year:
- for companies entering the Emerging International Company category, the business must not be in existence for more than five years at Friday 28th September 2007 and have a private equity requirement in excess of €300,000/£200,000. Substantial International sales targets are also required.
- for companies entering the Emerging Company category, business ventures must not be in existence for more than three years at Friday 28th September 2007 and have a private equity requirement in excess of €75,000 but less than €300,000.
The competition is aimed at independent ventures incorporated on the island (Ireland or Northern Ireland) in the seed, start up or early stages of their development. Entrants should have started, manage and own such a venture. Ventures which have already raised private equity in excess of €1 million are not eligible.
How to enter?
Entrants must first register to receive the Official Rules and Entry Kit.
These should be read carefully as they include important information on what your business plan should contain and details of new selection criteria. Having registered entrants must then submit their business plan.
The deadline for return of business plans is 5pm on Friday 28th September 2007.
To Apply Click Here