1st July 2008

Lunchtime briefing on €280,000 All-island Seedcorn Business Competition 2008

Limerick Institute of Technology's Enterprise Acceleration Centre is delighted to announce details of this year’s lunchtime briefing on InterTradeIreland All-island Seedcorn Business Competition. Following a very successful briefing last year, this year’s event takes place on Thursday 10th July next @ 12.30 p.m. All early stage business promoters are welcome to attend. Grainne Lennon, Project Manager, InterTradeIreland will brief attendees on the structure, application process and key changes to this year’s SeedCorn Competition which involves a prize fund of €280,000 – the biggest business competition for early stage/high growth companies in any sector in Ireland.

Speaking in advance of the briefing, Ms Grainne Lennon, Project Manager with Intertrade Ireland highlighted that the competition plans to recreate the investment process as the judges are looking for the same elements as a potential investor. Aimed at companies who have a new equity funding requirement of at least €75,000, the real benefit of the competition is as a ‘door opener’ to assist business founders to grow their ventures.

“With a total prize fund of €280,000, the winner of the Emerging International Company will receive €100,000 with €50,000 awarded to the winner of the Emerging Company category. Six regional winners will each receive €20,000 and there is a also an award of €10,000 for the best venture stemming from university spinouts and platform programmes. The competition is aimed at early stage independent ventures which can demonstrate the potential to deliver substantial international sales targets. Entering the competition offers budding entrepreneurs the opportunity to develop their business idea; improve their business plan with expert advice; learn how to present concepts to panels of investors; gain exposure to venture capitalists; and increase the profile of their business.”

EAC Manager, Donncha Hughes added that attendees enjoyed and benefited from last year’s briefing on the competition which was attended by 35 entrepreneurs including clients of the Enterprise Acceleration Centre and other businesses based in the region.

“The competition promotes the use of private equity to accelerate the growth of companies and aims to help those with a significant equity requirement to become more ‘investor ready’. It is a fantastic opportunity for early stage business promoters. Our briefing will be an excellent networking opportunity for early stage business promoters and could be the first step towards winning one of the many prizes on offer. All are welcome to attend.”

Anyone interested in attending this briefing is asked to register in advance by emailing Donncha Hughes donncha.hughes@lit.ie or Tel 061 490151.

There is no charge to attend this event and tea/ coffee and sandwiches will be served during the networking reception on arrival.  

For directions to the Enterprise Acceleration Centre click on HOW TO FIND US in the Quicklinks section

PRESS COVERAGE

Click here to see how Andrew Carey, Business Editor of the Limerick Post covered our event notice.