27th November 2009
LIT Congratulates EAC based companies on Seedcorn Wins
Limerick Institute of Technology (LIT) is delighted to congratulate new Limerick Enterprise Acceleration Platform (LEAP) participant - Cauwill Technologies - and past LEAP participant – coClarity - after they walked away with €100,000 and €10,000 respectively from the All-Island InterTradeIreland Seedcorn Competition. Both companies are based in the Enterprise Acceleration Centre on LIT’s Moylish Park Campus.
pictured (l-r): Graham Royce, LIT; Ronan Skehill, Cauwill; Ger Hartnett, CoClarity; and Colin McLean, LIT.
Cauwill Technologies who was selected as the regional and national best Emerging Company, and coClarity who won the regional category for best venture stemming from a university spin-out or platform programme, are proving that even in hard times SMEs have a lot to offer locally, nationally and indeed, internationally.
Since launching their PinPoints product in February 2009 – an application that helps users located their hotel using their mobile phone – Cauwill Technologies has users in 66 countries worldwide and signed contract with ARO, a Galway based hotel booking company.
“The benefits for the hotel booking company are that it's a low cost way for them to improve customer satisfaction and to differentiate themselves from their competitors” explains Mr Ian Rice, co-founder of Cauwill Technologies.
Mr. Ronan Skehill, adds, “being recognised as the overall Emerging Winner will help us gain more international recognition of our product and new access to the investment community.”
coClarity participated in LEAP 2008 and have proven success as an internet based platform whose first product - Goshido – helps companies in games development with project management, improving team productivity and producing clearer communication within a team. coClarity is currently in private-beta with a number of companies in Ireland, the UK and the USA; it’s planned to roll-out Goshido among other industries in the near future.
“Our product bridges the gaps between simple web task-lists and complex collaboration/workflow systems,” says coClarity founder Ger Hartnett. “We’ve taken a fresh look at the challenges people face when working together and we’ve discovered a unique solution that can make their business buzz.”
Dr. Maria Hinfelaar, President of LIT, where the two companies are based, said: “This is an extraordinary example of how ideas, reinforced with passionate and hard-working teams, can take flight and become a huge success in a short period of time. It is also further proof of what Ireland has to offer in terms of globally appealing SMEs. I congratulate both companies on successfully securing a total prize fund of €110,000; it’s a fantastic achievement and indeed an excellent promise for future success.”
The LEAP 2009 programme, which takes place over a 12-month period, is currently helping 16 start-up entrepreneurs develop an investor-ready business plan. LEAP, led by Programme Manager Mr. Graham Royce, comprises of an integrated support system that is vital to business at the start-up stage, including: strategy and business planning, management training, Enterprise Ireland mentors and more.
Enterprise Ireland, which in addition to providing mentors also provides funding opportunities for entrepreneurs on the LEAP programme, says these companies are an example of how investment in Irish SMEs will continue to build Ireland’s knowledge economy, even in times of difficulty.
“This is a fantastic achievement by Irish start-ups. Enterprise Ireland is committed to investing in start-up companies who show global potential; those who are going to keep Ireland on the map and at the forefront of the technology industry. At Enterprise Ireland, we believe it is important to provide companies with the means to grow and develop into national and international enterprises. I look forward to following the companies’ progress and watching as their businesses continues to grow,” said Jerry Moloney, Regional Director Mid-West, Enterprise Ireland.
The InterTradeIreland Seedcorn Competition is aimed at independent Irish (Ireland and Northern Ireland) ventures in the start-up or early stages of business development whose business is ideally targeting international markets.
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