Omagh-based start-up, Waterworx Robotics is urging new and early stage firms to enter the Seedcorn Investor Readiness Competition, which they regionally won last year.
Ran by cross-border business body InterTradeIreland, Seedcorn’s contest aims to mirror 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.
Founded in 2018, Waterworx 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 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.”
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Companies across multiple sectors have benefitted from Seedcorn, including those in 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 more than €256m.
Shane O’Hanlon, funding for growth manager at InterTradeIreland commented: “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 29 May 2020.
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To find out more about workshops and the Seedcorn competition check out https://intertradeireland.com/funding/seedcorn/
