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Seedcorn Investor Readiness Competition for Startups and Early-Stage Businesses – Ireland

by opportunitydiary

Application Deadline: 05/03/2022
About Opportunity

The Seedcorn Investor Readiness Competition is now open for start-ups and early-stage businesses to enhance the global
competitiveness of the economy of both jurisdictions for mutual benefit, through cooperative business, policy and research programs, partnerships, and networks.

Eligibility Requirements

Home » Seedcorn Investor Readiness Competition for Startups and Early-Stage Businesses – Ireland

Seedcorn Investor Readiness Competition for Startups and Early-Stage Businesses – Ireland

The Seedcorn Investor Readiness Competition is now open for start-ups and early-stage businesses to enhance the global competitiveness of the economy of both jurisdictions for mutual benefit, through co-operative business, policy and research programmes, partnerships and networks.

Sponsoring Agency: InterTradeIreland

Type of Fund: Challenges, Competitions or Prizes

Deadline Available: Available

Deadline Date (mm/dd/yyyy): 05/03/2022

Size of the Fund: USD $50,000 to $500,000

The Seedcorn Investor Readiness Competition is now open for start-ups and early-stage businesses to enhance the global
competitiveness of the economy of both jurisdictions for mutual benefit, through co-operative business, policy and research programmes, partnerships and networks.

Focus Areas

  • Educating the demand side;
  • Promotion of “best practice”; and
  • Co-ordinating the supply side – focusing on seed and early stage.

The objectives of the Competition are:

  • To assist start up companies in raising new equity;
  • To enhance awareness of the various sources of private equity or venture investment finance;
  • To stimulate activity/development of investor ready projects;
  • To create a flow of quality business proposals/ deal flow;
  • To accelerate the development of winning projects; and
  • To create new venture role models.

InterTradeIreland provides the following equity services to the business community:

  • An island-wide education programme including seminars, master classes, and round table events to raise awareness of the availability and benefits
    of using and raising external equity to build businesses;
  • Value added advisory services to founder entrepreneurs and businesses to assist in becoming “investor ready”;
  • Signposting for businesses seeking equity finance;
  • An annual Venture Capital Conference; and
  • A series of monthly regional equity advisory clinics.

Benefits

The Competition offers entrepreneurs and early stage businesses the following opportunities:

  • Overall Winner:€100,000-Overall winner
  • Best New Start or Early Stage Company: €50,000-One Award
  • Regional winners:€120,000-6 awards (€20,000 each)
  • Special award:€10,000-Best company stemming from a university spin-out or support programme
  • Sustainability / Low Carbon Award:€20,000 Best investment proposal from a company operating in the low carbon / green sector
  • Accelerate the development of your business proposition and team;
  • Learn how to present business propositions to investors and improve your ‘investor readiness’;
  • Gain exposure with venture capitalists, angel and other investors;
  • Increase the profile of your business; and
  • Get feedback on your business plan.

Categories

Promoters must decide which category to enter:

The two categories are:

  • New Start Company, for entities seeking to raise between €50,000 and €299,999 or Sterling equivalent; and
  • Early Stage Company for entities seeking to raise in excess of €300,000 or Sterling equivalent

Eligibility Criteria

The Competition is aimed at independent ventures incorporated on the island of Ireland (Ireland or Northern Ireland) in the seed, start up or early stages of business development and ideally targeting international markets.

  • Companies must be less than five years old at 27 May 2022.
  • Only incorporated companies will be eligible to enter and competitors will be asked to provide their company registration number when applying for the
    Competition.
  • All ventures must be seeking external equity capital
  • Generally excluded are the following: buy outs, expansions of established businesses, consortia, tax shelters, franchises and licensing agreements for distribution in a different geographical area. The pre-incorporated trading activity of a sole trader or partnership may be taken into consideration when considering the length of time in business viz a viz eligibility.
  • Applicant promoters should be aged 18 years or over and only entries from such persons will be accepted. Employees or agents of, or family members of personnel of, InterTradeIreland or any member of the Judging Panel or other persons connected with this competition are not permitted to enter.
  • Ventures which have already raised external equity in excess of €1m (or sterling equivalent) are not eligible.
  • The determination of eligibility shall be at the sole discretion of InterTradeIreland, which may, in exceptional circumstances, allow entry to competitors which do not strictly comply with given criteria.

Benefits

  • Overall Winner:€100,000-Overall winner
  • Best New Start or Early Stage Company: €50,000-One Award
  • Regional winners:€120,000-6 awards (€20,000 each)
  • Special award:€10,000-Best company stemming from a university spin-out or support programme
  • Sustainability / Low Carbon Award:€20,000 Best investment proposal from a company operating in the low carbon / green sector
  • Accelerate the development of your business proposition and team;
  • Learn how to present business propositions to investors and improve your ‘investor readiness’;
  • Gain exposure with venture capitalists, angel, and other investors;
  • Increase the profile of your business; and
  • Get feedback on your business plan.

Application Procedure

  • The competition is aimed at independent ventures incorporated on the island of Ireland(Ireland or Northern Ireland) in the seed, start up or early stages of business development and ideally targeting international markets.
  • The competition is for individuals or venture teams, who have created, manage and own such ventures.
  • The promoters/founder entrepreneurs are to have played a major role in conceiving the venture, continuing to have key management roles and to own significant equity.
  • Ventures which have already raised external equity in excess of €1m (or sterling equivalent) are not eligible.

Official Website: Seedcorn Investor Readiness Competition for Startups and Early-Stage Businesses – Ireland

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