A Business competition run by a cross-border trade body is offering a boosted prize fund to help young companies as they weather the recession.
The closing date for InterTradeIreland’s Seedcorn Business Competition is September 25 — and finalists in the two categories of high growth company and emerging company can scoop prizes of €25,000 to €100,000 from a total prize fund of €360,000.
A spokesman said the competition was attracting record entries from growing companies wanting to compete for cash prizes and improve their business skills.
InterTradeIreland has also reduced the cumulative sales targets in the eligibility criteria, reducing the target for projected cumulative sales for the next five years for the emerging category to €5m.
Liam Nellis, InterTradeIreland chief executive, said: “This year’s Seedcorn competition, with its increased prize fund, offers a golden opportunity to not only win very attractive cash prizes but to benefit from fantastic networking opportunities and media exposure.
“Participating companies gain expert advice from senior business leaders to develop their business ideas and refine their business plans to attract and secure investment.” Shane Meehan, director of Media Lightbox, winner of last year’s prize for overall emerging company, said: “Winning last year’s competition was a fantastic boost for us in so many ways. The prize money was channelled into ramping up our product development and we have since agreed contracts with Nokia, Vodafone and The National Trust.”
Entrants are required to submit a business plan by 1pm on September 25. Two winners will be selected in each category for four regions before a final in Dublin on November 26. To register, visit www.seedcorncompetition.com