Belfast Telegraph

Northern Ireland start-ups urged to sign up for £243k business competition

Opportunity: Shane O’Hanlon, ITI
Opportunity: Shane O’Hanlon, ITI

By Staff Reporter

New companies in Northern Ireland are being urged to enter InterTradeIreland's €280,000 (£243,000) seedcorn investor readiness competition.

Businesses in the seed, start-up and early stages of business development, who are seeking to ramp up their funding, could be in with a chance to win a share of a €280,000 (£243,000) cash prize fund. The overall winner will take the €100,000 (£87,000) prize.

The competition mirrors the challenging real-life investment process. Participants are advised on how to develop their business plan, present business propositions, improve their 'investor readiness', benefit from exposure with venture capitalists, angel and other investors and get the chance to increase the profile of their business.

An information session will take place on Friday May 17 (12-1pm) in Propel at Ormeau Baths, Belfast.

Shane O'Hanlon, funding for growth manager at InterTradeIreland, said: "Seed finance can be notoriously hard to attract, and this competition is an opportunity for ambitious start-ups to get their new ideas off the ground.

"We would encourage young Northern Ireland companies that meet the criteria to submit their entries before the closing date of 1pm on Friday, May 31, 2019 and take advantage of this fantastic opportunity."

Two companies in Northern Ireland are guaranteed to take away €20,000 (£17,400) each as regional winners before going on to compete in the all-island final and a chance to win the overall title or category title with cash prizes of €100,000 and €50,000 respectively.

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