Dundalk companies, Gecko Governance and Santech Innovations were last week named the Best New Start and Best Early Stage company at the Connacht and Leinster final of the 2016 InterTradeIreland All-Island Seedcorn Investor Readiness competition.
GECKO Intellectual Property Holdings and Santech Innovations, which are both based in Dundalk, overcame tough competition from three other counties’ finalists to win €20,000 to help finance the early stages of its ventures. The companies will now go on to compete in the all-island final of the competition for a share of a €150,000 cash prize, which will take place on Wednesday 23rd November at The Waterfront Hall, Belfast.
Gecko Governance makes regulation technology for the global finance industry that allows fund managers to monitor and manage their regulation and compliance requirements. GECKO Governance allows for greater strategy potential and corporate planning by providing fund managers with a live oversight of all the funds regulation and compliance requirements – which funds are on schedule and which are behind, which compliance tasks are outstanding and which have been completed.
Santech Innovations, trading as OVVO, is based in offices in Dundalk, close to the production facility where the product is manufactured. The award winning OVVO Connection System is a simple push fit solution for joining materials together without the use of traditional aids, glues or screws. It is a totally invisible connection solution with an internal self-clamping design that forms a solid bond between two pieces of material. The product also offers the advantage of reducing the time spent on flat pack assembly.
Shane Brett, Founder and CEO of GECKO Intellectual Property Holdings Ltd, said; “Building out our business plan was a lot of work but very rewarding in terms of ending with an investor ready business plan in great shape. We also really liked getting the detailed business plan feedback. We have learned the importance of providing investors with a properly structured and articulated business plan with clear credible goals and realistic assumptions of our future business strategy. We will use the prize money to accelerate our expansion plans – specifically in rolling out our London office later this year.”
Brendan Phillips, General Manager of Santech Innovations said: “We are truly delighted to have won today and to be progressing to the next stage of the Seedcorn 2016 competition.
“Our product has already won a number of innovation awards that are highly regarded within the woodworking and furniture making industry, and we believe it has the capacity to truly transform the industry. This competition has already given us the opportunity to reflect upon our product and brand proposition in order to attract the type of investment that we know is necessary to drive global growth with the pace desired.
“ Our aim is to benefit from the seed funding and also to expand our presence and awareness in key markets.”