Finnabair Technology Park
Two Dundalk based companies have been shortlisted for the final of a provincial final of a investment competition.
Dundlak companies, GECKO Governance and Santech Innovations, trading as OVVO, were shortlisted in the Best Early Stage company and Best New Start company categories respectively for the Connacht & Leinster final of the 2016 InterTradeIreland All-Island Seedcorn Investor Readiness competition.
GECKO Governance which is based in Dundalk, Co. Louth, will now compete with shortlisted companies from Kildare and Galway to win €20,000 to help finance the early stages of its ventures.
The winning company will go on to compete in the all-island final of the competition, which will take place on Wednesday 23rd November at the Waterfront Hall, Belfast. Now in its 14th year, Seedcorn is the island’s biggest business competition for new start and early stage companies in any sector, from any part of the island.
The competition, aimed at companies who have a new equity funding requirement, has an overall cash prize fund of €280,000, with no equity stake. To date, InterTradeIreland has supported over 2,151 enterprising companies through the Seedcorn process. With €200 million in new equity being raised by the companies who have reached the regional finals stage of the Seedcorn competition over the past 13 years, the competition has a strong track record of supporting early business start-ups to become investor ready.
Shane Brett, Founder and CEO of GECKO Governance said, “I am delighted that GECKO Governance has been shortlisted for the Connacht and Leinster final of Seedcorn 2016. We believe entering the competition would be a fantastic opportunity to refine our business plan, gain national exposure for our product and also avail of the extensive Seedcorn VC network. To date, the most important thing we have learnt from the process is that it is essential to provide investors with a properly structured and articulated business plan with clear credible goals and realistic assumptions of our future business strategy. We are all very excited about the potential of this new business and it is brilliant to have the opportunity to showcase what we are offering. We will now begin preparing for the regional final where hopefully we will be successful in progressing to the next stage.”
Brendan Phillips, General Manager of OVVO said, “I am delighted that OVVO has been shortlisted. Our product has 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. We have appointed a number of commercial partners in key markets, but to drive the level of growth and business performance in keeping with the disruptive innovative product, we need to secure additional funding and investment. Seedcorn offered 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. Seedcorn is an excellent competition that offers invaluable business experience and potential funding that would have a transformative effect on any small business. We are delighted with our progress so far and very excited for what the future holds.”