Limerick company wins annual InterTradeIreland Seedcorn Competition
29 November 2019 | 0
Tracworx won big at the InterTradeIreland Seedcorn Investor Readiness Competition. The Limerick-based company was the overall winner on the night and secured a cash prize of €100,000.
Tracworx was lauded for developing a patient tracking system that only uses existing hospital Wi-Fi networks. Using this solution, hospitals can automate their data collection and generate reports using real-time data.
Chris Kelly, CEO, Fionn Barron, COO and Eoin O’Brien, CTO set up Tracworx as college students in 2016.
Aimed at companies that have new equity funding requirement, Seedcorn offers a total prize fund of €280,000. To date, InterTradeIreland has supported 3,100 enterprising companies through Seedcorn, and has helped finalists to secure near €254 million in additional equity funding.
Commenting on the win, Chris Kelly said; “We are over the moon to be named overall winners for Seedcorn 2019.The whole process has been invaluable, and the backing of InterTradeIreland will provide us with a wealth of opportunity as we look to take our business to the next level. Our aim for 2020 is to continue our growth in Ireland and enter the UK and international markets.”
Atlantic Photonic Solutions was another big winner; it was named the Best New Start and received €50,000. The Mayo-based company developed a fish-friendly light that aims to remove sea lice from farmed salmon.
Rory Casey, managing director at Atlantic Photonic Solutions said: “The Seedcorn process has allowed us to not only become investor ready but hone our presentation skills and condense and refine business opportunities. We’d like to thank the team at InterTradeIreland, the judges and all those that helped with our pitch – it has been a wonderful journey. Seedcorn has already opened so many doors for us, and we look forward to an exciting 12 months ahead.”
“Seedcorn replicates the real-life investment process, providing companies with the opportunity to put their business idea to the test and ensure it is investor-ready,” said Ken Nelson, chairman InterTradeIreland. “These early stage businesses are vital to the economy, both north and south, and it is important we ensure these high potential start-ups are provided with the support and guidance needed to grow and develop their business propositions.”