Mavarick secures top spot at InterTradeIreland Seedcorn Competition
Mavarick has been announced as the overall winner of the InterTradeIreland Seedcorn Investor Readiness Competition, winning a cash prize of €100,000 to invest in their business. The Limerick company developed a platform that generates real-time information to help manufacturers make better decisions to achieve additional capacity, reduce machine downtime and increase profitability.
Seedcorn is the largest business competition of its kind in Ireland with a cash prize of €300,000.
The competition’s sustainability/low carbon award and its €20,000 prize was also awarded to Mavarick, as recognition of the best investment proposal from a company operating in the low carbon / green sector.
Galenband has also been announced as the best new start/best early stage category winner, and a cash prize of €50,000, for its diagnostic heart telemetry system. TiLT Roleplay won the €10,000 special award for their digital roleplay training that improves and measures diversity and inclusion performance within organisations.
Dr Paul Byrnes, chief executive and co-founder, Mavarick, said: ‘’The competition has been an invaluable experience and we have learned a lot about the investment process that will really help us in the next stages of our business plans. Mavarick is a company founded by second-generation manufacturers, and we look forward to continuing to help manufacturers balance sustainability and productivity.’’
Margaret Hearty, chief executive, InterTradeIreland, said: “Across both the best new start and best early stage categories it has been fascinating to once again see new companies participating from a range of business sectors, but also emerging companies who are leading the way in areas such as sustainability, digitalisation and inclusion in the workplace. This year’s overall winner, Mavarick, epitomises the very best of what companies across the island of Ireland have to offer and we are proud to support them at this early and important stage of their development.”