TWO South Dublin companies – iKydz and CroiValve – have collected awards after being named Best New-Start Company and Best Early-Stage Company, respectively, at the Dublin final of the 2017 InterTradeIreland Seedcorn Investor Readiness competition.
iKydz, based in Parkwest, has developed a unique parental internet control system to allow parents to manage their children’s internet usage while at home and on 3G/4G networks.
The service will also be extended to the Telco operators and schools networks.
CroiValve, based in Dublin city centre, is developing a minimally invasive medical device to treat Tricuspid Regurgitation. Currently, less than 1% of the 550,000 patients who develop this disease annually undergo surgery, due to the risks involved.
They endure long, repeat hospitalisations, very poor quality of life and are four times more likely to die within one year. This solution is quicker, easier and safer to deliver than their competitors, and provides a treatment option for these patients.
The companies each received a prize of €20,000 to help finance the early stages of their ventures.
At the national final in Dublin, Donegal company Cerebreon Technologies scooped the Overall Best New Start Company award, winning a cash prize of €50,000.
Meanwhile, Belfast company Phion Therapeutics was crowned the Overall Winner of the all-island competition, winning a cash prize of €100,000.
Now in its 15th year, Seedcorn is the island of Ireland’s biggest business competition for new-start and early-stage companies in any sector.
With more than 275 competition entries, the winners went up against companies in a range of sectors including medical devices, technology, fintech, design engineering, diagnostics and even digital ticket sales.
This year’s competition saw an unprecedented number of submissions from female entrepreneurs, with five women among the regional winners who went forward to the national final.
Welcoming the successful conclusion of InterTradeIreland’s Seedcorn competition, An Tanaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald said: “Securing funding can be a challenge for early-stage companies and, while there can only be two major winners of the Seedcorn competition funded by InterTradeIreland, all 276 companies which participated in the process will have benefitted from the competition, and should now be in a better position to pursue outside investment as their companies develop. I wish them all the very best for the future.”
Ken Nelson, chairman, InterTradeIreland said: “It’s very rewarding to be in a position to promote the growth of new-start companies on the island of Ireland. It’s great to see so many female entrepreneurs involved in the competition this year.
“I warmly congratulate both of our winners on their success in our very challenging Seedcorn competition.”