Friday 18 October 2019

Competition for early stage tech startups increases prize fund on offer

Stock image
Stock image
Louise Kelly

Louise Kelly

A competition targeted at helping boost early stage tech startups is increasing its prize fund by more than €8,000 due to its growth.

The annual Business Plan Competition, launched by the Ireland Funds in partnership with NDRC, is now offering €24,000 to kick-start three new business ideas.

Finalists from the process have gone on to raise €3.7m collectively in follow-on funding over the last two years.

One of the alumni from last year's competition, Whispr, has just closed $750,000 in pre-seed funding.

The voice guidance platform for frontline workers translates checklists and instructions, leading to greater employee efficiency.

Kid Speech Labs, founded by Shona D’Arcy and Celine de Looze, was the first all-female team to win the prize in 2018.

The entrepreneurial duo are currently developing a suite of products which will enable parents to track their children’s speech development.

This year's competition is open for entries until noon on April 28, 2019 for the submission of technology proposals that are at pre-investment stage.

Ten business ideas will be shortlisted and invited to participate in four pre-acceleration workshops, where they will receive mentoring and feedback to bring their concept to life.

At a final pitching event, three prizes will be awarded: third place will receive prize money of €1,000 and second place will receive a €5,000 cash prize.

The winner will have the opportunity to pitch for a place on one of NDRC’s investment programmes as well as securing a €10,000 cash prize.

Online Editors

Also in Business