11/11/2010

Firms Win InterTradeIreland Competition

Two NI firms have excelled in what is the largest business competition on the island of Ireland - Seedcorn 2010.

Run by InterTradeIreland, the organisation that supports small and medium-sized businesses across Ireland for better North/South trade and business development, it offers a total prize fund of €280,000.

The NI regional winner in the Best Emerging Company category has today been revealed as Portstewart-based instaGiv.

LamhRoe Ltd - which is based in the Northern Ireland Science Park - took home the Best High Growth Company title.

As regional finalists, both firms receive a prize of €20,000 and now proceed to the all-island finals to be held in Belfast on 24th November.

Established in April 2009, LamhRoe Ltd develops leading edge Microwave/mmWave sensors and communications sub systems for the space, security and medical markets.

In particular, its technology can be applied in the security sector where microwave/Radar fences are used as an important part of Perimeter Intrusion Detection.

The company has set it sights on international growth and intends to extend into Europe, Asia and the US with its product, which is more cost effective than competing products.

At the all-island final later this month, LamhRoe will compete against other regional winners from Munster, Connaught & Leinster and Dublin for the overall €100,000 prize in the Best High Growth Company category.

The other winner, instaGiv was founded in November 2009 by Michael Carlin who returned to Ireland three years ago after a 20-year financial services career in Belgium, France, Hong Kong, India and the US.

He spotted a gap in the market for his product instaGiv which uses mobile technologies and social media to help charities maximise the potential of fundraising and donor interaction. What makes instaGiv different is that they have leveraged the text message mechanism in a new way to give charities the tools to enable spontaneous fundraising donations without the need for cash or credit card as well as the infrastructure to build successful and sustained campaigns.

As a regional finalist, instaGiv could now go on to win €50,000 as the Best Emerging Company on the island.

Liam Nellis, Chief Executive of InterTradeIreland said: "We have been truly impressed by the calibre of the companies shortlisted for this year’s final.

"There is a wealth of innovative product and service development happening across the island of Ireland and we are delighted to be able to award these regional winners €20,000 each to assist in their enhancement and development.

"LamhRoe Ltd and instaGiv are worthy Northern Ireland winners making innovative advancements in their respective sectors."

(BMcC/GK)

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