'Seedcorn' Cash Up For Grabs

Entrepreneurs from Northern Ireland could get a huge cash boost for their business, thanks to a record prize fund of €360,000 being offered by InterTradeIreland's Seedcorn Business Competition 2009.

Already the highest offered by any business competition across the island, the sum has been increased this year to help give fledgling firms 'lift-off' during the recession.

Liam Nellis, Chief Executive of the trade and business development body, pictured here with Shane Meeham, Director of past winners, Media Lightbox, said: "The economic environment has never been more difficult for young businesses. Seedcorn can help by offering a fantastic cash incentive, as well as invaluable support and advice from some of Ireland's top investment experts.

"I would urge any young company to have a go because by just entering Seedcorn they can put themselves in a better position to attract investment, gain valuable industry contacts and get their name known.

"Small companies in Northern Ireland have already raised around £8.7m of additional equity investment over the past six years as a result of their participation in Seedcorn, bringing the total on the island of Ireland to £71.8m," he said.

One success to date is that of Newry Company Media Lightbox.

It has gone from strength to strength since winning Best Emerging Company at last year's finals.

The firm offers an innovative web-based media asset solution for storing and sharing media files as images, video, audio, pdf print marketing collateral, vector files, presentations, documents, fonts or 3D models.

Director Shane Meehan said: "Our profile has been substantially raised since our Seedcorn success.

"We have enjoyed steady sales growth despite the current economic downturn and have ambitious plans to target the lucrative US market.

"We've just secured a deal with the National Trust for Media Lightbox to be used as a project management tool for the construction of the new Giant's Causeway Visitor Centre and have a number of innovative product development plans for 2009, including one for an iPhone application for our product," he explained.

Further infromation: www.seedcorncompetition.com

(BMcC/JM)