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Donegal company named 'Best New Start' wins €50,000 prize at final of InterTradeIreland Seedcorn competition

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Donegal company named 'Best New Start' wins €50,000 prize at final of InterTradeIreland Seedcorn competition

Paul O'Sullivan, InterTradeIreland board member, presenting the overall award for Best New Start Company to Gillian Doyle from Cerebreon Technologies. Picture Conor McCabe Photography.

Donegal company Cerebreon Technologies has been named Best New Start Company at the final of the 2017 InterTradeIreland Seedcorn Investor Readiness Competition.

Cerebreon Technologies scooped the top prize of €50,000 and the title of Best New Start Company at the 15th annual InterTradeIreland Seedcorn Investor Readiness Competition at the grand final in Dublin. InterTradeIreland’s Seedcorn competition is the island’s biggest business competition for new start and early stage companies and is aimed at companies with a new funding requirement.

The Portnoo-based company is developing fintech software targeted at the UK insolvency industry.  It brings an advanced level of machine intelligence and automation to the processes involved in insolvency. Its software also improves compliance with financial regulators and will reduce the amount and duration of the debtor’s arrangement.

The award was presented by Paul O'Sullivan, InterTradeIreland board member to Gillian Doyle from Cerebreon Technologies.

Welcoming the successful conclusion of InterTradeIreland’s Seedcorn competition, An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald TD, said: “I heartily congratulate this year’s winners and I want to thank InterTradeIreland for organising this event.  Securing funding can be a challenge for early stage companies and, while there can only be two major winners of the generous Seedcorn Competition funded by InterTradeIreland, all 276 companies which participated in the process will have benefitted from the competition and should now be a better position to pursue outside investment as their companies develop. I wish them all the very best for the future”.  

Commenting on the announcement of the winners, 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, north and south.  Entrepreneurs and innovators are essential to the health of every economy and InterTradeIreland is proud to support them as they turn ideas into action.  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.  I wish them and indeed all those companies who entered this year all the best for the future.”

The Seedcorn competition is aimed at new start and early stage companies which have a new equity funding requirement.  It has an overall cash prize fund of €280,000, with no equity stake.  Since it started in 2003, the 2775 companies that have gone through the competition have raised over €229m.

Ken Nelson, InterTradeIreland Chairman presenting the award for Best New Start Company to Gillian Doyle, Ken Doherty and Charlie Faurisson from Cerebreon Technologies. Picture Conor McCabe Photography.