Cork-based medtech firm Gasgon Medical has been named the overall winner of the InterTradeIreland Seedcorn Investor Readiness Competition, pocketing a cash prize of €100,000.
Kelvin Boyes Kelvin Boyes / Press Eye
Press Eye - Northern Ireland - 25th November 2021 2021 InterTradeIreland Seedcorn at Clontarf Castle Hotel, Dublin. Photo by Kelvin Boyes / Press Eye.
The largest competition of its kind on the island of Ireland, Seedcorn this year offers a record total cash prize fund of €300,000. As well as cash awards for the winners, all participants in the competition benefit from business planning workshops and mentorship support throughout the competition.
Gasgon Medical manufactures AirVault, a device for removing air bubbles from flowing fluids aimed primarily at medical IV infusions, the most common invasive therapy in modern healthcare. AirVault technology eliminates the need for manual nurse intervention by automatically capturing air bubbles before they become a problem – saving medical professionals time and preventing IV drug exposure.
Following his win, Vincent Forde, CEO, Gasgon Medical said: “It is a huge honour to be named overall winner of this prestigious competition. It gives us a major boost as we close our fundraising round. The Seedcorn experience has been invaluable for us. Seedcorn has given us incredible feedback on our pitch and our business plan, some of which we have implemented already, getting us additional funding from investors we are speaking with.
“Our key objectives in the coming months are around product development and market strategy. This prize money will help us find the best people to grow our team as we move towards bringing our product to market.”
Congratulating the winners, Shane O’Hanlon, funding for growth manager at InterTradeIreland, added: “New start and early-stage businesses are vital to the economy, both North and South, and through Seedcorn we provide these high potential start-ups with support and guidance that will help develop their business propositions. By replicating the real-life investment process, we give these innovative young companies the opportunity to put their ideas to the test, and ensure they are investor-ready.”
