j16,000 on offer to young entrepreneurs

Gary Leyden of the NDRC
Gary Leyden of the NDRC

Young entrepreneurs have just another week to get their entries in for a competition that could net them €16,000 in start-up funds.

Run by The Ireland Funds in partnership with the Dublin based National Digital Research Centre (NDRC), the Business Plan Competition, is now in its sixth year.

It invites students and recent graduates from across the island of Ireland to submit their business ideas for a chance to win €10,000 and the opportunity to pitch for a place on Ireland’s leading early stage digital accelerator, NDRC.

The competition aims to nurture creativity and hone entrepreneurial skills amongst emerging and early stage entrepreneurs.

“Growing a culture of digital entrepreneurship is a key goal of NDRC and a competiton like this is a great way to start stimulating those individuals and teams who may have a good idea but are not sure of its potential,” said commercial director Gary Leyden,.

“Up to 10 individuals or teams will be selected to take part in three days of workshops, bringing their business ideas from concept to pitch, receiving mentoring and feedback throughout the process.”

There will be a final pitching event and three prizes will be awarded. The winner will receive a €10,000 cash prize and the opportunity to pitch for a place on an NDRC investment program. Second place will receive a €5,000 cash prize and, 3 rd prize €1,000.

Over the last 12 months, 2016 winners Sothic BioScience have been travelling around Europe meeting investors and they are currently submitting a proposal for Horizon 2020 SME instrument funding.

Second runners up, GlowDx are working towards their 2019 launch in Latin America.

Their goal is to revolutionise how infectious diseases are treated in developing countries, with modern molecular diagnostics. Unituition, who came third in 2016, now has tutors across Ireland and is growing month on month.

Applicants can apply online before June 13.