AspiraCon were named as the winner of the Best International Emerging Company, while fello Munster based group Food-NPD Teoranta were also announced as the Munster regional winner in the Best Emerging Category.

Food-NDP Teoranta, based in Waterford, which was established in December of 2006 by Donal Lehane, will develop, produce and commercialise a range of good flavoured, healthy, convenience foods that fit modern trends. The first range of products will be launched early in 2008. Food-NDP Teoranta is now in the running for a prize fund of €50,000. 

Ann Heraty, CPL, a judge for the finals, was impressed by the entrants, saying, “The quality of the submissions of the business plans from all the finalists has been extremely high. The breath of projects across several sectors clearly demonstrated exceptional innovation and creativity”.

The competition, which has the largest prize fund in Ireland of €280,000, received hundreds of expressions of interest from ventures all over Ireland. The overall winners in both categories, the Best Emerging International Company and the Best Emerging Company in Ireland will be announced at the final in Dublin on Thursday, November 29. 

To enter the Emerging International Company category, businesses had to be in existence for not more than five years and have a private equity requirement in excess of €300,000. Substantial international sales targets were also required. To enter the second Emerging Company category, businesses had to be younger than three years and have a private equity requirement in excess of €75,000 but less than €300,000.

Grainne Lennon, project manager for the InterTradeIreland Seedcorn competition said, “All regional finalists were of exceptional quality this year. Any of the proposals would make for an attractive proposition for any potential investor”. Last year’s Munster finalist was EnBIO the cork-based company who went on to win the overall prize of €100,000.

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