Mavarick has been announced as the overall winner of the InterTradeIreland Seedcorn Investor Readiness Competition, walking away with a cash prize of €100,000 to invest in their business. The Limerick company has developed a platform that generates real-time information to help manufacturers make better decisions to achieve additional capacity, reduce machine downtime and increase profitability.
Seedcorn is the largest business competition of its kind on the island of Ireland with an overall cash prize fund of €300,000. Designed to help start-ups and early-stage businesses get investor ready, the competition provides participating companies with the opportunity to improve their investment pitches, get expert feedback on their business plans and gain exposure to venture capitalists, business angels and some of the island’s leading industry experts and entrepreneurs.
The competition’s Sustainability / Low Carbon Award and its €20,000 prize was also awarded to Mavarick, as recognition of the best investment proposal from a company operating in the low carbon / green sector. Dr Paul Byrnes, Mavarick AI, Chief Executive and Co-Founder, said;
We are absolutely delighted to be announced as Overall Winner of InterTradeIreland Seedcorn 2023, Best New Start, and Sustainability / Low Carbon Award. The InterTradeIreland Seedcorn competition is a fantastic all-island initiative, and it is great that they are recognising companies for their work on sustainability and carbon reduction innovation. The competition has been an invaluable experience and we have learned a lot about the investment process that will really help us in the next stages of our business plans. Mavarick is a company founded by second-generation manufacturers, and we look forward to continuing to help manufacturers balance sustainability and productivity.