Medical software company Tracworx has been named overall winner in InterTradeIreland’s seedcorn investor contest, taking away a cash prize of €100,000.

The Limerick company has developed a patient tracking system that uses WiFi networks in a hospital, allowing it to automate its data collection and generate reports using real-time data. The company was established in 2016 by three college students, Chris Kelly, Fionn Barron and Eoin O’Brien.

Chief executive Chris Kelly said: “We are over the moon to be named overall winners for Seedcorn 2019.The whole process has been invaluable, and the backing of InterTradeIreland will provide us with a wealth of opportunity as we look to take our business to the next level. 

“We’ve learned more about ourselves and where our focus must shift to reach the next level. Our aim for 2020 is to continue our growth in Ireland and enter the UK and international markets.”

The three Tracworx founders funded their startup with investment of €1,667 each in operating company Pinpoint Innovations Ltd, and secured €50,000 seed funding from Enterprise Ireland.

In Association with

In December 2018 the company raised €510,000 in a funding round led by Frontline Ventures, which invested €250,000. Barry Lunn, Barry Moore, Patrick Mulholland and Sean Osborne each invested €50,000 in that round

Atlantic Photonic Solutions  won the Best New Start award and a cash prize of €50,000. APS has developed a harmless, fish-friendly light that aims to remove sea lice from farmed salmon.

Managing director Rory Casey said: “The Seedcorn process has allowed us not only to become investor ready but hone our presentation skills and condense and refine business opportunities. Seedcorn has already opened so many doors for us, and we look forward to an exciting 12 months ahead.”

The competition, aimed at companies that have a new equity funding requirement, has a total cash prize fund of €280,000.

Photo (l-r): Tracworx CTO Eoin O’Brien, CEO Chris Kelly and COO Fionn Barron, with  Rory Casey, managing director of Atlantic Photonic Solutions