InterTradeIreland has named Gasgon Medical as the overall winner of its Seedcorn investor readiness competition, pocketing a cash prize of €100,000.

Gasgon Medical, based in Cork, 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 a nurse to intervene, by automatically capturing air bubbles before they become a problem, saving medical professionals’ time and preventing IV drug exposure.

Chief executive Vincent Forde 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.

"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.

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“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.”

STYL.wrap, in Waterford, won the new start category and a cash prize of €50,000. The company has developed a cloud-based platform to reverse engineer sizing and fit in the fashion supply chain.

Offering online fashion retailers an AI-based sizing solution, the platform aims to reduce waste, over-production, and high levels of returns, saving brands millions and helping them achieve sustainability goals.

The special award of €10,000 went to Limerick-based AgriGuardian, as best venture arising from a university spin-out or support programme. AgriGuardian has developed a wearable and app solution platform to improve farm safety for vulnerable farm-goers.

InterTradeIreland funding manager Shane O’Hanlon commented: “New start and early stage businesses are vital to the economy, both north and south, and through Seedcorn we provide these high potential startups 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. Gasgon Medical, STYL.wrap and AgriGuardian are fantastic examples of what companies on this island have to offer."

A new sustainability/low carbon award was won by GlasPort Bio, an environmental biotech startup in Galway that develops methane reduction technology for the farming sector.

More on the Seedcorn programme here.

Photo: Vincent Forde with Shana Chu, CEO of STYL.wrap. (Pic:  Kelvin Boyes/Press Eye)