Mayo winner at Seedcorn Investor Readiness regional final

A MAYO company is among the winners at the InterTradeIreland Seedcorn Investor Readiness Connacht and Leinster regional final.

Ballina-based Galenband has won the Best Early Stage award, with a €20,000 prize, and will now advance to the All-Island final in Dublin on November 9.

This is the largest business competition of its kind on the island of Ireland, with an overall prize fund of €300,000.

Galenband is developing a diagnostic heart telemetry system worn on the left arm, replacing invasive and expensive surgically implanted heart monitors that are presently the only options for long-term monitoring. Galenband will allow the application of treatment much earlier than has been conventionally possible, reducing stroke rates.

Oisín McGrath, co-founder and chief executive of Galenband, said: “We are delighted to win this award, which is a testament to the innovation and potential of our groundbreaking cardiac telemetry device - Galenband.

“We have seen companies benefit from participating in Seedcorn through enhanced exposure with venture capitalists, angel investors, and potential corporate investors, so we decided to apply. The feedback we have received thus far has contributed to a streamlining of our pitch and business plan, which will prove valuable in bringing this paradigm-changing technology to market.”

Leaders of six innovative start-up and early-stage companies from across Leinster and Connacht (including Donegal, Cavan and Monaghan) took part in a competitive final where they presented their investment proposal to a panel of judges that included active investors.