Mayo company wins prestigious national distinction worth €50,000

Galenband has been selected as the Best Early Stage Category winner of the InterTradeIreland Seedcorn Investor Readiness Competition, walking away with a cash prize of €50,000 to invest in their business.

The Ballina company 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.

The annual InterTradeIreland Seedcorn All-Island Final took place in Clontarf Castle yesterday.

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.

Oisín McGrath, co-founder and chief executive of Galenband, said: “Winning the Best Early Stage company at the InterTradeIreland All-Island final is a testament to the work our team has done to place the company in an investor-ready position.

"Our groundbreaking cardiac telemetry device, Galenband, will make a tangible impact on healthcare by contributing to reductions in stroke, and this win will open doors for us as we raise our seed round to support key product and regulatory milestones on our journey to market."

Congratulating the winners, Margaret Hearty, chief executive at InterTradeIreland, said: “The diverse range of companies participating in this year’s InterTradeIreland Seedcorn competition has been a testament to the vibrant entrepreneurship ecosystem on the island of Ireland.

"Year-on-year, the competition attracts start-up and early-stage companies that are at the cutting-edge of their industry and this year has been no exception."