Startup company at UL’s Nexus Innovation Centre Wins Intertrade Ireland Seedcorn Competition
November 26, 2015
Start-up company Ocean Survivor, based in the Nexus Innovation Centre in UL, is riding on the crest of a wave having won this year’s Intertrade Ireland Seedcorn competition. Owner Kieran Normoyle has developed a simple to use technology that mitigates the effects of hypothermia, while promoting comfort and mental well-being in a survival situation. While in a cold environment 20-30 minutes of exposure can result in a drop of core body temperature to below 35 degrees Celsius. Ocean Survivor’s technology reduces this core heat loss and transfers heat to vital organs.
Commenting on his successful win Kieran Normoyle references the valuable support networks and sheer hard work and determination required by every start-up. “This completion has helped to focus our business strategy and fast track product testing and certification. Our initial plans are to launch our product into the oil and gas sector and expand into renewable energy and fishery”.
The Seedcorn competition is the largest business competition for early stage/high growth companies with a prize fund of €280k. It mirrors the real life investment process and can greatly improve a company’s ability to attract investment for their business by helping companies become investor ready.
Nexus Centre Manager Gert O’Rourke comments “Nexus is delighted to encourage and support startup companies like Ocean Survivor in their early development plans. Initiatives like the Intertrade Ireland seedcorn competition help validate an outstanding idea/commercial venture and provide a platform to showcase and promote their business ideas, leverage a valuable networks and get feedback and support”.
For more information please visit www.nexusinnovation.ie or www.oceansurvivor.eu