IMPORTANT NOTICE - CHANGE TO ELIGIBILITY CRITERIA

It is important that Applicant companies self select for the appropriate Competition category in terms of initial registration and subsequent formal application and submission of Business Plan.

Please note the following recent changes made to the eligibility criteria by the Seedcorn Competition sponsors, InterTradeIreland Equity Network.
The projected sales targets have been revised and the new criteria are as follows:

High Growth:	Have �Substantial sales targets� which means cumulative projected sales in excess of €5m (or sterling equivalent), by year 3, 4 or 5. These sales targets must be reflected in the financial projections.
Emerging:	Have cumulative projected sales targets of less than €5m (or sterling equivalent) by year 3, 4 or 5. These sales targets must be reflected in the financial projections.

All other criteria remain unchanged.

The two Competition categories for entry are:

1. High Growth Company


• To be eligible for the High Growth Company category the company must:
1. Not be in existence for more than five years at 25th September 2009
2. Have a current new equity requirement of at least €500,000 (or sterling equivalent) which is clearly demonstrated in the business plan, and
3. Have substantial sales targets. �Substantial sales targets� means cumulative projected sales in excess of €5m (or sterling equivalent), by year 3, 4 or 5. These sales targets and revenue mix must be shown in the financial projections.



2. Emerging Company


• To be eligible for the Emerging Company category the company must:
1. Not be in existence for more than three years at 25 September 2009
2. Have a new equity requirement of at least €100,000 (or sterling equivalent) which is clearly demonstrated in the business plan, and
3. Have cumulative projected sales targets of less than €5m (or sterling equivalent) by year 3, 4 or 5. These sales targets must be shown in the financial projections.

You may find the following indicators useful when considering which category you should enter:

High Growth:	You should be a global player targeting international markets and ideally a candidate for venture capital/equity investment.
Emerging:	Your Company is typically at an earlier stage of development and a candidate for angel investment now, followed by venture capital/equity investment later depending on overall funding needs to scale your business.

Please note that InterTradeIreland reserve the right to re-categorise an entry from that selected by an Applicant when registering for the competition. This is to ensure that the spirit and ethos of the competition is maintained.