- By Admin My Live Medical
- In News
- Posted September 21, 2018
My Live Medical is one of three start-up companies that has reached the final of the InterTradeIreland Seedcorn Investor Readiness Competition in the New Start Company Category.
The Seedcorn competition mirrors the real-life investment process. It is aimed at early and new start companies that have a new equity funding requirement, helping them to become investor-ready. The competition has a total cash prize fund of €280,000.
The New Start Company Category is for those start-ups seeking to raise new equity of between €50,000 and €299,999. There is a second Early Stage category for companies seeking to raise new equity above €300,000.
Having submitted a presentation deck, video and business plan to reach this stage, the three Dublin Regional finalists will pitch to a judging panel at the Dublin final. The regional winner will win €20,000 and go forward to compete against 5 other regions in the All-Island competition. This final will take place in Belfast on Wednesday 21 November 2018.
The judging panel will select the two overall Category winners and these will be announced at the award ceremony the same evening. Overall winners will receive their prize (either €50,000 as Cateogry Winner or €100,000 for Overall Winner) payable by instalments based on achieving the key performance indicators in the business plan to finance the early stages of the venture.
My Live Medical is an online platform that makes is easier for organisations to manage medical reports by taking the process online.
Speaking after the announcement of the Regional finalists, Adrian O’Farrell, CEO of My Live Medical said
‘We are thrilled to be one of just three finalists in the Dublin Region. We consider this an endorsement of the thinking that has underpinned our venture, which we believe to have massive potential to reshape the way the Insurance industry in Ireland, both North and South, manages medical reports. The benefits include more accurate, complete and quicker turnaround of medical reports, leading to more accurate reserves being set, more direct settlements and reduced admin time for all.