Tethras Technology Ltd has been named the Best High Growth Company in the Dublin regional final of the InterTradeIreland 2011 Seedcorn All-island Business Competition.

Tethras, which is headquartered at NovaUCD, the Innovation and Technology Transfer Centre at University College Dublin, beat tough competition from two other Dublin finalists to win a €20,000 prize.  The company will now go on to compete in the all-island final of the competition which will take place in Dublin on 30 November 2011. 

 
Brendan Clavin and Brian Farrell, co-founders, Tethras

Seedcorn is the island’s biggest business competition for early-stage or high-growth companies in any sector, from any part of the island.  The competition, aimed at companies who have a new equity funding requirement, has a record prize fund of €280,000.

Tethras provides end-to-end localisation services for mobile application developers. Tethras' localisation service allows app developers to easily adapt their software to different languages.  Tethras has developed a cloud-based localisation service which provides their customers with a fast, uncomplicated and significantly more cost effective way of getting their apps into the hands of non-English speaking smartphone users. By managing the complexity of this process, Tethras saves app developers significant time and effort.

Brian Farrell, CEO, Tethras Technology said, “We are very happy to have won the Dublin final.  This has been a very exciting and beneficial competition for us to be involved in.  Seedcorn has given us the opportunity to test our business plan as well as refining our fund raising efforts. Having had access to InterTradeIreland's master class and investor seminars has been of great benefit to Tethras."

 Liam Nellis, Chief Executive, InterTradeIreland added, “The calibre of the finalist companies in the Dublin final was second to none.  The wealth of innovative thinking and creativity across the island of Ireland is extremely promising and we are delighted to be able to work with some of the best up-and-coming businesses in the crucial early stages.  Congratulations to Tethras for its worthy win.  This is a company that is making innovative advancements in the App development space.”

Tethras will go head-to-head with the winners of the, Northern Ireland, Munster and Connacht & Leinster finals for the title of overall Best High Growth Company.  The all-island finals will take place in Dublin on 30November, where companies are in with a chance to compete for the overall Best Emerging Company prize worth €50,000 or the overall Best High Growth Company prize worth €100,000. 

InterTradeIreland’s All-island Seedcorn Business competition, now in its ninth year, is the largest business competition on the island. Previous finalists of the competition have gone on to secure more than €140 million worth of equity since taking part.

ENDS

15 November 2011

For further information contact Micéal Whelan, Communications Manager (Innovation), UCD, e: miceal.whelan@ucd.ie, t: + 353 1 716 3712 or Brian Farrell, CEO, Tethras, t: + 353 1 716 3760, e: bfarrell@tethras.com.

Notes to Editors

The InterTradeIreland Seedcorn Business Competition is the island’s biggest business competition for early stage/high growth companies in any sector on any part of the island.  The competition, aimed at companies who have a new equity funding requirement, has a record prize fund of €280,000. All companies who enter the competition will also automatically become part of the Seedcorn Network – an extensive business community which will help boost the company’s profile, contacts and investment opportunities. By taking part, previous Seedcorn finalists have attracted millions of euro worth of new equity funding. www.intertradeireland.com/seedcorn/

InterTradeIreland is the only organisation which supports SMEs across the island to develop North/South trade and business development opportunities for the mutual benefit of both economies. InterTradeIreland encourages better use of Ireland’s collective resources to accelerate trade and business growth across the island and create an environment where it is easier to do business. It achieves this through co-operative business, policy and research programmes, partnerships and networks. www.intertradeireland.com/

Tethras Technology Ltd was founded in 2010 by Brian Farrell and Brendan Clavin to provide a complete localisation service specifically for mobile application developers. Tethras’ service localises Apps into all languages supported by iOS and has an extensive network of specialist translators around the world. The company is headquartered in NovaUCD, the Innovation and Technology Transfer Centre, with its US headquarters located in Mountain View, California. www.tethras.com

NovaUCD, the Innovation and Technology Transfer Centre, is the hub of innovation and knowledge transfer activities at University College Dublin. NovaUCD is responsible for the commercialisation of intellectual property arising from UCD research and for the development of co-operation with industry and business. NovaUCD as a purpose-built centre also nurtures high-tech and knowledge-intensive enterprises such as Tethras. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx. www.ucd.ie/nova