Menu
25/11/2010
High Flying NI Firm Wins Island-wide Award
One of NI's newest businesses, Lenis Aer - a University of Ulster spin-out venture - has been recognised as one of the best early stage companies on the island.
The company was announced as the overall winner for best venture stemming from a university spin-out / platform programme at InterTradeIreland's Seedcorn All-island business competition final, which was held in the Europa Hotel on Wednesday 24th November.
Lenis Aer has developed a highly innovative and patent-protected process for the manufacture of aircraft engine 'Lip Skins'.
A Lip Skin is the leading edge of an aero engine surround structure and by producing a unit that is considerably deeper than traditional skins, Lenis Aer's offering achieves reduced turbulence and drag which delivers considerable fuel cost savings for the aircraft company.
Accepting the award and a cash-prize of €10,000 on behalf of Lenis Aer were company directors, Edel O'Neill and Alan Leacock. Edel O’Neill commented: "InterTradeIreland's Seedcorn competition is widely acknowledged for its impact on emerging and high growth companies.
'Having just been established as a company within the last two months, we are delighted to join this elite group at such an early stage in our development.
"In this product, we have brought advanced process methodology to the market-place which is worth an estimated £4 billion over the next twenty years."
Also recognised at the awards ceremony were local finalists, Belfast-based LamhRoe and instaGiv, Portstewart. Both companies took home a €20,000 share of prize fund as the Northern Ireland regional winners for the Best High Growth and Best Emerging Company categories.
The regional winners missed out on the overall all-island prize funds but as finalists in the flagship competition they have been tipped as the 'ones to watch' in the coming years. Previous finalists have gone on to secure over £109 million in equity funding since taking part in the InterTradeIreland Seedcorn Business competition process.
Recognising the achievements of the successful local companies, Enterprise, Trade and Investment Minister Arlene Foster said: "I would like to congratulate Lenis Aer, LamhRoe and InstaGiv on their tremendous achievement in InterTradeIreland's Seedcorn Business competition.
"High potential growth companies play an important role in our economy and initiatives such as the Seedcorn competition provide much needed support for local firms at a crucial stage in their early development."
InterTradeIreland Chief Executive Liam Nellis added: "Once again, the quality of the business plans we received is a testament to the level of innovation and entrepreneurial excellence of our SMEs North and South.
"InterTradeIreland's Seedcorn competition is now in its eight year and has grown to become the biggest business competition on the island of Ireland. Many of our previous finalists have gone on to become international success stories we have great hopes for our 2010 winners and are proud to support them as they embark on their ambitious growth plans."
(BMcC/GK)
The company was announced as the overall winner for best venture stemming from a university spin-out / platform programme at InterTradeIreland's Seedcorn All-island business competition final, which was held in the Europa Hotel on Wednesday 24th November.
Lenis Aer has developed a highly innovative and patent-protected process for the manufacture of aircraft engine 'Lip Skins'.
A Lip Skin is the leading edge of an aero engine surround structure and by producing a unit that is considerably deeper than traditional skins, Lenis Aer's offering achieves reduced turbulence and drag which delivers considerable fuel cost savings for the aircraft company.
Accepting the award and a cash-prize of €10,000 on behalf of Lenis Aer were company directors, Edel O'Neill and Alan Leacock. Edel O’Neill commented: "InterTradeIreland's Seedcorn competition is widely acknowledged for its impact on emerging and high growth companies.
'Having just been established as a company within the last two months, we are delighted to join this elite group at such an early stage in our development.
"In this product, we have brought advanced process methodology to the market-place which is worth an estimated £4 billion over the next twenty years."
Also recognised at the awards ceremony were local finalists, Belfast-based LamhRoe and instaGiv, Portstewart. Both companies took home a €20,000 share of prize fund as the Northern Ireland regional winners for the Best High Growth and Best Emerging Company categories.
The regional winners missed out on the overall all-island prize funds but as finalists in the flagship competition they have been tipped as the 'ones to watch' in the coming years. Previous finalists have gone on to secure over £109 million in equity funding since taking part in the InterTradeIreland Seedcorn Business competition process.
Recognising the achievements of the successful local companies, Enterprise, Trade and Investment Minister Arlene Foster said: "I would like to congratulate Lenis Aer, LamhRoe and InstaGiv on their tremendous achievement in InterTradeIreland's Seedcorn Business competition.
"High potential growth companies play an important role in our economy and initiatives such as the Seedcorn competition provide much needed support for local firms at a crucial stage in their early development."
InterTradeIreland Chief Executive Liam Nellis added: "Once again, the quality of the business plans we received is a testament to the level of innovation and entrepreneurial excellence of our SMEs North and South.
"InterTradeIreland's Seedcorn competition is now in its eight year and has grown to become the biggest business competition on the island of Ireland. Many of our previous finalists have gone on to become international success stories we have great hopes for our 2010 winners and are proud to support them as they embark on their ambitious growth plans."
(BMcC/GK)
Related Northern Ireland News Stories
Click here for the latest headlines.
18 August 2011
All Ireland 'Seedcorn' Business Bid Hots-up
Businesses hoping to be in with a chance of winning their share of a €280,000 cash investment in this year's InterTradeIreland All-Island Seedcorn Business Competition have only got a month left to submit their entries. Liam Nellis, InterTradeIreland Chief Executive, (pictured here) is encouraging local companies to take part.
All Ireland 'Seedcorn' Business Bid Hots-up
Businesses hoping to be in with a chance of winning their share of a €280,000 cash investment in this year's InterTradeIreland All-Island Seedcorn Business Competition have only got a month left to submit their entries. Liam Nellis, InterTradeIreland Chief Executive, (pictured here) is encouraging local companies to take part.
13 February 2024
NI Fastest Growing UK Region For New Companies
Northern Ireland was the fastest-growing region of the UK for newly registered companies in 2023, according to a new index from Ulster Bank and Beauhurst. The New Startup Index highlights how in 2023 Northern Ireland gained 14,000 new companies, a 59% increase on 2022.
NI Fastest Growing UK Region For New Companies
Northern Ireland was the fastest-growing region of the UK for newly registered companies in 2023, according to a new index from Ulster Bank and Beauhurst. The New Startup Index highlights how in 2023 Northern Ireland gained 14,000 new companies, a 59% increase on 2022.
04 May 2010
Seedcorn Offer To Boost Irish Commerce
Entrepreneurs from across Ireland could get a huge cash boost for their business, thanks to a prize fund of €280,000 being offered by InterTradeIreland's Seedcorn All-Island Business Competition 2010. The competition is the largest on the island in terms of the prize fund available and in the past has helped give fledgling firms 'lift-off'.
Seedcorn Offer To Boost Irish Commerce
Entrepreneurs from across Ireland could get a huge cash boost for their business, thanks to a prize fund of €280,000 being offered by InterTradeIreland's Seedcorn All-Island Business Competition 2010. The competition is the largest on the island in terms of the prize fund available and in the past has helped give fledgling firms 'lift-off'.
15 June 2010
Intertrade Ireland Boosts Innovation
An all-island technology transfer programme FUSION, is to help businesses innovate and improve their products, processes or services.
Intertrade Ireland Boosts Innovation
An all-island technology transfer programme FUSION, is to help businesses innovate and improve their products, processes or services.
14 November 2008
Go-Ahead Firms Win Seedcorn Round
Two companies have won €20,000 each and a chance to share in a total prize fund of €280,000 after clinching the Northern Ireland regional titles in the InterTradeIreland Seedcorn Business Competition 2008.
Go-Ahead Firms Win Seedcorn Round
Two companies have won €20,000 each and a chance to share in a total prize fund of €280,000 after clinching the Northern Ireland regional titles in the InterTradeIreland Seedcorn Business Competition 2008.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
