Votechnik claimed first prize in Limerick Institute of Technology’s (LIT) LEAP Business Awards for 2011/2012. With an equity investment from AIB Seed Capital, which is managed by Enterprise Equity, to the tune of €50,000. Votechnik also received a cheque from LIT of €5,000, plus €25,000 worth of consultancy/supports and legal advice from one of Ireland’s best known firms Holmes O’Malley Sexton, mentoring from the Discovery Partnership and free membership of Limerick Chamber. In addition Votechnik received an award for best Intellectual Property, sponsored by the HDS Partnership.
Votechnik technology is driven by international regulatory directives on the mandatory removal of hazardous materials from LCD screens. Materials contained within LCD screens hold significant financial value and recycling organisations actively tender for the opportunity to recycle screens. Votechnik’s technology will be capable of recycling up to 80 units per hour, compared to the current manual rate of three to four units per hour by recycling companies.
Speaking after the announcement of the awards, founder and CEO of Votechnik Dr Lisa O’Donoghue, said: “I have been very fortunate to have enjoyed mentoring and support on a range of areas of the business, including developing a business plan ready for market, through the LEAP programme over the past 12 months. But this award is a huge boost for my company and at a critical time. Securing funding is extremely difficult in the current environment for start-ups, but the package available now, including the equity offer from AIB Seed Capital Fund, gives the business great security at what is a really exciting and a very important stage of its development.”
Frank Walsh, a partner in Enterprise Equity, which jointly manages the AIB Seed Capital Fund said: “AIB Seed Capital recognises the huge contribution which entrepreneurship has to play in the economic recovery, and incubation programmes, such as LIT’s LEAP programme, play an important part stimulating and supporting entrepreneurship,” “Votechnik led by Dr Lisa O’ Donoghue is an extremely worthy winner for its technological innovation and leadership and we look forward to working with them in the future.”
Photo: Dr Lisa O’Donoghue, CEO Votechnik, Mr.Frank Walsh, Enterprise Equity, Dr. Maria G. Hinfelaar, President LIT