Final countdown: start-ups compete for grand prize worth over €140k

The final event in the AIB Start-up Academy is on tonight, when the 11 finalists will take to the stage to vie for a grand prize worth over €140,000.

The pressure is on for the entrepreneurs, who must compete against each other after becoming friends during the eight-week Academy. They will each pitch for five minutes, and a panel of judges will choose the winner on the spot.

"It's 140 grand for a five-minute pitch, so it's the most well-paying job I've ever had the opportunity to go for in my life," said James Winans of Vanguard Beer Collective, one of the finalists.

"It would be a huge deal for any one of us to win the prize," said Gail Condon, founder of personalised children's book company Writing for Tiny.

The top start-up will be able to promote their brand with a total of €140,000 in advertising spending. That includes €50,000 with The Irish Times and €90,000 with JOE.ie and Her.ie. The winner will be profiled on JOE.ie and Her.ie for a year.

Perhaps even more valuable, though, is the professional mentoring lined up for the AIB Start-up Academy winner.

The head of digital marketing and innovation at AIB will provide digital and media mentoring, while the AIB brand director will advise the company about branding.

The company’s finances will be reviewed and whipped into shape by the SME specialist at AIB.

The 11 finalists are from an array of sectors, from food to technology. The winner will be mentored by a sector specialist at AIB.

Another mentor lined up is Maximum Media owner Niall McGarry, creator of JOE.ie and Her.ie.

Irish Times Training will provide a one-to-one coaching programme. There will be a full-day public relations crash course.

The winning company will get to relocate to The Irish Times building in Dublin. The prize includes office space for one year and a media workshop from The Irish Times editorial team.

The 11 start-ups, whittled down from hundreds of applicants, have spent the past eight weeks honing their business message and learning how to tell their story. The countdown is on for their final exam: pitch night.