Sports Students win €60,000 entrepreneurs award
28th November 2002

This year's DCU Mallin-Invent Award (worth €60,000) has been won by Daragh Sheridan and Neil Coleman, of Xcelsports Ltd. The Award was presented by The Tanaiste, Ms Mary Harney, td.

Speaking at the presentation of the Award, the Tanaiste stressed the importance of entrepreneurship for economic growth and job creation. "Much of Ireland 's growth in the past has been as a result of inward investment, however as we now look to the future, the growth of our indigenous sector is critical to our long term success. High level knowledge based enterprises that draw on the skills and education of our university graduates have the capacity to create sustainable jobs and retained profits in this country."

Liavan Mallin (the entrepreneur behind the scheme) compared the environment in the US with that in Europe. "Thirty years ago, the US had twice the unemployment of France and Germany. Since that time, the private market for labour in the US has expanded by 70% - most of the growth coming from new businesses-while in Europe it has stagnated. Today, France and Germany have almost twice the unemployment of the US.

The purpose of the Mallin-InVent Award is to help the winners transform their ideas into a viable commercial enterprise.

Invent was officially opened by the Tanaiste a little over a year ago with financial support from Enterprise Ireland, AIB and the DCU Educational Trust. Invent now has twelve companies in situ and three of these have received support from Enterprise Ireland. Invent has the capacity to accommodate twenty start-up companies.

The prize fund:

• €10,000 cash from Liavan Mallin
• Car from Finglas Motors
• Laptop and printer from Dell Ireland

+ 12 months:

• Free accommodation in InVent
• Audit, accounts set-up advice from KPMG
• Legal advice from A&L Goodbody
• Tax advice from David Clancy & Associates
• Marketing strategy advice from Quaestus
• Presentation skills from Drury Communications
• Design from Baseline Creative Services
• Business development and marketing/communications support from DCU

The judging panel:

Liavan Mallin - a serial entrepreneur who has founded successful companies in the telecommunications, property, IT and mail order sectors in Ireland, the US and Czech Republic.
Des Doyle - Manager of the High Potential Start-up Programme with Enterprise Ireland
Tim McCarthy - General Manager, Dell Ireland Sales
Barry Maloney - General Partner, Benchmark Capital
Colin O'Brien - MD, KPMG Business Development Services
John Kelly - Head of Business Banking, AIB

The winner:

After a period of research, Xcelsports began operations in the summer of 2002. Set up by two third-year Sport Science & Health students, Daragh Sheridan and Neil Coleman, the company provides a variety of services to the sports sector ranging from sport science and fitness to IT skills and psychological guidance. The students combine running the company with their studies and Daragh also plays centre midfield for Longford Town.

Based in DCU's InVent centre, Xcelsports currently offers three services:

1. Project REAP - a six-week live-in programme designed for young soccer players who have been deselected from their UK premiership clubs and find themselves ill equipped for life and careers outside professional soccer. The project is sponsored by the FAI and the English PFA (Professional Footballers Association). *

2. Sport science support to elite and junior level sports teams and athletes in Ireland. Drawing on the expertise of senior academics from the areas of exercise physiology and sports psychology, this service aims to provide fitness assessment and programmes to raise performance across a range of sports. They have already begun as official sport science support to Longford Town.

3. A range of unique soccer schools targeting specific markets.
- Cúl is a special residential camp aimed at the Irish-American market. The plan is to bring young Irish-American kids over to Ireland to develop their soccer skills and experience Irish culture.
- Little Kickers Soccer Academy: Aimed at boys and girls 6-15 this academy will run all year round and will chart the development of the players over the period.

Ends.

For further details please contact:

Eilis O'Brien, DCU:ph: 700 5217
Leah Lynch ph: 700 5721