TWO TECHNOLOGY companies have beaten more than 220 other hopefuls to win the 2009 Seedcorn Business Competition.

Limerick-based software company Cauwill Technologies won the “best emerging company” award for its PinPoints application, which helps users locate their hotel using their mobile phone.

Since the launch of the product in July this year, the company has secured subscribers in more than 66 countries.

The “best high-growth company” was awarded to Sophia Search, a Belfast-based company that has developed ground-breaking semantic search technology.

Both companies were awarded €100,000.

Seedcorn is the largest business competition in the country. Now in its seventh year, the competition was established by the cross-Border business development organisation InterTradeIreland as a way of stimulating start-up activity and commercial development.

Speaking at the awards ceremony, InterTradeIreland chief executive Liam Nellis said the quality of applications received was testament to the level of innovation and entrepreneurial excellence on the island.

He added that previous winners had raised more than €103 million in new equity funding since winning the competition.

A special award of €10,000 was also presented to Limerick company coClarity, which was named “best university spin-out or platform”.