Plio Surgical is the overall winner of the InterTradeIreland all-island Seedcorn Investor Readiness Competition.
The company has won a cash cash prize of €100,000 to invest in the business.
Plio Surgical also won the Best Early-Stage category on the night, while Cotter Agritech won Best New Start category, also taking home €50,000.
InterTradeIreland said the competition aims to improve the investor readiness of innovative new-start and early-stage businesses across the island.
As well as a prize fund of €300,000, participants in the competition benefit from feedback at all stages, access to business planning workshops, networking opportunities and access to angel investors, and mentorship support throughout the competition.
Plio Surgical is a spin-out of Trinity College Dublin, and develops a magnetic anastomosis device for gastrointestinal surgery.
The company is at pre-clinical stage and plans to undertake the clinical and regulatory activities required to enter the USA market first, followed by European markets.
"We are delighted that Plio Surgical were chosen as a winner in the Seedcorn competition," said Cristina Purtill, CEO of Plio Surgical.
"The standard was very high so we're over the moon," she said.
Ms Purtill said this was their second time applying.
"The first time we received really good feedback and we realised we needed to go back and think of the different aspects of our business plan and really crystalise our strategy more.
"The second time, we submitted a stronger business plan and it has paid off," she added.
Going forward, Ms Purtill said they are looking to raise a €3.6 million round to conduct their first clinical trials to bring their device to patients.
