connect 2019 • 33 “Coindrum was pitched to an audience for the very first time at The Ireland Funds Business Plan Competition. The win was a key validation milestone in the company’s development. One of the judges, Declan Ryan (formerly of Ryanair), became our founding investor shortly after the event. That, combined with the €10,000 prize, allowed me to start working full time on the business the day I graduated.” Coindrum provides airport self-service units that turn leftover coins into duty free vouchers worth 110% of deposits. This solves the foreign coin inconvenience for travellers and increases the percentage of people that shop in airports. Passengers outspend their vouchers on average by a factor of ten, creating an enormous category growth opportunity. For example, a €5 deposit will yield a €5.50 voucher, which then leads to a €55 sale at the register. All major duty-free players have launched installations across 10 air- ports and 7 countries. Coindrum has now turned its attention to the high street with successful launches of its innovation in partnership with grocery retailers as well as foreign exchange companies. LUKAS DECKER 2012 WINNER WITH COINDRUM UPDATES FROM BUSINESS PLAN COMPETITION ALUMNI Where Are They Now?