A tech startup, founded by a UCF alumnus and a faculty member, has won $26,000 in competition prize money this month. These winnings, says the chief executive for Capacitech Energy, will go toward the company’s continued growth and future aspirations.
“Award funding buys a young company time. Time to negotiate a contract with better terms, time to further vet their plans, and time to accelerate their growth before taking dilutive capital.” says Joseph Sleppy ’18, the company’s CEO and a UCF electrical engineering graduate. “We would not be here without funding from sources, like competitions or grants. They bought us time to develop a product and prepare for our next steps. Non-dilutive funding supported the intellectual freedom and creative direction of Capacitech.” Read more here.