{"id":97950,"date":"2019-05-30T10:32:59","date_gmt":"2019-05-30T14:32:59","guid":{"rendered":"https:\/\/www.ucf.edu\/news\/?p=97950"},"modified":"2019-05-30T10:35:03","modified_gmt":"2019-05-30T14:35:03","slug":"capacitech-energy-wins-trifecta-of-awards","status":"publish","type":"post","link":"https:\/\/www.ucf.edu\/news\/capacitech-energy-wins-trifecta-of-awards\/","title":{"rendered":"Tech Startup Powered by Â鶹ӳ»­´«Ã½ Alum and Professor Wins Trifecta of Awards"},"content":{"rendered":"

A tech startup, founded by a Â鶹ӳ»­´«Ã½ 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\u2019s continued growth and future aspirations.<\/p>\n

\u201cAward 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.\u201d says Joseph Sleppy \u201918<\/strong>, the company\u2019s CEO and a Â鶹ӳ»­´«Ã½ electrical engineering<\/a> graduate. \u201cWe 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.\u201d<\/p>\n

Capacitech won $15,000 in the 2019 Cade Museum Prize, which challenges inventors and entrepreneurs to demonstrate a creative approach to addressing real-world issues. The company was awarded $10,000 from Space Florida in the seed-funding category of the Florida Venture Forum\u2019s Florida Early Stage Capital Conference, one of the largest such gatherings in the state. Additionally, Capacitech received $1,000 at the two-day tech conference eMerge Americas!.<\/p>\n

Capacitech produces cable-based capacitors, a thin, wire-shaped device that stores energy. When installed into solar energy systems, the device works with the system\u2019s equipment to enhance performance, improve efficiency, and extend their operating life, which will reduce consumer costs. The concept behind cable-based capacitors was developed by Capacitech cofounder Jayan Thomas, a Â鶹ӳ»­´«Ã½ nanotechnology professor and a specialist in energy conversion and storage.<\/p>\n

\u201cSince our beginning, Capacitech has been focused on using our technology to make the world a better place.” \u2014\u00a0 Joseph Sleppy \u201918, Capacitech CEO<\/p><\/blockquote>\n

\u201cSince our beginning, Capacitech has been focused on using our technology to make the world a better place. When I envision the future, I see cleantech. Capacitech\u2019s cable-based capacitor is an enabling technology for cleantech and thus for the future, too.\u201d says Sleppy. \u201cRight now, Capacitech\u2019s focus is solely on complementing residential solar power systems. Looking ahead, I see us complementing utility scale solar projects, too, as well as using our cable-based capacitors to energize a new age of electric vehicles, information technology backup power systems, medical technologies like exoskeletons, and space exploration, among a wide range of other areas.\u201d<\/p>\n

Earlier this year, InnoEnergy \u2014 the innovation engine for sustainable energy across Europe \u2014 named Capacitech one of the top 30 startups in the world. The company won first place in the Florida Venture Forum\u2019s Collegiate Business Plan Competition and received a highly competitive NSF Grant last year. In 2016, Capacitech won the Â鶹ӳ»­´«Ã½ College of Business<\/a> annual Joust New Venture Competition<\/a>, a Shark Tank-like contest where Â鶹ӳ»­´«Ã½ students pitch judges on business concepts.<\/p>\n

Sleppy gives credit to a wide range of entrepreneurial-support resources at Â鶹ӳ»­´«Ã½ for lending a hand into Capacitech\u2019s growth and success. When he and Thomas established the company in 2016, they found assistance through the Office of Research and Commercialization\u2019s I-Corps Program<\/a>, the College of Business\u00a0Center for Entrepreneurial Leadership<\/a>, and the Business Incubation Program<\/a>. Â鶹ӳ»­´«Ã½ has placed an institutional emphasis on fostering relationships between entrepreneurs and innovators that will produce business partnerships like Capacitech.<\/p>\n

\u201cIt is clear that Â鶹ӳ»­´«Ã½ is not just a university. It is part of an innovation and entrepreneurial community within a major metropolitan area that has been very inviting to up-and-coming companies like Capacitech,\u201d Sleppy says. \u201cThanks to Florida\u2019s innovation ecosystem, we have another $26,000 of funding to apply towards building a Capacitech enabled future.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Named one of the top 30 startups in the world, Capacitech Energy aims to improve efficiency and enhance performance of solar energy systems.<\/strong><\/p>\n","protected":false},"author":98,"featured_media":97952,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"lazy_load_responsive_images_disabled":false,"footnotes":"","_links_to":"","_links_to_target":"","_wp_rev_ctl_limit":""},"categories":[15992,4],"tags":[658,973,8409,13662,202],"tu_author":[],"class_list":["post-97950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alumni","category-business","tag-business-incubation-program","tag-college-of-engineering-and-computer-science","tag-jayan-thomas","tag-joust-new-venture-competition","tag-alumni"],"yoast_head":"\nTech Startup Powered by Â鶹ӳ»­´«Ã½ Alum and Professor Wins Trifecta of Awards<\/title>\n<meta name=\"description\" content=\"Named one of the top 30 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