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Tekcapital surges as Guident wins start-up competition at Florida Atlantic University

The winners of the competition will join a year-long program that offers instruction, mentoring, networking, marketing and capital-raising existence among other benefits

Tekcapital PLC - Tekcapital’s Guident wins startup competition at Florida Atlantic University
Guident develops technology to enhance the utility of autonomous vehicles and delivery drones

Tekcapital PLC (LON:TEK) noted that its investee company, Guident Ltd, has won the Florida Atlantic University (FAU) Tech Runway Annual Tech Launch competition as one of the “most promising startups in South Florida”.

The IP investment firm said the competition, which included more than 200 contestants, provides start-ups with an opportunity to join a year-long program that offers winners “instruction, mentoring, networking, marketing, and capital-raising assistance, co-working space, events, intern support, and other vital programs”.

WATCH: Tekcapital PLC has some significant near-term milestones as its companies ramp-up commercialisation

Guident, which develops technology to enhance the utility, safety and enjoyment of autonomous vehicles and delivery drones, is seeking as its immediate objective to build and operate the first remote monitoring and control centre (RMCC) in Florida for ground-based delivery drones and autonomous vehicles.

The firm will also use the FAU incubator to accommodate its near-term growth plans and testing of its pilot RMCC on commercial delivery drones.

"We are delighted to see the significant progress of Guident Ltd and we are confident they have the right leadership, strategy and intellectual property to make a meaningful contribution to the safety of AV's and delivery drones", Tekcapital executive chairman Clifford Gross said in a statement.

Tekcapital's shares surged 11.6% to 15.1p in late-morning trading on Friday.

--Adds share price--

Quick facts: Tekcapital PLC

Price: 16.25 GBX

LSE:TEK
Market: LSE
Market Cap: £14.26 m
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