TIDMTEK
Tekcapital plc
22 May 2020
.
22 May 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Guident Ltd.
Tekcapital Plc (AIM: TEK), the UK intellectual property
investment group focused on creating marketplace value from
investing in university technology, is very pleased to announce
that Guident Ltd, ("Guident") has won the Florida Atlantic
University (FAU) Tech Runway(R) Annual tech Launch competition as
one of the most promising startups in South Florida .
The competition provides the most promising startups and
talented entrepreneurs in South Florida with an opportunity to join
a year-long program that offers competition winners "best-in-class"
instruction, mentoring, networking, marketing, and capital-raising
assistance, co-working space, events, intern support, and other
vital programs.
A panel of judges, including successful entrepreneurs,
technology investors, entrepreneurship professors, economic
development professionals, philanthropists, and commercial bankers
selected Guident as the winner of the competition. The judges were
convinced that the company seeking to create a Remote Monitoring
and Control Center, ("RMCC") in Florida for autonomous vehicles
applying artificial intelligence, and their first use-case for
'zero-touch' ground-based delivery of groceries and medicines would
be the right choice to create significant value in South Florida
and Nationwide.
"The 2020 Florida Atlantic University Tech Runway Launch
Competition was a huge success on all levels," said Rhys L.
Williams, managing director of FAU Tech Runway(R). "Entrepreneurs
submitted a record number of applications and out of more than 200
contestants, Guident, a company that develops software solutions
for the autonomous vehicle market with their first use-case of an
advanced artificial intelligent-assisted, remote tele-monitoring
and control center came out on top of the competition. We can't
wait to work with this new group of entrepreneurs over the next
year."
Guident's immediate objective is to use its proprietary IP to
build and operate the first RMCC in the state of Florida for
ground-based delivery drones and autonomous vehicles. Guident plans
to use the FAU incubator to accommodate its near-term growth plans
and testing of its pilot RMCC on commercial delivery drones.
The Market
According to Allied Market Research (") the autonomous vehicle
("AV") market is expected to reach $556 billion by 2026 with a CAGR
of 39%.(1) Contactless or "touch-free" delivery is in high demand
due to the COVID 19 pandemic.(2,3) Guident believes this increased
demand will accelerate the roll-out of land-based delivery drones
for food and medicines to improve their availability and reduce the
costs of these deliveries.
Harald Braun, Guident's Chairman and CEO said, "The selection
process was extremely challenging, given the very large number of
strong entries with compelling business solutions and we are very
pleased that Guident was selected as the winner of the competition.
Our next step is to take full advantage of the brilliant program
the FAU TechRunway incubator is providing to young companies. "
Dr Clifford Gross, Executive Chairman at Tekcapital, commented:
"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 owns 100% of the share capital of Guident Ltd.
About Guident, Ltd.
Guident commercializes new IP & technology to enhance the
utility, safety, and enjoyment of autonomous vehicles and delivery
drones. Using its proprietary IP, Guident is developing artificial
intelligent Apps that allow users of AV's to dispatch, monitor and
control their vehicles remotely when necessary. To learn more
please visit www.guident.co. To learn more please visit
www.guident.co .
About FAU Tech Runway(R)
FAU Tech Runway(R) is a public-private partnership formed to
incubate and accelerate early-stage technology-based companies,
under the purview of FAU's Division of Research. It has provided
financial support, entrepreneurial education, free workspace,
investor introductions, expert mentoring, marketing assistance,
student interns, and a close-knit entrepreneurial community for 93
early-stage companies since its launch. In five years, 587 jobs and
199 internships have been created; 96 FAU students have been
employed; $95 million in capital has been raised from all sources,
and more than $109 million in revenue has been earned. For more
information on FAU Tech Runway(R) visit www.techrunway.fau.edu
.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Abigail Wayne (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Guident or Tekcapital that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Guident' and/or
Tekcapital's management. Please note that these are subject to a
number of risks, uncertainties and factors, including, but not
limited to those described in various disclosures. Should one or
more of these risks or uncertainties materialise, or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of Guident or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
Guident nor Tekcapital intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
References
(1) https://www.alliedmarketresearch.com/autonomous-vehicle-market
(2)
https://www.cnet.com/how-to/how-to-safely-order-food-delivery-takeout-and-groceries-during-coronavirus-quarantines/
(3)
https://techcrunch.com/2020/04/01/uber-eats-beefs-up-its-grocery-delivery-offer-as-covid-19-lockdowns-continue/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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