On June 3rd, UCF electrical engineering student and entrepreneur, Joe Sleppy, won 2nd Place at the MegaWatt Ventures Cleantech Competition in Orlando, FL with his Capacitech Energy, LLC. According to the official MegaWatt Ventures Eventbrite page,
MegaWatt Ventures is an annual clean technology business plan competition sponsored by the U.S. Department of Energy’s Cleantech University Prize (Cleantech UP). Ten promising cleantech companies from throughout the U.S. have been selected as finalists to compete for $50,000 in front of a panel of renowned venture capitalists, entrepreneurs, renewable energy veterans, and Fortune 1000 company technology scouts. The top three teams will secure a spot to compete in the national Cleantech UP competition hosted by Spark Clean Energy in Denver, Colorado on June 21-23, 2016.
Capacitech Energy is eligible for such competitions given the nature of its product: a small and lightweight Cable Based Super Capacitor (CSC) that can simultaneously store and transport electrical energy. The CSC can be used to increase the performance of batteries which will be transformative for the defense, automotive, and renewable energy industries! Businesses who qualify for the national Cleantech UP competition, such as Capacitech Energy, are given training sessions and a tour of Spark Clean Energy’s facilities while in Denver. The competitions consist of each team presenting their business for 10 minutes followed by 10 minutes of Q&A with the judges.
Sleppy says that he is excited for the upcoming finals competition and is “going mainly for the exposure and experience.” He continued, “Networking and making connections with those in the audience is most important thing for me at this stage.”
A video of Sleppy’s pitch from MegaWatt Ventures can be viewed here..