Pegasus Aeronautics is one of four winners of $25,000 from the Velocity Fund Challenge at the University of Waterloo.
They also picked up an extra $10,000 for the “top hardware” prize.
Pegasus was founded by four U-W engineers.
“Drones are the perfect way to remove people from dangerous tasks, and to help save companies money,” said Matt McRoberts, co-founder and CEO of Pegasus. “Our technology solves a need that has been hindering the industry from its inception by removing the limitations that batteries place on drone flight time. Winning the Velocity Fund Finals will allow us to execute our plan to accelerate our beta testing phase in order to bring our product to market sooner.”
Their award winning idea looks to use hybrid powertrain technology to keep drones in the air longer and make unmanned aerial vehicles viable for more uses.
The following three companies were also grand-prize winners of $25,000 and will receive free workspace at the Velocity Garage:
– Fiix is a platform to connect customers with affordable, skilled mechanics at their home or office.
– Landmine Boys built a specialized robot to defuse landmines without an explosion or human interaction, in order to eliminate damage to the environment and risk to operator safety. The recently won one of six major awards at the Norman Esch Capstone Design Awards.
– Okey is an app that logs you into your digital accounts when there is close proximity to your mobile device, to save time and improve security.
The winners of the Velocity $5K are:
– AVRO Life Science is developing novel approaches to conventional transdermal drug patches to provide better delivery mechanism of antihistamines.
-Gamelynx is a digital gaming platform that provides users with the ability to play in-person games with their friends, without the use of physical game boards or cards. Gamelynx received the people’s choice award by audience vote.
-Moocow Unicycles designs and sells unique, durable unicycle parts.