San Antonio-based Pree Corp. is developing multiple technologies, including one that would pluck wireless transmissions from the air and convert the energy to power mobile devices such as smartphones, tablets and MP3 players.
Rudy De La Garza, the company’s CEO, said they are trying to raise about $437,000 from accredited investors. When Pree goes public later this year, he said he expects to raise about $2 million.
Pree, which stands for Providing Reliable Energy Everywhere, started as an idea for a business and engineering design class at UTSA. That’s when business students Matthew Jackson, 23, and Amanda De Kay, 30, met with Matthew Ellison, 23, the engineering student who had the idea for the wireless technology. The team entered the idea in an annual competition at the UTSA Center for Innovation Technology and Entrepreneurship and won second place.
With help from the university, the group has utilized lab space to work on their devices and had help with a patent application, which was filed last September. The company was launched after they partnered with De La Garza, who runs the Idea Finishing School, an organization that helps early-stage companies find investors and take their ideas to market.
Neat. Just imagine what we could achieve if we lived in a state that valued academic research.