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Tekcapital shares rise as it teams up with Peru tech accelerator

"We are very pleased to announce the formation of a strategic alliance with Emprende UP to provide technology transfer services with them throughout Perú"

start-ups
It plans to provide commercialisation and investment services to Emprende start-ups

Tekcapital PLC (LON:TEK) shares rose on Tuesday after the group unveiled a new strategic partnership with a technology incubator and accelerator programme in Peru.

The AIM-quoted firm is teaming up with Emprende UP, which is part of Universidad del Pacífico (UP), Peru’s leading business school.

READ: Tekcapital jumps as self-driving car partner launches commercial website

Emprende has been working to fund and assist a large number of start-ups in Peru, Tekcapital noted.

"We are very pleased to announce the formation of a strategic alliance with Emprende UP to provide technology transfer services with them throughout Perú," said Dr Clifford Gross, Tekcapital executive chairman.

“The directors of Tekcapital believe Perú is a rapidly growing market for the company's technology investment and commercialisation services.”

Javier Salinas, Emprende UP director, added: "Our strategic alliance with Tekcapital will change the intellectual property landscape for universities and entrepreneurs in Peru."

In late morning trading, Tekcapital shares were 2% higher at 6.38p.

 -- Adds share price -- 

Quick facts: Tekcapital PLC

Price: 6.38 GBX

LSE:TEK
Market: LSE
Market Cap: £4.07 m
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