For teams and leagues, finding a match made in heaven with a startup or entrepreneur is no easy task. By the same token, it can be challenging for a startup to find an organization with a need that they can satisfy. The Olympia Zone Innovation Center, opening in a few weeks in Tel Aviv, will serve as a speed dating site of sorts for the two sides to connect.
The idea for the center stemmed from a realization that Eyal Baumel, a partner at Olympia Zone, had about a year and a half ago. “I just realized that both sides (startups and teams) have similar needs but have issues connecting.”
Baumel, along with CEO and founding partner Guy Primor, have a goal of making Olympia Zone a hub where the two sides have a place to collaborate.
Olympia Zone already has connections with high-profile European soccer teams such as Real Madrid, Tottenham Hotspur F.C. and Bayern Munich, just to name a few. In the U.S. it has good relationships with the NBA (and teams like the Cleveland Cavaliers, Los Angeles Lakers and Los Angeles Clippers), NFL and other companies that work with those leagues.
“We want to have this edge where if we see a company or entrepreneur who comes to us with an idea or product we’re very close to the market,” Baumel said. “We want to have the option to call any one of these teams or companies and give them insights about these products.”
On a monthly basis, the Olympia Zone plans to host a delegation from overseas to meet the companies that are in the center. Those companies might pitch things to the delegation or demonstrate their products in the science lab that’s part of the center.
They also plan on doing a panel or hosting a fireside chat with the delegations. This way even if a company doesn’t have a relevant product they can understand what an organization like the NBA or NFL thinks about innovation.
Teams have also approached Olympia Zone with specific problems that need solving. Baumel explained, saying, “If the athletic director of Manchester United wanted to know how tired their players are during a game, they can give us a call and say ‘do you guys know a company that can measure that?’ or ‘can you guys develop that?’”
Based on a need like this that they see from the market, Olympia Zone can make use of a startup studio that’s part of the innovation center. This is a place where they can find an entrepreneur and work with them to create a new product based on the demand.
Said Baumel, “The first thing for us is just to provide as much value as possible to the teams, leagues, media companies, anyone on the business side of sports and to the entrepreneurs and startups.”
