Comcast NBCUniversal will select 10 sports-tech startups to join a new accelerator that will launch outside Atlanta this summer, hoping to supercharge innovation in eight different areas of sports business. Each company will receive a $50,000 equity investment and get first-hand strategic and technical advice, along with free office space for three months. NASCAR, U.S. Ski & Snowboarding and USA Swimming have signed on as partners. Colorado-based Boomtown Accelerators will actually operate the program, which will be based at Comcast’s existing accelerator programs at The Battery Atlanta. The broad areas of focus include: sports media and entertainment; fan/player engagement; athlete performance; team/coach success; venue and event innovation; fantasy sports and betting, esports and sports business.
Applications are available at comcastsportstech.com and are due May 15. The inaugural class begins in August. A commercial product is not necessary to be considered, and the terms contemplate a very early-stage company -- the $50,000 investment will buy a minimum of 6% equity in the startups, working out to valuation of less than $850,000. Comcast and Boomtown will be the actual equity holders. Along with the equity funding, $1.7M in other support will be available to the participating companies. The sports properties won’t hold equity in the accelerator participants, but their leaders think proximity to the program and face-to-face collaboration with the startups will bring tech solutions to their sports more quickly.
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Both NASCAR and the Olympic sports NGBs have sophisticated technical challenges but have limited funds for high-end research & development. “We’re really salivating and really interested in having some two-way conversations with some of these really bright folks about some of the innovation needs we need but haven’t been able to pursue,” said USA Swimming CCO Shana Ferguson.
