MANCHESTER, ENGLAND - SEPTEMBER 04: Thomas Mathew, Zoomph Chief Product Officer talks during day 1 ... [+]
GETTY Since launching the Comcast NBCUniversal SportsTech Accelerator in 2021, the giant telecommunications and media company has cast a wide net in its search for startups that it could invest in, benefit from financially and operationally and help develop.
This year’s class of startups, announced on Thursday, shows how the program has grown. Eight of the ten companies selected to participate are based outside the U.S.: four in Canada, two in the United Kingdom and one apiece in Brazil and Switzerland. Comcast received applications from more than 1,500 companies from 52 countries, up from about 930 companies from 40 countries last year.
Jenna Kurath, vice president of startup partnerships and head of the accelerator, credits the increased interest, especially internationally, to the success of companies that have participated in previous SportsTech accelerators. She also mentioned the presence and influence of the Premier League, the major English soccer league that came on last year as a partner of the program.
The other partners in the program are NBC Sports; Sky Sports; NBC Sports Group’s Golf division (including the Golf Channel); NBC Sports Next; Comcast Spectacor (owner of the Philadelphia Flyers and Wells Fargo Center in Philadelphia); PGA Tour; WWE; NASCAR; U.S. Ski & Snowboard; USA Cycling; and USA Swimming. Those entities help determine which startups are accepted for the program, and their executives serve as mentors and advisors to the companies. They are also able to invest in or strike partnership deals with companies that are developing technology that could be suitable for their businesses.
Each of the 10 startups receives a total of $50,000 from Comcast and Boomtown, a company that works with and identifies startups and operates the accelerator. In exchange, Comcast and Boomtown receive an equity stake in the startups.
“We have some skin in the game and their success,” Kurath said. “I do think it helps keep us accountable.”
Unlike other accelerators that target companies that are still in the idea stage and just have a concept, the startups in this year’s Comcast program have all developed the technology and have a product out on the market.
Zoomph Inc., for instance, is a Reston, Va., data analytics company that last year raised a Series A funding round and already worked with Comcast. And StellarAlgo is a Calgary, Canada-based data analytics company that last year struck a deal with the NBA that saw the league take an equity stake in the startup. The deal allowed all 30 NBA franchises access to StellarAlgo’s platform.
Forbes Business
Aquimo Inc., which is based in Mesa, Arizona and develops mobile sports games, is the other U.S.-based company selected for the accelerator. The other Canadian companies are Fobi AI, an artificial intelligence/data company; Mobii Systems, a video streaming technology firm; and Plantiga, a company that has developed sensors that are placed in the insoles of sneakers to measure athlete’s work load and performance.
The four remaining startups chosen are Dizplai, a United Kingdom company that offers live graphics for broadcasters and sports organizations; Kymira, a United Kingdom company that uses infrared technology in sportswear; Mantis AI, a Brazil-based firm that uses artificial intelligence to organize raw footage and data; and Zatap, a Switzerland-based firm that uses blockchain technology to allow people to authenticate and trade products via their smartphones.
The Comcast accelerator begins on March 4 in Florida, where during that week the startups’ founders will gain access to Universal Studio, Daytona International Speedway and the Arnold Palmer Invitational PGA Tour event. They will learn about how those venues and events operate and incorporate technology and hear from and interact with NBC and league executives.
Over the next six months, the startups will continue working on their products and business strategies under the guidance of mentors from some of the partner organizations. The program concludes in Indianapolis on Aug. 27-28 at the Rally startup conference, where the founders will present what they have learned and how their technologies have evolved and can help companies or leagues run more efficiently, better engage with fans and consumers or generate additional revenue.
“(The program) is less anchored and focused on, ‘You're going to come out of this program and be able to raise so much money,’” Kurath said. “We're really coming at it from a standpoint of you have an opportunity to earn a commercial deal. That's revenue coming in that helps you build a sustainable business. You're really finding true, sustainable, product-market fit. That de-risks our initial investment. Our north star is really that commercial deal, which is much more aligned to them building a sustainable business that can thrive over time.”