A Canadian AI company recently hit a milestone to engage with key decision-makers at leading sports organizations.
Fobi AI (TSXV:FOBI), a leading provider of AI-powered data analytics and wallet pass technology solutions, secured a coveted spot among 10 startups chosen for the 2024 Comcast NBCUniversal SportsTech Accelerator Program.
This program offers unparallelled opportunities for Fobi AI to engage with top sports and tech brands worldwide, driving innovation and propelling the company to new heights.
Many were called, few were chosen
The Vancouver-based company’s selection from a pool of more than 1,500 applicants across 52 countries underscores its prominence in the sports technology landscape.
As one of the chosen few, Fobi AI will have the chance to collaborate with renowned entities such as the Premier League, NBC Sports, Sky Sports, Comcast Spectacor, Golf, NASCAR and PGA TOUR. Additionally, participation from three U.S. Olympic sports organizations – U.S. Ski & Snowboard, USA Swimming and USA Cycling – further enhances the program’s prestige and potential impact.
The Comcast NBCUniversal SportsTech Accelerator Program offers participants unique access to decision-makers at leading sports brands and organizations, as well as within Comcast’s extensive network. This access provides invaluable insights into enhancing Fobi AI’s products and services, preparing the company for accelerated commercial success through strategic collaborations with program partners and within the broader sports industry.
“Being chosen out of 1,500 applicants is not just an honor; it’s an extraordinary opportunity for us to enhance our visibility and establish direct connections within the partner network,” Rob Anson, CEO of Fobi AI, said in a statement.
More about the Comcast NBCUniversal SportsTech Accelerator Program
Entrepreneurs selected for the program will work closely with SportsTech advisors in tailored programs focused on refining go-to-market strategy, commercial business alignment, and adaptive business modeling. With an emphasis on direct business outcomes, participants will be equipped with the tools and knowledge necessary for enterprise-ready scale.
Moreover, participants will benefit from a series of unique excursions and working retreats structured around partner events. These experiences offer founders an insider’s perspective, allowing them to gain a better understanding of partners’ operational needs and align their technology solutions accordingly.
The program kicks off on March 4 in Florida with a roadshow of partner events and immersion experiences designed to deepen customer discovery. Founders will have the opportunity to visit iconic venues such as Universal Studios Florida and NASCAR’s Daytona International Speedway, gaining insights into the operational intricacies of professional sporting events like the Arnold Palmer Invitational produced by PGA TOUR and NBC Sports’ Golf.
Mentorship is a cornerstone of the program, with industry leaders from Comcast NBCUniversal and strategic advisors providing guidance and expertise. Notable mentors include Will McIntosh, president of NBC Sports NEXT and Fandango; Lora Dennis, executive vice president of NBCUniversal Local; Jim Denney, chief product officer of Peacock; Alexandra Willis, director of digital media and audience development at the Premier League; Wyatt Hicks, NASCAR digital vice president; and Scott Gutterman, senior vice president of digital operations at the PGA TOUR, among others.
The program culminates at Rally Innovation on Aug. 27-28 in Indianapolis, where founders will showcase their tech innovations. This event will spotlight the scale-up traction achieved during the program, offering founders the opportunity to garner new business opportunities across the broader sports industry.
What this means for Fobi AI
For Fobi AI, participation in the Comcast NBCUniversal SportsTech Accelerator Program represents a solid opportunity to leverage expertise, forge valuable partnerships, and drive innovation in the sports technology landscape.
This program could help broaden the company’s reach in the technology industry, where it sells software as a service (SaaS), reselling, referring, and licensing its technology to licensors. The company enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences through wallet pass technology.
As the company navigates this transformative journey, investors can anticipate significant insights and potential growth opportunities stemming from its involvement in this prestigious program.
Fobi AI’s selection for the Comcast NBCUniversal SportsTech Accelerator Program underscores its commitment to innovation and collaboration within the sports technology sector.
Private placement upsized
The company also increased the size of its non-brokered LIFE private placement financing to aggregate of 34.9 million units at $0.07 per unit for aggregate gross proceeds of up to C$2.4 million, including the first tranche of its offering, which closed on Feb. 23.
Fobi completed the final closing with a second tranche on February 28. This tranche of the LIFE private placement financing amounts to an aggregate of 13 million units at $0.07 per unit for aggregate gross proceeds of up to C$924,849.
Due to investor demand and having reached the maximum eligible investment under LIFE rules, Fobi then completed a further non-brokered private placement offering of 7.6 million units at $0.07 for aggregate gross proceeds of C$532,250 on February 28.
With access to top sports and tech brands, Fobi AI is well-positioned to capitalize on new opportunities and drive sustained growth. For investors seeking exposure to the burgeoning sports technology market, Fobi AI represents a compelling investment opportunity poised for success in the years ahead.
To keep up with the latest from the company, visit fobi.ai.
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