SportsTech Monthly Roundup 16: Tokyo Olympics, Peloton, Netflix, and Application Deadline

The purest and most beautiful thing about sports is that the game is constantly evolving. In the blink of an eye, a team can come from behind with a shot from half-court, a Hail Mary, a hole-in-one…

Sports tech is pretty similar, too. During our accelerator program, we’ve been introduced to teams working on brilliant products who are quite literally changing the way athletes and teams compete.

Founders see an opportunity and a pain-point in the world of sports—often forged in their own personal experiences, and they create something to solve it. Much of what we see in professional sports competition is the exciting stuff that keeps us cheering, but the stories of what is happening long before those games begin is the stuff of sports legend.

Got An Idea? Send ‘Em Our Way, Apply Now! 

If you or someone in your community is actively working on something that is changing the sports landscape, we want to hear from you.

Here are a few quick tips on how to apply to our accelerator here! We accept applications until August 15.

• You can’t change the game if you don’t apply, so if you think you’re building something that will help elevate sports then share them with us. Hitting the submit button on your application is one step closer to making that dream a reality!
• Take your time and tell us your story. One of the most important things you can do is craft your personal story—tell us the challenges, share how you overcame the challenges, and how you got to where you’re at today. All founders should participate in this exercise including the video submission. But, keep in mind that the quality of the narrative and conversation is way more important than video quality—so don’t worry about that. We want to get to know your team and see how your passions helped create something.

We cannot wait to read your applications and learn more about what you’re working on!

Now, onto the stories we’re reading this week, including a special look at how some of our partners are involved in the Olympic Games from Tokyo.

Partners Share Olympic Spotlight 

• Meet the 11 teenage swimmers of the USA Swimming Team who will be competing in Tokyo.
• For years, members of the USA Cycling Team have worked hard for these games in Tokyo. Meet the team across five disciplines including BMX freestyle, BMX racing, mountain bike, road, and track.

SportsTech Partners in the News 

• NASCAR partnership with Hyperice pushes driver A.J. Allmendinger to the next level. Hyperice is a pioneering leader in helping athletes recover with a variety of percussion, vibration, and thermal tech. A.J. and Kaulig Racing began their partnership just before the last Daytona 500.
• The NASCAR Racing 21 game is officially set to make its debut and fans are excited.
• Now that the Tokyo Games are underway, Jim Miller provides a window inside the selection process for Team USA and gives his analysis of the athletes competing in Tokyo, including Chloé Dygert, Lawson Cradock, Brandon McNulty, and Amber Neben. And later he talks about what USA Cycling is doing to support the next generation of racers. Jim also provides insight into what sets winners apart from other elite athletes, and what he’s looking for when he takes on coaching a new athlete.
• Addaday partners with U.S. Ski & Snowboard to help with athlete recovery.
• NBC and GOLF Channel collaborate to help show Olympic athlete’s families’ reactions at home during the Tokyo Olympics with watch parties and interactive, live storytelling. This has complemented the sports coverage with compelling athlete stories that are giving fans back at home entirely new access to America’s best athletes.

Alumni in the News

• Congrats to the Sonar Company on raising $1 million, including investment from Philadelphia 76ers Coach, Doc Rivers.
• Dallas Innovates spent some time talking sports, tech, and innovation with Kelly Pracht of nVenue.
• Speaking of nVenue, Kelly also wrote an interesting article about the anatomy of a home run, and how their product is helping make sports super fun for kids and adults.

Sports Tech Stories We’re Reading 

• American sports betting market will grow by $28 billion by 2025.
  • Eleven states have already hit the $1 billion mark.
  • Nielsen reported that the online gambling industry, primarily sports betting, spent $154 million on local TV advertisements in the first quarter of 2021.
• Netflix is jumping into the video game arena. This is part of a larger strategy the company hopes to use gaming as a way to extend their intellectual property, harvest user data, and to extend games into Netflix series and films.
• Music is one of the main drivers keeping Peloton moving forward, and now signs indicate they pay out their musicians better than Spotify and Apple.
• Speaking of Peloton, they are planning to spin out their own video game where users will control a wheel through a bike-able course along with the ability to control their own music.
• Though he’s not eligible for the NBA Draft until 2024, high school hoops guard Mike Williams has become the first preps star to sign with major representation to pursue name, image, and likeness endorsements—partially thanks in part to his social media following of more than 5 million people.