Regardless of the time period or what conflicts the world endured, sports has always prevailed as a universal unifier. 

The numbers glaring across the scoreboards, ecstatic fans in a warm embrace, the blazing horns in the background. This visual encompasses what comes to mind when we think of the term, sports.

As one of the most coveted industries in the world, sports organizations have to regularly adapt to meet the growing demands of the increasingly technology-savvy fanbase. The past five years have witnessed a spike in venture capital investments in sports tech.

Technology can capture historical moments, such as the milliseconds before and after an athlete scores the championship goal. Experiential data like scoring a goal or the pompous VIP amenities are hard to describe with just words and photos.

Meanwhile, the income of a sports league, such as the New York Yankees, is dependent on three things: sponsorships, attendance, and merchandise. Sponsorships in sports teams accounted for 70% of the $15B total spent on sponsorships in 2016. However, did you know that up until the last five years, many of the biggest brands in sports were still pitching seven-figure deals within the confines of PowerPoint?

One technology has changed the whole game – revolutionizing how deals are being done in the boardrooms.

Its name: Digideck by Sportsdigita .

The founder of Sportsdigita is a powerful leader with several years of experience in both the financial industry and in professional sports leagues.

Angelina Lawton, the founder, and CEO of Sportsdigita got her vision for what is now known as Digideck during her time with the NHL’s Tampa Bay Lightning.

“I saw these huge corporate brands coming into meetings and all we had were linear PowerPoints to try and impress them. I knew there had to be a better way.”

Today, Sportsdigita is the solution trusted by over 400 sports teams and enterprise brands around the globe. It combines personalization features, real-time analytics, and immersive technology to create beautiful and personalized presentations for any company.

Illustrating the numbers in a creative way

Visualizing data can help tremendously in how we understand it. Interactive tools drive engagement and increase value for the creator in the long run. Propping up your hard-earned statistics in a way that can capture a buyer’s attention is crucial, especially in a market as dynamic as sports. “In the financial industry, it was hard to bring the numbers, charts, and graphs to life,” Angelina comments. However, when I got into the NHL, the environment drastically changed to one that was dynamic and from there I saw a natural progression of how technology could be utilized to enhance the experience.”

Companies can easily plug their facts and figures into Digideck which can produce interactive graphs and real-time analytics. Digideck allows sellers to communicate directly with buyers at their convenience, which leads to better engagement and greater potential for more booked meetings.

Creating immersive experiences for maximum revenue

Research has shown that when people have better experiences with a product, they are more likely to spend more. With the dawn of the metaverse, many brands are pivoting towards using AR/VR technologies to boost their product interactions with customers.

Digideck allows companies to showcase their offerings, taking the buyer on an immersive journey through video technology and elegant interactive cursor buttons. Imagine getting a 360° view of what the President’s Suite looks like in your local sports arena, instead of just a flat photo. The experience sells itself.

Seamless distribution for efficiency 

With traditional presentations, you have to add a number of links that take you to other pages. The amount of times the user has to oscillate between the presentation and other weblinks is distracting and subtracts from the overall experience.

With Digideck, everything is integrated into the deck which removes friction and increases attention span. The deck can be distributed to every stakeholder in one link and can be viewed at the buyer’s convenience. This signals respect for people’s time— not strapping them down to a 30-minute pitch meeting for something they might have no interest in. Digideck empowers the buyer to make their own decisions by presenting the data in an appealing and easy-to-understand manner.

Conclusion

As technology and the world evolves, sports has to evolve with it. While much of the focus recently has been centered around the fan experience and athletic improvement, a crucial element that has been quietly revolutionalized is the end-to-end sales process. The adage goes, “People won’t remember what you’ve said, but they’ll always remember how you made them feel.” Presentation is simply an area that can’t be missed, and stellar technologies like Digideck can help companies build an elusive and irresistible brand that sells.

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LEAP is a sports discovery and endorsement platform that uses blockchain and Web3 to power its mobile app that helps to connect youth talent with talent seekers and fans. LEAP’s decentralized digital arena democratizes sports and grants all talents equal growth opportunities, motivating young athletes to develop their game and compete online in the “Tournament of Meta-Legends,” bringing their real-life skills to the digital playground.

It’s a noble cause. Across the world, children that grow up in impoverished communities dream of turning their passion for sports into an enriching professional career. In the U.S., home to many of the most prominent sports associations in the world and a high-class college and youth sports infrastructure, only one out of 16,000 high school athletes turns pro.

In regions like Latin America and Africa, where sports are just as popular, but resources are more limited, the chances are even lower. However, many athletes strive for a secondary route to stardom. LEAP uses decentralized economic models to make it possible for anyone engaged in real-life sports activities to play, grow, and earn.

With LEAP, young athletes showcase their skill-sets in short-form videos uploaded to the platform. By specifically working with young athletes from impoverished and isolated communities, LEAP brings together a digital community of sports talent, talent seekers, and fans to help the athletes gain recognition and get rewarded based on their skill levels. The app features a customized video editor – LEAP Studio – with filters, stickers, and add-ons to help talents better highlight their skills.  

Using a play-to-earn model, LEAP encourages athletes to improve their skills through competitions between its users. These one-on-one battles, known as DAREs, showcase individual talents through performing short-form videos highlighting specific skills. Think Tik Tok for talent, with a payoff for those that can outshine their rival. The LEAP Seekers community – consisting of fans, agents, hall of fame athletes, clubs and academies, brands, and journalists – vote for whoever they feel performed the skill best.

As the budding stars compete in DAREs, the higher their rating will be, resulting in the minting of unique player-card NFTs whose value, worth, and score will determine rarity. These NFTs can be bought and sold, allowing these young athletes to earn from their hard work while also serving as a potential investment if they develop into a star.

The platform rewards its users based on their accomplishments with LEAP’s in-game tokens. Users receive an allowance of in-game tokens backed by real crypto-assets and use them in the LEAP Meta-Market to purchase real-world products and services, further improving their athletic development.

“We are building an important platform that will enable young athletes to receive the visibility and rewards they deserve based on their talent level,” Omri Lachman, CEO and co-founder at LEAP, said. “For too long, athletes from certain backgrounds or geographic regions have seen ‘going pro’ as the only solution to better their lives, and we are here to show them that going pro is not the only win. We are bridging the traditional sports industry with emerging talents and fans to unlock a brand new universe where everyone has an equal shot at the title by bringing their physical skills into the digital space.”

It’s an intriguing idea and one that leverages Web3 and NFT technologies to help those athletes – that would typically be overlooked – grow into the next generation of superstars, get the backing they deserve, earn as they play, and be noticed by those that can propel their sports careers to the moon.

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Talanton, an American Venture Capital firm, led the funding round which also counted with participation from several undisclosed Kenyan angel impact investors. The funding will allow Enda to expand its global brand by boosting its product development and distribution efforts. Iris Wen, Partner at Talanton, referred to the firm’s participation by stating:

“We are thrilled about this investment,” said Iris Wen, a partner at Talanton. Enda is perfectly aligned with our mission of investing in companies that create high-quality jobs, especially in places where these jobs have the most impact by creating opportunity and reducing poverty. That they’re able to do this while satisfying customers around the world means they’re poised for growth and making a real difference in the world.”

Despite being known for being the home of some of the best runners in the world, including marathon record-holder Eliud Kipchoge, Kenya doesn’t have a running shoe brand to represent it on the global stage. Enda was founded with the mission to become a top high-performance running shoe brand that helps athletes around the world to improve their running consistently. Enda co-founder and CEO Navalayo Osembo, said in this regard:

“We’ve been working hard to fulfill orders as thousands of people around the world are discovering our shoes. It is an exciting time for our company. This is our moment to invest in further growth and help even more people “Run Kenyan” in 2022.”

According to data aggregated by RunRepeat, there was an increase of 65% in running and jogging activities during 2020 as people around the world become increasingly interested in improving their health by exercising frequently. Enda believes that running can be more than just a means to improve physical and mental health but also increase fairness, justice, and equality around the world, a mission that drives its “Run Kenyan” slogan.

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The round was led by Sands Capital with participation from firms like Defy Partners, Golden Nugget Online Gaming, Rush Street Interactive, TEGNA, Bettor Capital, Velo Capital, Alpha Bridge Ventures, and Heatwave Partners. Influential angel investors like New England Patriots owner Robert Kraft, former MGM Resorts International CEO Jim Murren, and former NBA SVP Chris Pantoya also contributed. Scott Frederick, Partner at Sands Capital, said about the round:

“Boom is in an enviable position as the premier provider of technology and games in an industry that is both rapidly expanding and increasingly in need of product differentiation,” said Scott Frederick, partner at Sands Capital. “Boom offers the entire continuum, from mass-casual free-to-play gaming products to fantasy sports to online casino and sports betting games. They are the go-to partner for any company looking to maximize their opportunity in this category.”

Boom Entertainment’s catalog of products includes the white-labeled NBC Sports Predictor, Tim Hortons NHL Hockey Challenge, PlayBarstool, NASCAR Jackpot Races, and other popular platforms. By offering scalable, fast, and reliable products, the startup has become a leading player in the real-money casino and sports betting industry. Stephen A. Murphy, co-founder and CEO of Boom Entertainment, said in this regard:

“Sports fans and casino players are craving something more – new products and new games that will transform how they consume sports and how they are entertained. With this capital infusion, we will redefine what real-money gaming looks like by introducing new ways to bet on sports and new experiences for players.”

Having partnered with several media, retail, sportsbook, and casino companies, as well as a sports league, Boom Entertainment has capitalized on the increasing popularity of digital entertainment platforms. This success has been increased by the ongoing Covid19 pandemic, which has prevented millions of people from using more traditional establishments.

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The accelerator is the result of a partnership between Berlin-based leAD Sports & Health Tech Partners and Lake Nona, a living lab community in Orlando. The program received applications from 495 startups looking to participate in it but ultimately, only 1% of them were accepted to the program. Christoph Sonnen, leAD Co-Founder & CEO, Partner at ADvantage Sports Tech Fund, referred to the selection by stating:

“What we have found for this cohort is nothing short of amazing! From solutions that aggregate your data and make you a better athlete to wearables that can truly save lives, each company has the potential to truly disrupt their market. I am so grateful that we can support them as they develop, and I’m very excited for the world of opportunities that awaits them in Lake Nona. This Demo Day will certainly be one not to miss.”

Of the startups chosen to participate, 4 are based in the United States, 1 in Colombia, and 1 in Scotland. The program already started back in mid-August of this year with a virtual phase and is set to transition to an on-site in Lake Nona later in September, which will allow participants to enjoy all of the benefits the community has to offer.

The startups participating in the latest installation of the program are Kutai (Colombia) which uses AI to help users improve their eating habits, OxiWear (US) which develops medical-grade oxygen monitoring accessories, Point (US) which develops an aggregator of biometric health data, Suji (Scotland) which offers smart compression tools for athletes, indiFIT (US) a SaaS platform for fitness entrepreneurs, and Flumina (US) which builds lights for improved healing and recovery time.

The six-month training program will allow the teams to learn from experts in different areas like growth marketing, sales, and pitching to boost the growth of their startups and improve their chances of success, while also accessing a network of high-class sport business veterans and top tier partners.

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The round brings the total funding raised by the startup since being founded in January of 2021 to $3.2 million. The new funding will be used to expand the startup’s platform to satisfy the increasing demand for solutions that facilitate sponsorships. MarketPryce CEO Jason Bergman referred to the round by stating:

“We’re thankful that there was lots of interest in this round as investors were really intrigued by this new NIL market. We believe there are massive network effects for this new market, which should lead to a winner-take-most dynamic, and we’re raising $3M to make sure we are the company who comes out on top.”

Back in July of 2021, the National Collegiate Athletic Association (NCAA) allowed more than 500k student-athletes to enter partnerships and accept deals to profit from their name, image, and reputation, something they had not been able to do in the past. This decision by the organization highlighted the difficulty young athletes have when it comes to networking, a vacuum that MarketPryce seeks to fill.

Since being launched, MarketPryce has already seen a great influx of new users, with hundreds of student-athletes joining the platform. According to the startup, 93% of student-athletes who have joined the platform have already been connected with at least 1 brand, with more than 50% of these athletes being female. Bergam also referred to the platform’s potential by stating:

“The potential for growth in this space is groundbreaking. In just seven months of operation, we’ve already established ourselves as a major player in the athlete marketing world and we know we’re still just getting started.”

The sports marketplace startup is now focused on maintaining its position as a leader in the industry, growing its technology, and multiplying the number of connections it has facilitated, bringing new opportunities to a demographic that has been unable to profit from their hard work in the past.

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According to his LinkedIn profile, Hong is an independent director of SPAC, having served as a business consultant since 2019, including Nascar. In the past, Hong held several positions at Turner Sports and joined with the NBA, MLB, March Madness, PGA Tour and UEFA Champions League.

In addition, he also has his own SPAC called Newbury Street which is estimated to go public at $120 million in its IPO this March. This may be the start of bigger things to come.

The SPAC’s two investors and executives are Paige Craig – an investor in Lyft and Omaze, and Felix Yun Pun Wong – the principal of a financial consulting firm. These moves are in line with the industry, and will likely create gains.

This corporation’s target areas include technology, media and telecommunications, sports, non-gambling games and entertainment. It also has filed a $90 million IPO with the Securities & Exchange Commission.

Inception thinks that sports analytics will be one of the greatest alternative revenue streams for sports organizations. Data-driven platforms and artificial intelligence will be an essential part in understanding the consumers’ behavior in the future.

After almost coming to a standstill this early year, the market for this investment seems to be reviving. According to Sportico Sports SPAC Tracker, there are 144 active SPACs concentrated on finding sports businesses or involving a sports executive.

Besides, some typical names registering for the IPO last week include Williams Rowland, Harry Sloan và Jeff Sagansky, Dhani Jones, tennis player Grady Burnett and previous New York Jets president Neil Glat.

These vehicles are likely to become more popular as smaller businesses seek funding from public markets.

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When I started out 25 years ago, we had 52 teams now we have 11,000. In 2019, we had 40 full-time employees and more than 350 part-time employees and volunteers.

Kristi Herold, founder of Toronto Sport & Social Club

Like most founders, 2020 dealt an unexpected blow. “How do you keep going when the government shuts down your business? The bills don’t stop coming in; you still have to pay salaries, insurance, vehicle fees, facility rentals but you don’t have an ability to operate,” opined Herold. That’s a question that millions of business owners and executives have been forced to consider over the past year.

Herold is smart, resilient and determined. Initially, the Ontario government offered small subsidies as a life-line to businesses. However, those subsidies were unexpectedly changed – without clear announcements stating how those changes would impact business owners – and then Herold found herself in a difficult position. “It was the worst day of my career,” mourned Herold, “Having to lay off people, good people, people that have been loyal and been a part of your team forever is the worst thing that I’ve ever had to do.”

So she pivoted, finding a way to expand her business offering while staying true to her mission of connecting people through play. She formed JAM, taking the team sports and events online, creating engaging and entertaining events designed to unite colleagues, friends and families in need of deeper connection in the wake of the pandemic. Scavenger hunts and other virtual experiences are enriched through the participation of unemployed comedians and actors who now have a new opportunity for work.

Herold also did something that she was unaccustomed to doing – she shared her vulnerable side and asked for help. The response she received was overwhelming. Between DMs and replies to her posts on social media, people in her network stepped up to interview those she had laid off and to broker introductions to employers and family members to sign up for JAM online events.

For women specifically, it’s important to own your voice. Don’t be a victim.

Kristi Herold

To hear more from this female founder, listen to our Grit Daily Like a Boss podcast on Apple, Spotify and everywhere that content is streamed.

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Kelly felt that a show focused on VCs, many of whom were once founders themselves, would be even more entertaining than his already successful Pitch Madness. Pitch Madness is a live debate where startup founders compete by answering business-related questions posed by a moderator, and have their answers judged by a panel of investors.

Kelly, expanding on this idea of entertaining debate-style business forums and inspired by his love of sports shows, brought together elements from each, and gave Primetime VC the tagline, “the show of accredited banter.”

Primetime VC, which launched its pilot on August 17^th on YouTube under the Pitch Madness umbrella, has 3 sections – First In, Buy or Sell and the Money Round. Throughout the program, the moderator awards the VC panelists points based on the quality of their answers – either for relevance, depth or entertainment value. At the end, the winners get the platform to themselves for 60 seconds to talk about anything they want– a chance to close out the show on their own note.

The pilot episode, entitled “Venture Capitalist Debate TikTok’s Future, Elon Musk, SPAC, IPO, Fundraising in COVID,” lasted just over 30 minutes, and offered thought-provoking perspectives on a variety of goings on in the investment world. Those watching who are not well versed in investment lingo may have to look up some of the references made, but the show could be very educational and entertaining for investors and entrepreneurs. The show included 4 panelists: Lo Toney of Plexo Capital, Jenny Friedman of Supernode Investors, Paul Martino of Bullpen Capital and Nihal Mehta of ENIAC Ventures, and was moderated by Charlie Stephens. The panelists talked about current issues including the investment climate during coronavirus, TikTok’s future and Slack’s lawsuit against Microsoft.

Kelly has gotten interest and positive feedback from venture capitalists about participating in the show, and he hopes that it will grow organically on YouTube or get picked up by a network.

Primetime VC gives insight into the minds of investors – their unique perspectives on the way politics affect business, the short and long term trajectories of their portfolios, and what they look for before deciding to shell out funds. Kelly says, “We’re giving them [VCs] that outlet to talk about themselves and how they look at the world in a unique way and through a fun format that isn’t that typical boring interview.” Kelly also mentioned that VCs, not just companies, have to market themselves in order to stay in the loop about the best investment opportunities for their portfolios.

Pitch Madness is at its best when done in a live setting, but coronavirus gave Kelly the opportunity to explore a digital format that brings together venture capitalists, who, he argues, are often more entertaining and well-versed in the business world. Unlike founders, who know their own product inside and out, investors have a wider knowledge bank from which to educate people. For now, Primetime VC will post new shows on a bi-weekly basis, but Kelly hopes that the show will get enough traction to make it weekly.

Shows that can make complex ideas palatable to the layperson in an entertaining way, are the future of education. Coronavirus has exposed the limits of virtual learning, what Lo Toney called “Zoom fatigue,” but an entertaining and educational debate forum that looks like a sports show may be just what people need right now.

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Could the MLB Season End?

Within a week of the league starting the 2020 season, commissioner Rob Manfred has already issued a warning (via ESPN). Today, Manfred cautioned the player’s union about calling things off, following players from the Miami Marlins and Philadelphia Phillies testing positive for COVID-19. 

Manfred warned the player’s union that if more tests were positive, and if players ignored the safety protocols, the season would be called off as early as Monday. Apparently, more than a few players haven’t been sticking to a 113-page manual about playing safely. Too many players aren’t wearing masks, are high-fiving , or even spitting, observers have noticed.

Six Teams Not Playing

Today may spell doom for the MLB. A total of six teams are not playing their scheduled games today due to COVID-19. If a bunch of players test positive across all six teams, how could they play for the next few weeks? It may be impossible, which the league is now realizing. 

State and local governments are apparently currently puzzled by the MLB, trying to get them to follow the rules, too. Not all players are taking COVID-19 as seriously as they should be, which is a major part of the problem right now. Hopefully, the NBA and the NHL fare better with their players. 

1,200 Tests

Today, the league performed around 1,200 tests for COVID-19. 29 of the tests came out positive, which is .2 percent. 21 of the positive tests came from the Miami Marlins alone. They were the first team to have to cancel games, followed by Philly. Originally, the Marlins had only four players test positive. A few days later, 18 players had the coronavirus, which is surging in the United States, not slowing down. 

Right now, games played by the Baltimore Orioles, the Washington Nationals, the Toronto Blue Jays, and the New York Yankees have been postponed. St. Louis Cardinals had to postpone games as well after two of their players tested positive. The organization released the following statement:

The rescheduling as a result of two positive COVID-19 tests in the Cardinals’ organization is consistent with protocols to allow enough time for additional testing and contact tracing to be conducted. 

Other Teams Response

Clearly, all the teams can do right now is follow protocols and hope for the best. Team managers and owners have been vocally supportive of doing whatever is best, including Brewers president/GM David Stearns:

“We are supportive of Major League Baseball’s decision to postpone today’s game and look forward to playing our home opener as soon as conditions safely allow. The health and safety of our players and employees are, and will continue to be, our top priorities.”

Brewers’ owner, Mark Attanasio, said all the team can do is be smart and do their part: 

“We’re all committed, I believe — and I’ve talked to a number of players today — to finishing the season,” Attanasio said. “Insofar as we can continue to provide some enjoyment for our fans, I think that’s something we’re all committed to doing. … If we’re not smart and safe, then we’ll fail. But we’re doing everything we can not to fail.”

Hopefully, the league was prepared for a moment of crisis such as this and can move forward safely. It’s hard to be optimistic right now about much of anything, though. Ideally, the MLB, NHL, and NBA can keep us entertained throughout the summer and beyond, but following the start of the MLB’s season, the odds of that aren’t looking good.

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