on the right track
International accelerator launches sports tech program in Houston
MassChallenge, an international accelerator with headquarters in Boston, is seeking startups with tech solutions in sports and athletics.
The MassChallenge SportsTech track is made possible with the organization's partnership with St. Louis, Missouri-based Stadia Ventures, an early stage investment and innovation hub focusing on sports and esports.
"Our goal with the MassChallenge SportsTech track is to provide a conduit for that knowledge to orient itself to the most promising sportstech startups from across the world," says Jon Nordby, who leads MassChallenge Texas in Houston.
The program is an additional track to MassChallenge's seed stage accelerator, which accepts innovative startups that have raised less than $1 million in funding and generated less than $2 million in revenue. Houston's program launched just over a year ago.
InnovationMap asked Nordby a few questions about what startups can expect from the program and why Texas
InnovationMap: Why is Texas a market for sports tech?
Jon Nordby: We have the great fortune of living in a part of the country where sports are not a hobby — they are a way of life. There are 10 professional sports teams across the Texas Triangle covering every major league sport. More importantly, the Texas business community has for decades worked at the intersection of industry and technology and there is a huge knowledge base here that can use the sportstech industry as a vehicle to have a major impact on the world.
The inventions, product, and discoveries being made on the field today will make their way to commercial markets within the next five years or so. These discoveries are possible only if these startups have access to experts in health, materials, analytics, and communications — all of which Texas has in droves.
IM: What type of startups is the program for?
JN: For the SportsTech Track we are looking for companies that fit that criteria and have a product, service, or offering for the sports world. This could include anything to help humans perform better in a competitive environment (field, arena or online) or teams and leagues to better support their players and fans.
The seed stage accelerator is open to all early-stage startups from any industry. MassChallenge defines early stage as young companies whose founders are building creative and disruptive solutions to meet a market need. They have raised less than $1 million in funding and generated less than $2 million in revenue.
IM: What does the partnership with Stadia Ventures bring to the table?
JN: Stadia Ventures is a premier force in the sportstech industry with their startup accelerator and investment fund. Together we are creating a pipeline of support for startups from seed stage, through scale-up, and beyond. Stadia's elite network of more than 200 professional sports and esports executives paired with MassChallenge's global startup programs and curriculum will offer benefits to entrepreneurs from all industries.
IM: How will this program differ from MassChallenge's industry agnostic programming?
JN: The SportsTech track is in addition to the core MassChallenge program. Startups invited to participate in the SportsTech track will have access to additional industry-specific programming, events, and dedicated experts. These startups are eligible to compete for the equity-free cash awards and receive all other benefits and access associated with being a MassChallenge finalist.
IM: What are you looking for in mentors?
JN: MassChallenge experts are the foundation for all MassChallenge accelerators. They serve as our judges, mentors, and curriculum facilitators, interfacing directly with the startups and helping them identify scalable solutions for their businesses. Experts come from a variety of backgrounds including business executives, industry experts, subject matter experts, local political leaders, lawyers, engineers and beyond. All of them share one common thread: they want to help create the future. Anyone interested in applying to be a MassChallenge expert and supporting the startups in this year's cohorts can apply online.