Tel-Aviv based Hype Sports Innovation has launched an accelerator program dedicated to blockchain-focused startups in the sports industry. The program is three-months long and will accept startups from around the world.
Much of the program will be completed through weekly webinars and virtual one-on-one sessions with leading industry mentors and investors. Applications are open now until the end of May.
“While blockchain is a relatively new technology, it has limitless potential, particularly when it comes to sports,” said Ilan Hadar, CEO of Hype, in a press release. “With the launch of this new accelerator, we will provide the entrepreneurs in our program with unmatched access to our global network of teams, investors and partners, helping turn their startups into real game-changers and market leaders.”
Up to 30 startups will be invited to attend in-person bootcamps in June at NYU in New York and the ISDE Higher Institute of Law and Economics in Barcelona, where they’ll pitch in front of selection committees. A group of 12 startups will then be chosen to pitch before a crowd of global sports brands, clubs, and investors at a demo day scheduled for September.
According to the company, Hype leverages an ecosystem of over 11,000 startups, 750 Investors and venture capitalists, 450 global sports teams, and 40,000 members worldwide to aid participants in its accelerator programs.
SportTechie Takeaway
Blockchain is disrupting sports in a number of ways, from powering the voting system in the Fan Controlled Football League to helping the NFL Players Association combat memorabilia fraud. In 2018, Ticketmaster acquired a blockchain startup to upgrade its transparency and fraud protection during the ticketing process.