The Los Angeles Dodgers are expanding the baseball franchise’s investment arm from an accelerator to a more all-encompassing “studio”model where new startups, program graduates and partners can work together as a team to build on each other’s success.
After providing seed investments over the past few years to a number of sports tech startups, including automated video production company Keemotion, real-time basketball stats platform ShotTracker, human performance software maker Kinduct and mobile fitness app Proday Media, the Dodgers are launching a matured version of their investment arm in conjunction with digital agency R/GA.
The Global Sports Venture Studio will accept growth-stage startup applicants on a rolling basis and bring together program graduates alongside key players across the sports, technology and entertainment industries, including teams, leagues, player associations, media companies, retailers, industry vendors, esports organizations, sports betting and fantasy sports program.
“This creates a more flexible, rolling platform where we have engaged third parties, like we did last year with FOX Sports and Intel when they worked with ShotTracker and Keemotion,” Dodgers Chief Financial Officer Tucker Kain said in an interview with SportTechie. “We want to make sure those types of opportunities remain not only for new companies coming into the program on a rolling basis but also for our existing portfolio companies.”
Last year, Dodgers Accelerator graduates Keemotion and ShotTracker teamed up to provide fans, players and coaches of the NAIA Division I Men’s Championship access to real-time player statistics and live game coverage during the six-day tournament. The experience was live streamed on FOX Sports GO.
“The Dodgers organization has seen great success with our previous accelerator programs by embracing disruption and taking a close look at new technologies and shifts in consumer behavior,” Kain said. “We now want to open up this platform for others in the global sports and startup ecosystem to experiment with innovation, share success and grow as an industry.”
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The Studio program participants will have access to networking events throughout the year as well as exclusive original content and research data. Startups won’t have to relocate and studio activities will take place globally, starting with hubs in New York and Los Angeles, followed by London.
“Our programs are designed to provide value to our corporate program partners and to startups,” R/GA Chief Operating Officer Stephen Plumlee said in a statement. “By evolving the program model towards a more collaborative and global approach, the Global Sports Venture Studio will better enable program partners to capitalize on disruptive technologies and emerging consumer behaviors on an ongoing basis.”