New technology from startup ventures is transforming the sports industry. The mission of this series will be to introduce startup companies in the sports technology space to a broader audience and allow Founders of promising new ventures to tell their story. Feel free to contact us if you know of a startup that should be considered for this series.
Company: InGame Fantasy by Fanamana
CEO: Dan Cook
Headquarters: Washington DC
1. What is your elevator pitch?
As its name suggests, InGame Fantasy is the only fantasy game exclusively dedicated to drafting players in real-time during sporting events. InGame Fantasy is a mobile-only game available on iOS, Android, and even the Apple Watch. While drafting on other daily fantasy platforms like FanDuel and DraftKings ends when lineups lock, that is when the fun begins on InGame Fantasy. Additionally, our contests are modeled after actual sports with innings and outs for baseball, for example. Users select from batters that are on deck in their actual games. If a user drafts Mike Trout and he singles, that’s a runner on first. Select Miguel Cabrera next, and if he homers, that’s two runs on the scoreboard.
2. Problem & Solution
Just as daily fantasy helped rescue season-long fantasy owners of injury-riddled rosters with the added benefit of instant gratification, InGame Fantasy takes it to the next level. Fantasy owners won’t have their nights ruined by injuries – or the dreaded rainout in baseball – and they can also pivot on the dime if their players aren’t performing well in favor of the hot hand.
3. Market – your target market and the overall market
The Fantasy Sports Trade Association reported that 58 million people in North America played fantasy sports in 2014, with 18 percent of all Americans 18 and over participating. The FSTA also reported that the fantasy sports participants are spending an average of $465 per year on fantasy activities, with a whopping $257 going toward daily fantasy. In a mobile first world it makes perfect sense to give users a fully interactive experience where they can actively play a game instead of just monitoring their scores.
4. Business Model – how do you make money?
Just like FanDuel and DraftKings, InGame Fantasy takes a small percentage of the player’s entry fee.
5. Management Team – with titles
Dan Cook, Co-Founder & Inventor
A civil engineer with background in a construction cost data and technology.
Paul Murphy, Co-Founder & CTO
Founder and principal of 3Advance, a development shop based in DC
Darren Gibney, Co-Founder & Server Architect
Founder and principal of 3Advance, a development shop based in DC
6. What else do you want the audience to know about your venture?
InGame Fantasy isn’t just for stat crunchers – anyone that likes sports can get immersed in our games, and win too. While it is certainly a game of skill, users will never have to worry about going up against scripts or bots, an issue that has arisen in the last year in daily fantasy.
Bonus Questions:
If you were to invite any CEO to dinner who would it be and why?
Mark Cuban has proven to be a visionary NBA owner and investor. He’s one of the few investors out there that isn’t afraid of the legal issues facing daily fantasy sports and sees the huge growth potential for fantasy as a whole.