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 CEO’s of new ventures to tell their story.
Company: Electronic Gaming Federation
CEO: Tyler Schrodt
Company Introduction: Two or three sentences
The Electronic Gaming Federation (EGF) is an electronic sports organization that combines the best aspects of the NCAA and ESPN, and applies them to eSports. EGF accomplishes this through an eSports management platform, organizing and overseeing eSports leagues and tournaments, and producing eSports media.
1.What is your elevator pitch? 140 characters, please.
EGF combines the best aspects of ESPN and the NCAA to bring eSports to collegiate athletics all over the world.
2. Problem & Solution
Running the NCAA-equivalent of eSports lets us solve problems for three parties simultaneously.
For professional eSports organizations, there isn’t currently an infrastructure to anchor the industry or provide a talent funnel for both players and support staff. Our league system and collegiate infrastructure lay the foundation to afford an eSports athlete the same career paths as a traditional athlete.
Colleges struggle to recruit and engage students resulting in an alarmingly low graduation rate of less than 60%. Studies show that about 70% of students play video games, and through leveraging the GPA requirements in our leagues and incentives for performing well academically, we have the means to increase graduation rates through improved student engagement, resulting in the retention of billions of tuition dollars for universities across the US. eSports programs additionally act as an excellent means to attract those students who are more likely to go to a LAN party than a pep rally.
For collegiate gamers, EGF provides the opportunity to be recognized for their skills in the electronic gaming environment. Gamers love community, and EGF organizes student populations and provides them with a medium to be recognized for their talents through our community programs.
3. Market – your target market and the overall market
There are just over 21,000 colleges in the world and a growing pool of 400 million games. EGF focuses on the 4,900 colleges in North America and its 39 million eSports enthusiasts.
4. Business Model – how do you make money?
EGF’s model is broken down into 3 verticals:
- Collegiate platform and services: colleges pay EGF dues to be members of our leagues, and for the support services that we offer to their programs.
- Competitions: EGF charges participants to compete in specialized tournaments for cash prizes.
- Media and advertising: just like with traditional tv production, online streaming services allow EGF to sell advertising spots, with an audience of more than 100 million viewers.
5. Management Team – with titles
- Tyler Schrodt – CEO and Founder
- Rockie Hunter – Art Director
- Andrew Cutter – Operations Architect
- Josh Roberts – Broadcast Director
6. What do you want the audience to know about your venture?
Putting aside the discussion of whether eSports qualifies as “sports” or not, the positive impact that we can have on students and gamers around the world is too important to ignore. eSports make a huge difference in people’s lives, and we’re proud to be part of this rapidly-developing industry.
Bonus question: If you were to invite any CEO to dinner who would it be and why?
Elon Musk. Without question. Beyond his being a gamer, his philosophies and indomitable drive have inspired me time and time again.
Grant Son executed this interview with Tyler.
Grant is a proven innovator and champion in both large corporations and entrepreneurial environments. Professional experience includes serving as CEO of two digital ventures – SchoolSports (top-10 sports website acquired by ESPN) and Greater Good Ventures – as well as senior roles with iconic sports brands such as CBS, the NFL, and Sports Illustrated. MBA in finance from Columbia and BA from the University of Pennsylvania. Thirty years of experience, including 20 years in digital media. Board member and advisor to established companies and more than 20 start-up ventures.
Attended every major sporting event, including six Super Bowls, World Cup Soccer, World Series, NBA Finals, Stanley Cup Finals, championship boxing, and two Olympics.