Comcast and NBCUniversal's Sports Tech Initiative Showcases Multiple AI-Focused Ventures
This week, a group of sports execs and startup founders kick off the Comcast NBCUniversal SportsTech program in Atlanta. Now in its fifth year, the accelerator involves ten early-stage ventures focusing on sports and technology. Over the next six months, these companies will gain insights from experienced business leaders, test their ideas, and seek funding or partnerships.
Comcast and Boomtown, which assists startups and operates the accelerator, contribute $50,000 to each startup selected. As a result, Comcast and Boomtown acquire an equity stake in these ventures. Over 1,600 firms applied for the accelerator this year, showcasing a wide array of experiences, origins, and target markets.
Notably, several startups this year are pioneering the use of AI in their products. Resembling a trend among early-stage firms, AI is becoming a common tool that can deliver substantial cost savings and efficiency, according to Jenna Kurath, Vice President of Startup Partnerships and Head of Comcast NBCUniversal SportsTech.
One such firm, Orreco, located in Galway, Ireland, has an established AI sports analytics platform. For years, Orreco has collaborated with various entities, including the Atlanta Hawks and NBA players, to help them make well-informed decisions in areas like sleep, recovery, training, and much more.
Another AI-driven company is Camb.AI, based in Dubai, UAE. The company utilizes AI for content translation to facilitate seamless localization of sports broadcasters and leagues' content. This innovation has already caught the attention of Major League Soccer, which is now using Camb.AI’s technology to translate matches in various languages simultaneously.
OZ Sports, an Iceland-based company, also joins the SportsTech program this year. Utilizing AI, OZ Sports powers remote sports broadcasting with cameras, delivering high-quality output at reduced costs.
Additionally, the SportsTech cohort features Diddo, a Los Angeles-based technology company using AI to allow viewers to easily purchase products seen during video content. Other companies, such as Ekkobar, Liminal Space, LiveLike, PAM, and Transmit, also join the program, each focusing on unique areas like social media analysis, LED display systems, audience engagement, navigation, and advertising integration, respectively.
The SportsTech program welcomes these startups with a six-month partnership that includes mentorship, testing, and potential funding opportunities from various partners. Some partners, including NBA Sports, NBC Sports, and NASCAR, will even invest in or forge commercial deals with these companies.
As these ventures build connections with industry leaders, they participate in activities like attending NASCAR races and connecting with sports personalities to enhance their professional growth. Curiously, while NBA and WNBA do not formally join the SportsTech program, both leagues actively collaborate with young companies and emerging technologies. In fact, the NBA recently launched the NBA Launchpad, which nurtures sports technology startups.
By engaging with startups dedicated to innovation, Comcast and the affiliated partners can maintain a competitive edge and unlock new revenue opportunities in the fast-evolving sports tech landscape.
The partnership between Comcast and Boomtown provides each selected startup with a $50,000 investment, earning them an equity stake in these sportstech startups. This influx of funding and expertise is crucial for startups like Orreco, based in Galway, Ireland, as they continue to use AI for sports analytics and collaborate with professional teams.
Moreover, the sports tech boomtown is attracting a diverse range of startups, such as Camb.AI from Dubai, which utilizes AI for content translation to broaden sports broadcast reach globally. Similarly, OZ Sports, joining from Iceland, leverages AI for remote sports broadcasting to provide high-quality output at reduced costs.
The SportsTech program's partnership also opens up potential deal opportunities with industry giants, like NBA Sports, NBC Sports, and NASCAR, who are eager to invest in or forge commercial partnerships with these cutting-edge startups. The program provides the startups with valuable mentorship, testing, and networking opportunities, setting them up for success in the rapidly evolving sports tech market.
