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Intel Capital and the NBA Announce Emerging Technology Initiative
NBA and Intel Capital Emerging Technology Initiative will Identify Potential Partnership and Investment Opportunities with New Technologies at the Cutting Edge of Sports and Entertainment NEWS HIGHLIGHTS At the Intel Capital Global Summit 2018, the NBA and Intel Capital announced the “NBA + Intel Capital Emerging Technology Initiative” The NBA and Intel Capital will jointly identify and evaluate global technology companies for potential investment and other collaboration opportunities The multiyear collaboration targets technology disruption in the sports and entertainment industries PALM DESERT, Calif., May 8, 2018 – The National Basketball Association (NBA)* and Intel Capital today announced a sports and entertainment technology innovation collaboration called the “NBA + Intel Capital Emerging Technology Initiative.” The multiyear collaboration will foster the identification, formation and growth of technology companies that have the potential to impact the future of the NBA, sports and entertainment. This initiative aims to identify new technologies from global companies at all stages, but particularly U.S.-based startups that the NBA and Intel Capital will evaluate for potential partnership and investment opportunities. Among the companies that the NBA and Intel Capital will assess will be those with new technology solutions that can enhance the NBA game on the court, the overall fan experience and the sports industry worldwide. In addition, the NBA and Intel Capital will provide mentorship, strategic planning and business development support for the selected companies. “Venture investments in sports reached $1.5 billion in 2017, and the next five years in sports will be defined by even more technology disruption,” said Wendell Brooks, senior vice president of Intel Corporation and president of Intel Capital. “With this new initiative, the NBA and Intel Capital aim to bring extensive human and technology resources into companies we believe will lead the next wave of transformation in sports and entertainment.” “We look forward to tapping into Intel Capital’s infrastructure and 27-year track record of identifying successful startups,” said Amy Brooks, president, Team Marketing & Business Operations and chief innovation officer at the NBA. “Together, we will identify and support the next generation of innovative sports and entertainment technology companies to find and develop new ways to enhance the game on the court and the fan experience.” The NBA and Intel are building off the multiyear technology partnership announced last year, which made Intel an authorized provider of virtual reality with Intel® True VR and of 360-degree volumetric video with Intel® True View for official NBA broadcast partners globally. Additionally, last month Intel became a founding partner of the new NBA 2K League, providing the best gaming experience for both players and fans through its cloud to client technology solutions. Having delivered cutting-edge immersive media experiences that have changed the ways fans engage with sports, this new technology initiative is a natural next step in the continued disruption of sports and technology. The initiative was announced at the annual Intel Capital Global Summit, the venture industry’s premiere technology networking event. At the Global Summit, Intel Capital also unveiled new investments totaling more than $70 million in 12 technology startups, bringing Intel Capital’s year-to-date investments to more than $115 million.