New technology from startup ventures is transforming the sports industry. The mission of our Startup Profile Series is to introduce startup companies in the sports technology space to a broader audience and allow founders of new ventures to tell their story. This particular article is profiling one of the ten startups in the Dodgers Accelerator with R/GA, which is culminating in a Demo Day on November 10th at Dodger Stadium.
Company: SidePrize
CEO: Adam Wexler
1. What is your elevator pitch?
SidePrize raises the stakes in fantasy leagues by allowing friends to challenge anyone in their league on a given week for cash and prizes.
2. Problem & Solution
Problem: Too many season-long fantasy players lose interest over the course of the season as the standings shake out.
Solution: Even if you’re 2-7 heading into Week 10 of your league, out of the playoff chase but Tony Romo just came back, you can ensure your fantasy league remains interesting by playing your leaguemates in Head-to-Head matches for cash & prizes.
3. Market
Our overall market is the 84% of fantasy players who play the traditional season-long format (47.7M in 2014). Our target market are the season-long players, who love talking smack in their leagues and want their rivals to put their money where their mouth is.
4. Business Model
While aspiring towards product/market fit remains our top priority in 2015, our primary business model will likely be taking a small transaction fee from any accepted challenges made through our application. We also strike deals with brands to offer season-long fantasy players special prizes for their week-to-week victories.
5. Management Team
Adam Wexler, Chief Eexecutive Officer; Tareq Dowla – Head of Product; Sam Solomon – Head of Design; Brett Norris – Head of Engineering’ Stephen Reid – Senior Software Engineer; Daniel Kaplan – Senior Software Engineer
6. What specifically attracted you to the opportunity to join the Dodgers/RGA Accelerator?
The Accelerator offered an unprecedented opportunity for companies in the sports technology world. The Dodgers brought their amazing network to the table and R/GA brought their world-class services into the fold. Despite having seen my last startup rise past 50 employees, I knew the program could be beneficial to any startup with it’s niche focus.
Bonus Questions
If you were stuck on a desert island with any three athletes, who would they be and why?
Steve Nash – more than held his own amongst giants and was a fierce competitor; Charles Barkley – One of the most entertaining athletes on & off the court; Peyton Manning – A student of the game and incredible comeback after serious injuries
If you could go to any sporting event, what would it be and why?
I would attend the Summer Olympics again because it’s the greatest collection of athletes in the world. I was fortunate to experience the Olympics in Atlanta in 1996, but I was too young to really comprehend Michael Johnson breaking those records & more. As is, I’m looking forward to attending the start of next year’s Olympics in Rio.