The NBA is now working with Intel’s venture capital arm to identify and invest in technology companies that could impact the fields of sports and entertainment.
Dubbed the “NBA + Intel Capital Emerging Technology Initiative” and announced at the Intel Capital Global Summit today, the first-of-a-kind, multi-year endeavor will focus on technologies that will enhance the NBA’s on-court product, its fan experience or the broader sports industry. While international companies will be eligible, preference will be given to those based in the U.S. In addition to a monetary investment, the partnership will offer mentorship and guidance to fledgling 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, president of Intel Capital, in a press release. “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.”
The two bold-faced brands already have a tech partnership in place that began last year, and in which Intel began supplying NBA broadcast partners with its True VR virtual reality experience and its True View 360-degree volumetric video. Intel is also a founding partner of the recently launched NBA 2K League.
“We look forward to tapping into Intel Capital’s infrastructure and 27-year track record of identifying successful startups,” said Amy Brooks, NBA chief innovation officer in the release announcing the partnership. “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.”
SportTechie Takeaway
Intel Capital has already invested heavily in sports and related technologies—Kinduct, ScoreStream, Trace and Voke VR, to name a few. While such a deep partnership with a pro sports league is unique, the NBA is a kindred spirit. As Humbles Ventures co-founder Harry Alford wrote last year, “Intel is to the computer industry as the NBA is to the sports industry,” referring to their shared interest in fostering the growth of new technologies within their own ecosystems.
The scope of Intel Capital’s fund is truly massive, with $12.2 billion invested across 1,520 companies since 1991. A further $72 million invested in 12 companies was announced at this week’s summit. With the sports and sports tech industries growing exponentially, a deeper commitment to the space—with a like-minded partner in the NBA—presents some tantalizing potential for Intel.