HBO’s series Ballers debuted over the summer, which brought forth inevitable comparisons to the acclaimed Entourage. The worlds of sports and entertainment are, certainly, blurred and intertwined. While the latter show set the standard, the former had to form its own storyline that’s unique and consistent to football culture.
Nevertheless, a motif materialized over the course of Ballers’ opening season: the level of uncertainty and paths that can be taken once a playing career concludes abounds.
Still, those players that are fiscally prudent, can prove to be wise investors if they learn some of the nuances and immerse themselves in financing, particularly in the technology sector.
During this offseason, OurCrowd, an industry leader as a crowdfunding platform and investor in Israeli-based startups, partnered with Jnext, the Jerusalem Development Authority program that promotes tech-based entrepreneurship in the city, to host 19 NFL Hall of Famers–which included the likes of Tim Brown, Paul Krause, and Curtis Martin–for an exhibition of the latest technologies derived from the book entitled Startup Nation.
Dubbed as “Touchdown in Israel: Mission of Excellence,” this quest was made possible by New England Patriots’ Owner and Chief Executive Officer, Robert Kraft, in coordination with Israel’s Ambassador to the United States, Ron Dermer. This week-long trip started off with a technology expo in Jerusalem’s Old City. Members of this party received a detailed look at some of the best, high-tech innovation coming out of Israel to date; seven of the ten hand-picked startups are being funded via the OurCrowd medium.
For OurCrowd, though, their overall mission manifested, itself, through partaking in such an event.
“First, it’s to democratize the world of investing, so that investors who would have been unable to invest in startups in the past can now have a chance to take part in these potentially high growth investments, with the same terms as larger investors,” Jon Medved, OurCrowd’s Founder and Chief Executive Officer, tells SportTechie.
“The second, is to enable startups that have great, often truly transformative ideas, to that those ideas and share them with the world,” added Medved.
“The third, is to provide the safest possible investment platform to our investors, which position them (and us) in the best possible place to succeed,” Medved continued.
Accordingly, these aforementioned values translate to this function since they’re providing a platform, while showcasing notable startups that are making an impact with their respective partners. Through collaborating with the NFL, Jnext, and the U.S. Embassy, OurCrowd was able to round up the palatable partners coupled with new technological products and services for a worthwhile endeavor–exactly what OurCrowd represents and wants to establish further.
The Israeli startup boom shouldn’t come as a surprise to domestic counterparts. Its ecosystem is unique, insofar as offering significant value to investors as well as consistently producing top-tier technology–in spite of having fewer resources than other countries. Of note, dual core processing, instant messaging, the flash drive, and Waze, a social GPS tool that was acquired by Google for $1 billion, are just some of the products that have sprouted from this region.
In fact, Israeli high-tech startup exits have increased by 980 percent during the last five years alone, which accounted for a 2014 record of $9.2 billion. There’s over 70 Israeli companies listed in NASDAQ, that’s more than China, Japan, Korea, and Europe put together. The IMD Global Competitiveness Yearbook ranked Israel first in the world for innovation capacity, with north of 4,000 startups in the greater Tel Aviv area alone.
The success in the Israeli startup scene can be attributed to a range of factors: geographical location, military roots, a self-reliance attitude, embracing diversity, and immigration history.
These aforementioned traits foster their culture of serial entrepreneurship, trickling down to sports-related tech startups, too.
Two of which were in attendance for this event: ElMindA and ReWalk.
ElMindA is the world’s first FDA-approved neural functional assessment tool to visualize serious brain trauma and illness. Besides offering a non-invasive method to detect diseases, like Alzheimers and Parkinsons, at early stages, this startup addresses the ongoing sports issue pertinent to concussions. Their technology is able to measure the impact of a concussed brain; instead of conventional cognitive tests, it records the brain’s electrical activity. Through this kind of evaluation and analysis methodology, prevention of brain damage and diseases afflicted by sports can become more accurately diagnosable.
ReWalk, on the other hand, serves as a personal exoskeleton, which gives paraplegics the ability to stand, walk, and climb. Although ReWalk doesn’t prevent injury or provide better diagnose, it allows people who have suffered injuries and become paralyzed live more independent and fulfilling life. Such an offering relates back to athletes in contact sports, especially those at risk of spinal injuries. It definitely intends to lift the spirits of people whose lives were formed around physical activity since childhood. In particular, ReWalk has helped event rider Claire Thomas to regain a sense of normalcy after losing her legs, by allowing her to compete and finish the London Marathon. Also, Matt Stevens, a former NFL player, was given the ability to walk after becoming paralyzed with a spinal injury.
“From the player’s perspective, they were really excited about the advanced technologies they were shown, and the blossoming startup scene in Israel, especially in Jerusalem. The startups that were introduced to the players were either sports-related or startups that will change the world for the better,” says Medved.
This voyage to Israel, introducing NFL Hall of Famers to its startup community, signals opportunities to expand their horizons, where technological innovation can stand as the foundation towards future fiscal endeavors.