OurCrowd, an Israel-based equity crowdfunding organization, announced its partnership with recently-launched Berlin-based sports startup incubator, leAD Accelerator.
The grandchildren of adidas founder, Adolf “Adi” Dassler, started leAD Accelerator in November. The German sports accelerator will help fund startups, with a special focus on early-stage sports technology startups. LeAD Accelerator is accepting applications through May 31, and 15 startups will be selected to join the program in September.
The larger Adi Dassler International Family Office helped start and fund this new German sports incubator. Dassler’s oldest daughter and her three sons, Klaus, Horst and Stefan Bente, will host sports startups and entrepreneurs at a nearly three-month long summit from Sept. 12 to Dec. 8.
LeAD Accelerator will provide the winners a place to work in Berlin. All of the startups will also receive roughly $27,000 in direct investments, legal and IP training, pitch training, and access to mentors and other investors. In return, leAD will take an eight percent equity stake in each venture.
OurCrowd, a collection of individual investors that fund startups and entrepreneurs around the world, will help funnel Israeli sports-focused startups to the new leAD Accelerator program. But OurCrowd will be under no pressure to invest.
“We’re thrilled to join with OurCrowd in identifying the next generation of sports innovation companies,” ADIFO CEO Horst Bente said in a statement. “OurCrowd’s network and impressive track record in finding and nurturing successful startups make it a natural partner for leAD.”
OurCrowd’s roughly 16,500 individual investors have invested nearly $300 million into over 100 different ventures. Two of its companies have gone public and 11 have been acquired, one being the Intel-acquired 3D video company Replay Technologies. Replay has made waves in the sports entertainment world.
The partnership announcement came directly ahead of OurCrowd’s Global Investor Summit, which took place Thursday in Jerusalem. Nearly 6,000 guests from over 8o countries attended the summit, doubling the turnout from OurCrowd’s 2016 summit.
“What would #AdiDassler do today?” Adi’s grandchildren know he’d do exactly what we’re doing with #leADsports! #SportsBiz #Entrepreneur pic.twitter.com/81z4SIpqyA
— leAD Accelerator (@leADsports) February 8, 2017
We have taken off! Growing to over 6000 registrants from 80+ countries. Welcome to all of our guests from all over the world! #ocsummit17 pic.twitter.com/J4os0NZeU5
— OurCrowd (@OurCrowd) February 16, 2017