The Sacramento Kings are churning out yet another innovative technology endeavor. Capitalize Powered By Velocity Venture Capital is a technology startup contest that will pit local tech entrepreneurs against one another. 32 local (within 75 miles of Sacramento – Silicon Valley is about 120 miles away) technology startups will compete to become one of four finalists. The winner(s) will walk away with a cash prize as well as the opportunity to bend the ears of Kings executives and a team owner.
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Hopefuls can sign up until March 9th for the first ever NBA sponsored crowdsourced start-up contest by applying on the Kings website. The 32 finalists will be announced March 22nd. Once the finalist are chosen a four-round tournament judged by a panel of investors and technology innovators will take place.
An April 5th Kings home game against the Portland Trail Blazers will play host to the final round of the competition. “Tech Night” will give the four finalists the chance to pitch their startups to the Sleep Train Arena crowd; as those in attendance cast their votes to determine the winner in real-time on Twitter.
Kings, Velocity Host Tech Start-Up Contest » https://t.co/oGfRzKCuwP pic.twitter.com/Mq9Ho0Ru6S
— Sacramento Kings (@SacramentoKings) February 29, 2016
This promotion is another cog in the giant technologically driven franchise that the Kings have become in recent years; as we have covered in the past.
The Kings franchise was thought to be in jeopardy of leaving the Sacramento before their current owner, Vivek Ranadivé, took over in 2013. Although he is the first ever Indian owner in the NBA and a man whose tech company helped digitize Wall Street, there have been concerns that he may be lost when it comes to creating a successful basketball franchise on the court. However, while the Kings have not been competitive since he took over he has still managed to boost fan engagement with innovations off the court.
Ranadivé purchased a majority stake of the Kings in 2013 after being a part of the Golden State Warriors ownership group. Since he took over the franchise he has hired and fired three head coaches in three seasons. The Kings have not made the playoffs in a decade, and are well on their way to missing out again; yet the teams popularity locally could hardly be greater.
Sacramento Kings home games average 17,285 fans, selling 99.8% of available tickets per game; making them a top ten team in the NBA by that metric. Sacramento resident Google searches of the team are as high as they have ever been; even as their close California competition charges towards a historically great NBA season.
Golden 1 Center, the new home of the Kings will open before the start of the 2016-17 NBA season; when it does it will become one of the most high-tech arenas in all of professional sports. The 4K Ultra High Definition JumboTron will be the first of its kind, and Golden 1 will be the most wirelessly connected indoor venue in the world.
The Capitalize startup contest, which culminates on Tech Night, allows Kings fans to be a part of the local technology community unlike anywhere else in the NBA. After the fans decide who wins the contest they will also get an exclusive glimpse of the features that will make Golden 1 Center “the fastest most connected arena in the world.”
Kings fans are clearly enthralled by the technology that Sacramento has embraced and with attendance most likely will keep growing as fans bask in the glory of new Golden 1 Center. Ultimately, it is up to the Sacramento franchise to keep their fans entertained and engaged while the product on the floor catches up with the advancements off of it.