While the Philadelphia 76ers might have finished last in the Eastern Conference of the NBA this year, they are taking the offseason to build a project that should bode well for their future. The 76ers are building a brand new training complex in Camden, N.J., and 10,000 square feet of the building are dedicated to their Innovation Lab Crafted by Kimball.
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Beginning on Apr. 15, startups that operate in the intersection of consumer products and sports can apply to participate in the innovation lab, and the final winner will receive sponsorship from the 76ers and advisors from all of the partaking organizations, such as The Wharton School, if they are chosen.
The selected startups will also participate in core curriculum programs like a speaker series and leadership training. Additionally, these startups will have access to the wealth of departments in the 76ers organization, plus all of the various companies that are also partaking in this venture.
After the deadline for applications closes on Sept. 30, the 76ers will choose as many as six startups to incubate in the innovation lab for six months, before having the demo day and pitch competition. The winner of the innovation lab will be chosen there.
76ers CEO Scott O’Neill said that at the end of the day, this undertaking is solely to produce a number of sports tech, B2C variety of companies. He added that if one of these companies begins to look promising, the 76ers are not against pursuing acquisition opportunities.
Perhaps some of the technology could be used to give the 76ers a competitive edge, but it looks like this incubator is more so to facilitate some new business ideas, and perhaps add a successful startup to the 76ers’ revenue stream.