In the last year or so, Toronto’s sporty side has attracted much more global attention. The upcoming Pan Am and Parapan Games, the 2016 NBA All-Star Game and the 2016 World Cup of Hockey are just a few of the events that will draw even more eyeballs our way.
So Cheri Bradish, Loretta Rogers Research Chair in Sport Marketing at the Ryerson University’s Ted Rogers School of Management, wondered about ways the city could capitalize on that attention, presenting Toronto as a hub of sports innovation. Not just on the business side of sports, but also innovation for players themselves, both professional and amateur.
The Next Big Idea in Sport Competition, with $100,000 in prizes plus other startup supports, is designed to nurture companies working on innovative sports technology. Launched last week by Ryerson’s Digital Media Zone (DMZ), in partnership with Rogers Communications,
the competition may tempt companies and individuals dabbling in sports technology to scale up their efforts and commercialize their ideas.
“We knew we needed something that would create the first cohort in this space,” says Bradish. “A competition really allows us to reach out, get some media and marketing recognition. In addition to the competition, we’ll be co-zoning with companies already in the DMZ that are doing sports and entertainment work.”
Organizers will pick 10 projects from the applicants they receive. They might be working on biometric wearable sensors to collect and analyse data during games, social-media technology that delivers a new fan experience or innovations in the business of sport management. These 10 finalists get a four-month residency in the DMZ’s new sports-focused startup incubation program, which will provide them with free co-working space and services, business development opportunities, access to industry experts and mentorship from a network of sports and business leaders. At the end of the four months, judges will chose the three top teams, who will be awarded cash prizes: $50,000 for the first-place team, $30,000 for the second-place team and $20,000 for third.
Within a day or two of launching the competition, Bradish says they’ve received almost 20 notes of interest from teams interested in entering. Applications close May 1; the finalists will be announced May 11.
Writer: Paul Gallant
Source: Cheri Bradish