Four Canadian tech startups have been selected to join Comcast NBCUniversal’s 2024 SportsTech Accelerator.
The accelerator program will see the startups participating in customized programming to refine their go-to-market and business strategies with a focus on enterprise-ready scale. The program also gives companies access to mentors from sports brands such as the Premier League, PGA TOUR, NASCAR, and NBC Sports.
“Every facet of our decision-making process aims to unlock startups that can become ‘scale-ups’ ready to impact the world of sports.”
– Jenna Kurath, Comcast NBCUniversal SportsTech.
Shoe sensor company Plantiga, video streaming enhancing service Mobii Systems, and customer engagement platforms StellarAlgo and Fobi AI make up the Canadian startups in the 10-company accelerator program. According to Comcast, the selected companies were picked out of more than 1,500 applicants from 52 countries.
The participants will be brought on retreats to see behind the scenes at partner events, such as the PGA TOUR and NBC Sports’ producing professional sporting events like the Arnold Palmer Invitational, to identify how their solutions could fit into the partner’s operational needs.
The program will culminate with a showcase in Indianapolis at the end of August, where each company will show off its tech innovation and scale-up traction achieved during the program.
“When it comes to constructing and curating our sportstech portfolio, every facet of our decision-making process aims to unlock startups that can become ‘scale-ups’ ready to impact the world of sports,” head of Comcast NBCUniversal SportsTech Jenna Kurath said in a statement. “The sportstech program focuses not only on tackling complex business challenges for a vast cross-section of some of the world’s most recognized sports brands, but it additionally prepares founders to build sustainable businesses.”
The six-month program kicks off on March 4.
Founded in 2016, one of the larger Canadian startups in the cohort is Calgary-based StellarAlgo. Its software solution leverages fan data from in-person and virtual sources to help sports organizations and their partners execute more targeted fan outreach and boost fan engagement and revenue beyond just event ticket sales.
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The startup raised a $16.5-million CAD Series A round in 2021 and counted the Toronto Blue Jays and New York Yankees as some of its customers. In October 2023, StellarAlgo laid off 21 employees as part of a restructuring designed to help the company serve customers more efficiently during a time when macroeconomic conditions forced many Canadian tech companies to do the same.
Founded in 2018 with a similar mission to StellarAlgo, Vancouver-based Fobi AI offers AI-powered data analytics that businesses can use for customer engagement and personalization. Fobi went on an acquisition spree following a $7.4-million private placement in 2021, acquiring digital wallet platform PassWallet as well as couponing apps Qples and Basket within eight months.
Another Vancouver-based startup in the cohort is Plantiga, which provides an AI-powered sensor insole for athletes’ shoes and a supporting software platform. The sensor can detect and measure the effect of walking, running, and jumping on an athlete, providing data-based insights that can help with injury prevention and performance analysis.
Plantiga secured over $1.5 million CAD ($1.2 million USD) in funding to accelerate its marketing, sales, and product development efforts in 2021. The round saw participation from “a large group” of professional athlete investors, including former Toronto Raptors Thaddeus Young and Patrick Patterson.
The final Canadian startup participating in the accelerator is Toronto-based Mobii Systems, which specializes in low-latency video streaming solutions.
The Canadian companies in the SportsTech Accelerator will be joined by two American companies, Zoomph and Aquimo, two UK companies, Dizplai and KYMIRA, as well as one Brazilian, Matis AI, and one Swiss company, ZATAP.
Feature image courtesy Unsplash. Photo by JC Gellidon.
