National Basketball Association and the investment arm of Intel are going to the hole on tech investments.
In multiyear deal, “NBA + Intel Capital Emerging Technology Initiative“, will help fund tech startups that blend sports and entertainment.
The NBA and Intel are building off the multiyear technology partnership announced last year, which made Intel an authorized provider of virtual reality with Intel True VR and of 360-degree volumetric video with Intel True View for official NBA broadcast partners globally.
“Venture investments in sports reached $1.5 billion in 2017, and the next five years in sports will be defined by even more technology disruption,” said Wendell Brooks, senior vice president of Intel Corporation and president of Intel Capital. “With this new initiative, the NBA and Intel Capital aim to bring extensive human and technology resources into companies we believe will lead the next wave of transformation in sports and entertainment.”
“We look forward to tapping into Intel Capital’s infrastructure and 27-year track record of identifying successful startups,” said Amy Brooks, president, Team Marketing & Business Operations and chief innovation officer at the NBA. “Together, we will identify and support the next generation of innovative sports and entertainment technology companies to find and develop new ways to enhance the game on the court and the fan experience.”
The initiative was announced at the annual Intel Capital Global Summit, the venture industry’s premiere technology networking event. At the Global Summit, Intel Capital also unveiled new investments totaling more than $70 million in 12 technology startups, bringing Intel Capital’s year-to-date investments to more than $115 million.
