The Jerusalem based equity crowdfunding venture firm OurCrowd and Germany’s sports accelerator leAD are teaming up to identify startups developing sports-related products and services that have the potential to make a global impact.
The companies made the announcement Monday, ahead of the 2017 OurCrowd Global Investment Summit taking place in Jerusalem this week.
The partnership with leAD, “a leading SportsTech accelerator with extensive ties to the global sports industry,” will enable OurCrowd to be at the forefront of the burgeoning sports-tech scene while gaining access to the best startups that the industry has to offer,” OurCrowd Founder and CEO Jon Medved said in a statement. The collaboration follows Intel’s 2016 acquisition of OurCrowd sports-tech portfolio company Replay Technologies.
Over $1 billion was invested in sports-tech last year, and some of the largest corporations in the world are starting to tailor their technology and investment strategies to capitalize on this emerging market, the companies said in a statement. New technologies in virtual reality, wearables for training and recovery, video analytics, big data and eSports “make this an exciting investment space,” the statement said. SportsTech will be one of the subjects discussed at the OurCrowd summit.
Early-stage Israeli startups are invited to apply to participate in the accelerator program. The leAD accelerator was set up by the family of Adi Dassler, the founder of German multinational sportswear manufacturer Adidas. Dassler’s daughter and her sons have decided to leverage Dassler’s sports legacy to create a new ecosystem for sports technology entrepreneurship and innovation that will be then made available to investors worldwide.
The first class of the leAD Sports Accelerator will take place in 2017 in Berlin, Germany. Early-stage Israeli startups are invited to apply to the accelerator program.
OurCrowd has almost 16,500 investors from over 110 countries that have invested over $330 million into 110 portfolio companies and funds. The venture has had thirteen exits to date, two IPOs and 11 acquisitions. Its global investor summit, now in its third year, will be attended by over 5,000 investors, industry leaders, VC heads and entrepreneurs from 80 countries, and is being touted as the largest equity crowdfunding event in the world and the biggest investor event in Israel.