DivInc Houston Launches Inaugural 5G Sports Tech Accelerator in partnership with Verizon

Rhea-AI Summary

DivInc has launched its inaugural 5G Sports Tech Accelerator in Houston, supported by Verizon. This program aims to assist startups focusing on technology in sports, including fan experience and esports. The accelerator will accept 10 companies, providing each with $10,000 in non-dilutive funding over a 12-week period from April to June 2022. This initiative seeks to bolster Houston's reputation as a sports innovation hub while promoting inclusivity among underrepresented founders in the technology sector.

Positive

• Launch of the inaugural 5G Sports Tech Accelerator, supporting diverse startups.
• Partnership with Verizon, providing $10,000 non-dilutive funding to each of the 10 chosen startups.
• Aims to strengthen Houston's position as a sports innovation hub by fostering inclusivity.

Negative

• None.

HOUSTON, Jan. 27, 2022 /PRNewswire/ -- DivInc, the premier startup accelerator for people of color and women entrepreneurs, is proud to announce the launch of its first Sports Tech Accelerator made possible through support from title sponsor, Verizon.

DivInc's 5G Sports Tech Accelerator in partnership with Verizon supports startups using technology to drive human performance, fan experience, the future of media, sports betting, esports, and gaming innovation. It was designed to identify and provide sports and esports startups with the resources they need to succeed in the global sports technology market projected to reach $41 Billion by 2026. 

"DivInc is extremely excited and proud to lead this sports innovation initiative because it represents the beginning of an unprecedented collaboration throughout Houston and Texas," remarked Preston James, DivInc Co-Founder and CEO. "Houston is putting a stake in the ground to establish itself as a leading sports innovation hub in the US, and we're making it authentically inclusive of underrepresented founders from the beginning, the way it's supposed to be."

DivInc collaborates with professional sports and sports tech subject matter experts to serve as mentors, advisors, coaches, and investors to help cohort founders build businesses that attract teams, leagues, and agencies. "Our mentors are some of the industry's best, including venture-backed founders, professional athletes, angel investors, venture capitalists, VP & C-level executives from professional teams and leagues, and domain experts that can provide unique insights and opportunities for this cohort and future cohorts," says Ashley DeWalt, Managing Director in Houston.

In total, 10 companies will be accepted to the 12-week program which will run from April through June 2022 and will be hosted at The Ion in the heart of Midtown Houston. Upon completion of the program, each participating company will receive $10,000 non-dilutive seed funding provided by Verizon.

"Verizon is so pleased to continue its partnership with DivInc in Houston to support diverse and underrepresented founders, now expanding to the area of Sports Tech," noted Carrie Hughes, Director of Social Innovation for Verizon. "We look forward to supporting innovators in this space, where Verizon has significant experience, and which has the potential to be transformed by 5G and leading edge technology."

Throughout the accelerator, Verizon will also work with the DivInc team on programming and thought leadership initiatives.

The Spring 2022 5G Sports Tech Accelerator in partnership with Verizon is also supported by Houston premier partners, J.P. Morgan Chase & Co., The Ion, and Mercury, along with supporting sponsor, Intel, and programming partners HTX Sports Tech, The Cannon Sports & Media, Sports Innovation Texas, and Women in Sports Tech.

Learn more at www.divinc.org/sportstech. 

About DivInc:
DivInc is a 501c3 nonprofit organization whose mission is to generate social and economic equity through entrepreneurship by equipping underrepresented founders with access to the critical resources they need to build investable companies. Founded in Austin in 2016, DivInc has supported 73 companies. Learn more at https://www.divinc.org/.

About Verizon
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world's leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers' demand for mobility, reliable network connectivity, security and control.

Media Contact:
Cherise Luter
Marketing Director, DivInc
cherise@divinc.org

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SOURCE DivInc

FAQ

What is the 5G Sports Tech Accelerator launched by DivInc and Verizon?

The 5G Sports Tech Accelerator is a program designed to support startups utilizing technology in various areas of sports, including fan engagement and esports.

How much funding will startups receive from DivInc and Verizon's accelerator?

Each startup accepted into the accelerator will receive $10,000 in non-dilutive funding.

When will the 5G Sports Tech Accelerator program take place?

The program will run from April to June 2022.

How many companies will be accepted into the 5G Sports Tech Accelerator?

A total of 10 companies will be accepted into the accelerator program.

What is Verizon's role in the 5G Sports Tech Accelerator?

Verizon is the title sponsor, providing funding and collaborating on programming to support the startups.