when you think When you think of Comcast, you probably think of cable and internet services, but it also owns NBCUniversal. Along with that comes considerable sports coverage, including the Olympics, NASCAR, WWE, and PGA, to name a few. As such, Comcast has an incentive to drive innovation in the way sports are covered and consumed.
In 2020, the company decided it needed a way to support startups implementing disruptive sports-related technology. The Comcast NBCUniversal SportsTech Accelerator was born with a vision to find startups that bring innovation to sports league partners, while also providing startups with access to his Comcast media expertise and the leagues themselves.
This year, the accelerator welcomed 10 companies to its third class, the 2023 cohort. Unlike many accelerators, this one is not aimed at complete beginners. Instead, we look for companies that are already building products and working with customers. Comcast will work with the companies throughout his six months, introducing them to partners and helping them grow, while the companies will continue to operate as usual.
Comcast invests $50,000 in each company in exchange for substantial stock. Jenna Kurath, vice president of partnerships at Startup and head of Comcast NBCU SportsTech, said this is a nominal amount, primarily designed to cover costs associated with participating in the accelerator. I admit that it is. But she says the investment sends an important message to cohort participants.
“It's really about us being in the game and contributing to their success, but another big important part of that is that we usually reserve to bring in strategic advisors. I think it’s wax stock,” Klass told TechCrunch+. “But in this case, you're bringing in multiple strategic advisors from different sports teams, leagues, and types of sports.”
The company also has a sister accelerator called Comcast NBCU Lift Labs, a six-week program focused on enterprise AI companies.