The Sacramento Kings, with an assist from local tech incubator Velocity Venture Capital, are hosting a tournament for aspiring startups.
The inaugural competition, called Capitalize, is inviting 32 startups within driving distance of Sacramento to apply to pitch their products in front of a judging panel of local investors and technology executives at Velocity Venture Capital’s Sacramento office. The field will be narrowed to four finalists that will showcase their innovations to the team’s 17,000 fans at “Tech Night” during a home game on April 5 against the Portland Trail Blazers. Winners selected by the fans will take home a cash prize.
The Kings are the first NBA team to host a crowdsourced local technology startup competition, according to the franchise.
The deadline is March 9 for startups to apply to Capitalize. For complete contest rules and applications visit, Kings.com/Capitalize.
The Kings continue to embrace emerging technology, such as virtual reality, drones and robots. Kings majority owner Vivek Ranadivé is heading an innovation investment team for the University of California. Several IT companies are working on technology that will be integrated into Sacramento’s new downtown arena.
Velocity Venture Capital, which has a campus in Folsom, recently expanded into downtown Sacramento office space.
