New Delhi: On April 9, 2021, the extension of the USD 13 billion JSW Group amalgamation, JSW Sports, mentioned that it partnered with India Accelerator to mentor startups working in the sports domain. Along the far-reaching integration of new-age technology, the number of sports-tech startups is increasing at a turbo pace.
The partnership focuses on mentoring startups in the sports industry, sports data, gaming and e-sports, and creating a multidisciplinary ecosystem for them, said a statement.
Both the firms will jointly offer a 16-week long accelerator programme to squadron 5 to 7 seed-stage startups, it added.
This programme is said to engulf areas such as sports data analysis, wearables and performance, e-sports, stadiums and venues, fan engagement followed by extensive support and funding, it said.
“The sports culture has always been a big crowd puller and a uniting force across the country. With the mindset and well-spread acceptance of this vertical, it has grown multi-fold to encompass wider and multiple streams,” Ashish Bhatia, founder and managing director of India Accelerator, said.
He added that there are several unexplored and unidentified gaps and spaces in the services and products which can be covered by the innovative startups.
The selected startups in the programme will gain technical and product support, well-thought strategic delivery guidance, network-building opportunities as well as opportunities for concept testing.
Closure of the programme will involve a demo day attended by venture capital firms, mentors, and other partners, corporates and external investors.
According to JSW Sports Chief Executive Officer Mustafa Ghouse, the sports industry in India is only going to expand and innovate sports-tech solutions. This can be a game-changer in the fast-evolving market.
JSW Sports Chief Executive Officer Mustafa Ghouse said that the country has been at the forefront of technological advancements across all sectors, and huge potential can be seen for homegrown and in-house players to revolutionize the sports and entertainment bandwidth in India and beyond.
The programme will also observe the appointment of one selection and execution board comprising of representatives from both the parties.
The board will manage and carry out set timelines for sourcing and screening, acceleration and onboarding of startups, mentoring board formation in order to clinch pre-set growth milestones that are met along with marketing and promotion of the vertical, among others.