Indianapolis took center stage with All-Star Weekend and tech innovation was at the forefront. From the first-of-its-kind LED basketball court to a heavy focus on putting capital to work in Indiana, we were thrilled to experience the energy and partnerships. The All-Star SportsTech Gathering hosted by Elevate Ventures, High Alpha Innovation, and SportsTech HQ was a highlight of the weekend with a curated guest list of sports executives, venture capital leaders, corporate influencers, SportsTech founders, and key players in the industry.
Myles Grote (Partner, Elevate Ventures), Jeff Hintz (Executive Director, Sports Tech HQ), Elliott Parker (CEO, High Alpha Innovation), and moderator Toph Day (CEO, Elevate Ventures), delved into the state of SportsTech providing a comprehensive overview of the current landscape of sports technology, highlighting opportunities, challenges, and the collaborative efforts driving innovation in the industry. Here are our favorite moments:
A Walk Down Memory Lane Exploring The Impact Of Indiana’s Decision To Create A Sports Commission
The panel kicked off with Toph and Jeff Hintz speaking about the impact of Indiana’s decision to create a Sports Commisions back in 1979. This milestone created the economic impact and community involvement we take for granted today. Jeff underscored these points, shedding light on Indiana’s active sports culture and partnerships with organizations like the Indiana Economic Development Corporation and Indiana Sports Corps.
Challenges For Founders In Raising Capital and Expressing Optimism About Venture Studios
Myles provided a decade-spanning overview of sports technology evolution, addressing early challenges for founders in raising capital and expressing optimism about venture studios playing a pivotal role in overcoming industry hurdles. He stressed the diversity within sports tech, encompassing both hardware and software companies and their influential roles.
“I’m extremely bullish on studios…I think that venture studios moving forward in a vertically focused environment, the intentionality that you can bring to the table of innovation is, is so interesting, so compelling, and so powerful.” – Myles Grote
Elliott drew insightful parallels between strategic decision-making in startups and the introduction of the three-point shot in basketball, emphasizing the need for quantity and quality in startup ideas. He detailed High Alpha Innovation’s venture-building model, designed to enhance startup success rates by systematically supporting collaborations between corporations, universities, and startups.
Sports Tech is an Interdisciplinary Industry
The conversation expanded to the momentum of sports tech as an interdisciplinary industry, touching on healthcare, wearables, and software. The panel highlighted the importance of cross-sector collaboration and Jeff Hintz provided insights into the founding of SportsTech HQ in Indiana. The role of venture studios in driving intentional innovation was a key focus, with Myles Grote expressing enthusiasm for the emergence of sports-focused venture studios globally in the next five to seven years. The panel concluded with Elliott Parker emphasizing High Alpha Innovation’s commitment to building enduring companies that solve significant problems.
