LeBron James hits the game-winning shot in Cleveland. (Photo by Gregory Shamus/Getty Images) Intel’s technology is a byproduct of its 2016 acquisition of Israeli video tech firm Replay Technologies, several years after the $64 billion-in-revenue chipmaker made a low six-figure investment in the startup. Intel and the NBA want to discover more companies like Replay.
The result: The two companies announced plans today for the NBA + Intel Capital Emerging Technology Investment Initiative. The brands will jointly evaluate global technology startups for potential investment and commercial collaboration in a multiyear program.
Venture investments in sports reached $1.5 billion in 2017, according to Deloitte. “We want to help identify, fund and advance the cause of startups that are in the space in the nexus between sports, technology and entertainment,” says Howard Wright, who heads business development at Intel Sports.
“We want to create a new immersive media world, and to do that you have to digitize and personalize the experience of sports and entertainment.” Wright joined Intel in 2015 after 14 years at Qualcomm. His first job after graduating from Stanford in 1989: NBA player.
He calls his three-year career short and non-illustrious. “It is really fulfilling to see my former employer and my current employer team up on something that can be this transformational in the ecosystem,” says Wright. Read more from forbes.com…
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