Jerusalem-based equity crowdfunding platform OurCrowd has announced a new partnership with Berlin’s “sportstech” accelerator leAD to jointly search for startups in the sector, some of which will enter leAD’s accelerator cohort between September and December 2017.
“We’re delighted to be launching a partnership with leAD, a leading SportsTech accelerator with extensive ties to the global sports industry,” said OurCrowd Founder and CEO Jon Medved in a press release. “Coming on the heels of Intel’s 2016 acquisition of OurCrowd SportsTech portfolio company Replay Technologies, this partnership positions OurCrowd to be at the forefront of the burgeoning SportsTech scene, while gaining access to the best startups that the industry has to offer.”
The Berlin-based acceleration program will provide workspace in the German capital for three months, €25,000 of direct investment, access to mentors and other investors, basic knowledge in legal and IP issues, plus some very useful pitch training. That package will garner leAD eight percent in equity from all participating companies.
“We are trying to enable Israeli companies to grow. We are going to suggest Israeli companies to the accelerator with our recommendation,” an OurCrowd spokesperson told Geektime. After some due diligence, leAD will make the final decision on whether or not they make it into the program in late 2017. He added that OurCrowd would have the option, but no obligation, to subsequently invest.
“We’re thrilled to join with OurCrowd in identifying the next generation of sports innovation companies,” Horst Bente, CEO at Adi Dassler International Family Office (ADIFO), said in a statement, “OurCrowd’s network and impressive track record in finding and nurturing successful startups make it a natural partner for leAD.”
The accelerator is the initiative of Adidas-founder Adi Dessler’s children, who they say was instrumental in a vision of pushing athletics into the future.
“Growing up with our grandfather was a tremendous experience,” Bente reminisces about Dessler in a company video. “He created the passion of sports we now have the chance to pass on to others.”
The two companies will present more on their partnership Tuesday evening at an event in Tel Aviv where Mr. Bente will describe his grandfather’s legacy in connection with leAD’s plans for the accelerator.
The announcement comes out in the lead up to OurCrowd’s Global Investor Summit on February 16, 2017 in Jerusalem.