Future of Sport Lab and Relay Ventures Join
Forces to Propel Innovation in Sports Technology
As a new foundational partner, Relay Ventures will invest in the Future
of Sport Lab’s network of sports startups
Future of Sport Lab is now accepting applications for its 2024 Cohort
TORONTO, ON, February 29, 2024 – – Future
of Sport Lab, a SportsTech innovation hub founded by Toronto
Metropolitan University (TMU) with Maple Leaf Sports & Entertainment and
supported by the DMZ, is
excited to announce its new strategic partnership with Relay
Ventures, a leading Canadian venture capital firm specializing in early-stage
investments. This landmark partnership brings together Future of Sport Lab’s
expertise in sports technology research, innovation, and entrepreneurship with
Relay Ventures’ extensive experience in early stage SportsTech investing.
As a foundational partner, Relay Ventures has
committed to invest in and partner with a select number of companies from each
cohort, helping to create a pathway for entrepreneurs in the evolving sports
technology industry. Relay was involved in theScore’s $2 billion sale to PENN
Entertainment – the largest transaction ever recorded for a Canadian Sports
Tech company – and Playmaker’s $188 million sale to Better Collective.
Future of Sport Lab has already made significant
strides in advancing the SportsTech sector. To date, Future of Sport Lab has
graduated 19 startups that have gone on to raise more than $75 million in new
investments along with securing several significant
sport business partnerships. FSL alumni include successful SportsTech
companies such as Spalk, Zone 7, BookSeats and The Gist – all
which have blazed a trail of innovation in the sports industry. FSL is also supported by a remarkable roster
of more than 20 senior industry advisors and executives representing a range of
leading sport organizations and stakeholders.
“We are thrilled to have Future of Sport
Lab partner with Relay Ventures, a
renowned leader in early stage investments,” said Dr. Cheri Bradish, Founder
and Managing Director, Future of Sport Lab. “This alliance will enable us to
further accelerate the development of innovative sports technologies that will
revolutionize the industry and help to create a much needed pathway for
Canadian startups to secure funding to drive their businesses.”
“It is very exciting to join forces with
the Future of Sport Lab, a recognized leader in the SportsTech sector,”
said Simon Sokol, Vice President of Relay Ventures. “We continue to be
bullish on SportsTech and are excited to partner with startups from the Future
of Sport Lab to bring further innovation to the world of sports. We hope to
provide early-stage startups with the capital and resources needed to innovate
and disrupt the fast-changing world of sports. Together with the Future of Sport
Lab, we are committed to supporting innovation and the creation of
groundbreaking solutions that will shape the future of sports, media and
entertainment.”
Brian Cooper, Chair of Future of
Sport Lab, emphasized the importance of Canadian startups having access to new
funding opportunities. He stated, “This partnership with Relay Ventures
opens up a world of possibilities for Canadian startups in the sports
technology sector. Access to new funding is vital for the growth and success of
these innovative companies, and this collaboration will provide them with the
resources they need to thrive in a competitive global market.”
Future of Sport Lab is now accepting
applications for its 2024 cohort. Perspective startups can apply at https://www.futuresportlab.com/apply
The Future of Sport Lab offers a
custom incubator program for startups and innovators which includes dedicated
mentorship, agile curricular programming, pilot projects and academic support
through the program and DMZ.
About The Future of Sport Lab
The Future of Sport Lab (FSL) is a collaborative lab for sport innovation
established by Toronto Metropolitan University and Maple Leaf Sports and
Entertainment (MLSE) with support from
DMZ. FSL is widely recognized as Canada’s global leader in sport
innovation, creating an ecosystem that connects sport properties, industry
partners, entrepreneurs, investors, thought leaders and scholars. Supported by
an unmatched network of more than 20 senior industry advisors from leading
sport organizations and stakeholders, FSL has fostered a number of diverse
innovative sport solutions and technologies as well as related insights and education,
and to date, startups through the program have raised over $75 million in new
financing and investments along with securing a number of significant sport
business partnerships.
Relay Ventures
Relay
Ventures, founded in 2008, is one of Canada’s leading independent VC fund
managers. The Firm is presently investing out of its fifth fund which commenced
in 2022. It has invested in more than 130 companies and successfully exited
more than half through M&A and IPO. The Firm has a team of 20 professionals
with offices in Toronto, Calgary, and San Francisco.
About DMZ
DMZ is a
world-leading startup incubator based at Toronto Metropolitan University that
equips the next generation of tech entrepreneurs with the tools needed to
build, launch and scale highly impactful startups. By providing connections to
customers, coaching, capital and a community, DMZ’s customized approach helps
innovators reach the next milestone in their entrepreneurial journey – whatever
that might be. Through its award-winning programming, DMZ has helped more than
820 startups raise $2.58 billion in capital and create 5,000+ jobs.
Headquartered in Toronto, Canada, with globally-accessible programming, DMZ has
a widely-recognized international presence with offices in Vietnam, India and
the U.S., and partnerships across North America, Latin America, Africa and
Asia. Learn more at dmz.torontomu.ca
Media Contacts
Greg
McIsaac
Future of
Sport Lab
Tel: (416)
458-3591
greg@junctioncommunications.com