Last year, Capitalize, the NBA’s first Venture Capitalist pitch contest hosted by the Kings, created a unique opportunity for local entrepreneurs and startups within 75 miles of Sacramento to share their innovative ideas – and potentially take the next step into a global marketplace.
100 entrants — from startups to companies on the cusp – applied for the chance to pitch their idea to leading regional and global VC voices. In tournament style, companies went head-to-head selling their idea in front of a panel of judges.
From the four finalists, the Kings saw huge promise — not only in innovative ideas that could be incorporated into Golden 1 Center, but also in new partners to collaborate with for community outreach initiatives.
2016 Capitalize finalist California Safe Soil provides a state-of-the-art waste solution used at Golden 1 Center – the most technologically advanced and greenest arena in the world. Since the contest, California Safe Soil has expanded to an 80,000 square-foot facility to meet their client needs. 2016 Capitalize Finalist Barobo also benefitted from the competition and recently received the 2016 Sacramento Regional Innovation Award for Hardware and Electronics, and looks to work with the Kings Foundation to create a new approach to school STEM programs.
After such success in its first year, the Capitalize contest, powered by Moneta Ventures, has returned for another year. Mirroring the process of the NBA’s All-Star selection, fans will be able to vote for their favorite company with the hashtag #KingsCapitalize - starting March 15 through March 22. The winner will be announced at Golden 1 Center’s Tech Night on March 22—receiving a grand prize package including a cash and lunch with Kings executives and a team owner, as well as introductions to other angel investors.
Applications are open through 12 p.m. on Friday, February 17th at www.Kings.com/capitalize.