In a groundbreaking move, Future of Sport Lab, a pioneering SportsTech incubator founded through a collaboration between Toronto Metropolitan University (TMU) and Maple Leaf Sports & Entertainment, supported by the DMZ, is delighted to announce a strategic alliance with Relay Ventures, a forefront Canadian venture capital firm known for its focus on early-stage SportsTech investments. This partnership unites the deep sports technology research, innovation, and entrepreneurship expertise of Future of Sport Lab with Relay Ventures’ robust experience in nurturing early-stage SportsTech ventures.
As a principal partner, Relay Ventures is set to invest in and collaborate with a selection of startups from each group, forging a vital support mechanism for entrepreneurs navigating the dynamic sports technology landscape. Relay’s involvement in notable transactions such as theScore’s acquisition by PENN Entertainment for $2 billion—the most substantial deal in Canadian Sports Tech history—and Playmaker’s acquisition by Better Collective for $188 million, underscores its impactful presence in the sector.
Future of Sport Lab has notably advanced the SportsTech field, successfully facilitating the graduation of 19 startups. These alumni have collectively raised over $75 million in fresh funding and have established numerous key sports business partnerships. Notable FSL graduates include Spalk, Zone 7, BookSeats, and The Gist, each contributing to a legacy of innovation within the sports industry. Additionally, FSL is bolstered by an impressive advisory board comprising over 20 senior industry advisors and executives from leading sports organizations.
Dr. Cheri Bradish, the Founder and Managing Director of Future of Sport Lab, expressed enthusiasm about the partnership with Relay Ventures, recognizing it as a significant step towards accelerating sports technology innovation and providing Canadian startups with the crucial funding needed to propel their ventures.
Echoing the sentiment, Simon Sokol, Vice President of Relay Ventures, highlighted the excitement surrounding the collaboration with Future of Sport Lab, a notable entity in the SportsTech arena. Relay Ventures is eager to support the next wave of SportsTech innovation, providing startups with the necessary capital and resources to challenge and evolve the sports industry. This partnership signifies a joint commitment to nurturing innovation and developing transformative solutions that will influence the future of sports, media, and entertainment.
