Sacramento Kings Launch Expanded Eighth Annual Capitalize Competition
Image Courtesy of Sacramento Kings
Sacramento Kings Launch Expanded Eighth Annual Capitalize Competition
Sacramento, Calif. — The Sacramento Kings announced the return and expansion of the eighth annual Capitalize, the NBA’s first crowdsourced startup competition, which offers local entrepreneurs the chance to secure funding and resources, receive mentorship and increase awareness about their business. Though this effort, Capitalize extends the Kings commitment to providing opportunities for up-and-coming innovators, giving them the platform to showcase new products and services on the NBA’s global stage.
This year, the Kings are expanding the Capitalize platform to provide two new sectors with support in capacity building, connections and pilot opportunities. The three Capitalize contests will include:
Capitalize: Technology - showcasing local technology entrepreneurs and innovators from the region;
Capitalize: Food - showcasing innovative food entrepreneurs and concepts; and
Capitalize: Innovation - showcasing game-changing solutions from entrepreneurs around the world with the goal of advancing key strategic priorities identified by the Kings.
“The Kings are proud to showcase innovative entrepreneurs in the Sacramento region and beyond through our groundbreaking Capitalize competition. We are thrilled to expand the Capitalize platform to additional sectors, providing more resources and mentorship opportunities to the next generation of creators and trailblazers.” — Sacramento Kings President of Business Operations John Rinehart.
Applications for the competition’s first contest, Capitalize: Technology, presented by Dialpad, the world’s most advanced business communications company, are now open. Startups located within 75 miles of Sacramento are eligible to apply at Kings.com/Capitalize, with applications closing on Thursday, February 2 at 11:59 p.m. The winner will be announced during Tech Night on March 24 as the Kings take on the Phoenix Suns and will receive a $10,000 cash prize towards the development of their startup and three years of access to Dialpad communication services.
"We are excited to see the Capitalize contest expand and encourage entrepreneurship in technology, food and global innovation. Much like in basketball, inspiration and teamwork are driving forces for entrepreneurs. We're eager to see what amazing ideas come from this year's teams." — Dialpad Founder and CEO Craig Walker.
Applicants will be narrowed down to the “Select 16” on February 6. The “Top 8” will be announced on February 10 and will receive additional coaching as they prepare for Pitch Day on March 1. At Pitch Day, a panel of successful entrepreneurs, executives and investors will judge the “Top 8’s” pitches and select the “4 Finalists.”
The “4 Finalists” will create pitch videos that will be displayed on Kings.com/Capitalize and will be used for fan voting via Twitter. Fans will have the opportunity to cast a vote starting March 2 until halftime of Kings game on March 24. The judges’ votes, along with fan votes, will be tallied and the Capitalize grand prize winner will be announced during the game. In addition, the second and third place winners will be awarded a prize of $3,000 and $1,500, respectively.
Last year, EyeRate, a rating platform that pays service employees cash when they get mentioned in online reviews and social media content, was crowned the winner of the 2022 Capitalize competition.
EyeRate wins 2022 Kings Capitalize Competition
“Kings Capitalize was one of the most energizing events we have participated in. The level of talent from the founders and teams, in the competition and from Sacramento, was inspiring to see. The exposure we gained from the event has led to rapid traction with new team members, partnership opportunities, and potential investors. We are very thankful to the Kings organization, Judges, and the Startup Community who put effort into making this a memorable experience. Best wishes to all companies that are participating in 2023 and congrats to this year's startup "Beam Team"!” — EyeRate CEO Raymond Weisberg.
Since the inaugural launch of Capitalize in 2016, hundreds of applicants from around the area have submitted their business ideas to be considered in this contest, with many expressing how valuable the contest has been for the growth of their emerging businesses. The Capitalize: Food and Capitalize: Innovation contests will launch later this year.
For more information and details on how to enter, visit Kings.com/Capitalize.
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About Dialpad
Dialpad is the global leader in AI communications for business, transforming how the world works together. Dialpad customers benefit from truly unified business and customer communications, including a cloud business phone system, text and team messaging, video meetings, and the world’s most advanced AI-powered contact center — all in one beautiful app. More than 7,000 innovative brands and millions of people use Dialpad to connect their teams from anywhere.
Visit Dialpad.com for more information and to request a demo.
About Rich Foreman
As founding CTO, Rich led the team that developed the CordicoShield / CordicoFire Wellness App. Cordico was honored with the Sacramento Innovation Award in 2021. After achieving a 7 digit ARR, Cordico was acquired by Lexipol in 2020. Rich has a BS in Industrial Engineering from the University of Washington, an MPA from Troy State University and was an officer in the U.S. Navy.
Rich co-authored his book, "Tap into the Mobile Economy." Rich's blog was listed in Top 20 Marketing Mobile Blogs of 2014. He has been featured on KCRA3, NEWS10, 1170 Tech AM PowerDrive, Business Radio Money 105.5, SiliconIndia, the Sacramento Business Journal, and the Sacramento Bee. Rich is also the Founding Director of the Sacramento Chapter of Startup Grind and served a term as Utility Commissioner for the City of Folsom. Rich is a regular contributor to TechWire.net and StartupSac.com. Rich was the Co-founder of Apptology which was named Small Business of the Year in 2014 by the Sacramento Asian Pacific Chamber.
