Tucson, AZ — The goal of the Innovators’ Circle is to help nurture and bring new technology and business concepts to a sport steeped in tradition. And as far as the winners of last year’s inaugural competition are concerned, the Innovators’ Circle pitch competition arrived at just the right moment.
“It's a fantastic initiative and the sort of forum that’s essential for the future growth of racing and wagering,” said Shaun Pyrah, director of strategy for Six Faces, which developed Swopstakes. “The experience and exposure at last year’s event was key to re-starting our launch plans.”
“Wagering is far from an easy market for start-ups to crack,” added Pyrah. “Ironically, increased competitive forces and bottom-line pressure see the big players become increasingly risk-averse - focusing on cost savings and scale.”
“Helping new business concepts and technology in horse racing gain exposure is exactly what we had in mind when we created the Innovators’ Circle,” said Hai Ng, one of the event producers.
Pyrah also said winning the Innovators’ Circle competition gave Swopstakes instant bona fides in the market.
“Innovators’ Circle was hugely encouraging in terms of validating Swopstakes,” Pyrah said. “It also rammed home the value of coming to market; proving the market and business model.”
In the eight months following Swopstakes’ Innovators’ Circle victory, the company gained deals and investors and is poised to build a global business that could include Australia, the U.K. and potentially North America.
It’s time to start looking for this year’s version of the Swopstakes success story. Like last year, the 2016 winner of the Shark Tank-like competition will earn $15,000 in cash. Finalists also receive space at the 2016 Global Symposium on Racing & Gaming, Dec. 5-7 in Tucson, Arizona, to showcase their product or idea to the racing industry.
Last year’s contest received more than 85 entries from around the globe; entries for this year's competition are already being accepted. See www.innovateracing.com for complete rules of the contest and secure your chance to innovate racing and win $15,000.
Visit the conference website at ua-rtip.org/symposium to register online and stay up-to-date on the agenda and events as they are announced.
Conference news on twitter: #azsym16