The National Football League Player’s Association [NFLPA]
(American Football, that is) in the United States has announced a fascinating
collaboration called “OneTeam Collective” between the NFLPA, NFL athletes, venture capitalists, and Harvard
University, among others, in the form of something like an
incubator. Apparently, the gist of the
idea is to allow easy licensing and exploitation of IP rights of NFL athletes
by start-ups. The NFLPA basically holds
the IP rights of NFL players and now those rights will be available to early
stage companies, as described in Tech Crunch in "NFL Players Association Is Launching An Accelerator to Trade IP Rights For Equity."
This raises a host of opportunities to utilize those IP rights in, perhaps, new
ways.
Here is a description of some of the aspects of the program:
The OneTeam Collective will consider business
ventures and product ideas related to fan engagement, data analytics,
performance and training, mobile fitness, sports nutrition, consumer
products, fantasy sports, gaming, wearable technology, new media, as
well as virtual and augmented reality.
The OneTeam Collective will be the
first program providing rights to
sports-related intellectual property, highlighted by the NFLPA’s exclusive
group licensing rights and unparalleled access to more than 2,000 current NFL
players.
The well-rounded founding portfolio will consist
of KPCB and Madrona Venture Group providing consulting
services and potential funding; Harvard Innovation Lab providing access to
a campus environment focused on entrepreneurship for student-led events and
competitions, such as hackathons; and Intel providing valuable input from
a global innovative leader, as well as potential
funding. LeadDog Marketing Group–an award-winning integrated,
experiential marketing agency–will provide sports marketing and strategic
planning resources. The Sports Innovation Lab will provide additional
support to the OneTeam Collective and its portfolio companies.
I do hope that the eventual funding from these ventures will
inure to the benefit of the players. The
troubling stories concerning the physical and mental impact of concussions in the
sport is a serious concern. Moreover,
the NFL has long been known as “Not For Long:” the average player has a very
short career span and there is the very sad (developing) story concerning the recent death
of Rashaan Salaam. The NFLPA press release seems to suggest that there could be
many opportunities developed just from the close collaboration from the interested
parties, perhaps even ventures that would need additional player
endorsement.
If this idea hasn’t been adopted in other countries, it looks like one to closely watch and perhaps emulate. A potential underexploited resource—the IP—put in the position to be widely utilized for potential benefit of . . . hopefully the players. The
press release provides some hope:
Another unique element of the OneTeam Collective is its
Athlete Advisory Board. These individuals will engage with founding partners
and provide strategic input on portfolio companies and new prospects. Athletes
will benefit by having the ability to directly interact with founding partners
and portfolio companies, in order to establish a professional network, while
also exploring business and career opportunities. The inaugural members of the
board will consist of both active and former NFL players, including
Kelvin Beachum, Mark Herzlich, Dhani Jones,
Isaiah Kacyvenski, Ryan Nece, and Russell Okung.
"Players, both past and present, have so much to offer -
but never in a way like this," said former NFL Player and current Managing
Partner of Qey Capital and Investor on CNBC's Adventure
Capitalist Dhani Jones. "The OneTeam Collective is
going to help develop and promote concepts and products that were previously
just left to survive on their own. With this accelerator in place, and with
players helping power it, companies can get off the ground and into people's
lives. It's a great feeling to be involved in something of this
magnitude."
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Posted By Mike Mireles to
IP finance on 12/08/2016 01:18:00 am