Accelerator Kicks-Off with 2018 AR/VR Pitch-Fest on August 29 at Golden 1 Center
Sacramento, August 1, 2018 — The Capital Region AR VR Accelerator announced today strategic collaborations with the Sacramento Kings, McClatchy New Ventures Lab, Clark Pacific, and Moneta Ventures to spearhead innovation and business growth in the exploding augmented reality and virtual reality sectors. Digital media, creative storytelling, video technology, building and construction, and sports/entertainment are all growing segments of AR and VR that play to strengths of the Sacramento Kings, McClatchy New Ventures Lab, and Clark Pacific, while early-stage venture capital from venture capital funds like Moneta Ventures fuels the rapid growth of entrepreneurial ventures. Collectively, the collaboration intends to help create an environment and pathway for success for start-up and early-stage AR and VR companies, particularly for those interested in locating to or establishing a presence in the Capital region.
The first component of the collaboration will be the 2018 AR/VR Pitch-Fest, occurring on August 29 at the world’s most sustainable and technologically advanced arena, Golden 1 Center – home of the Sacramento Kings, located in the heart of downtown Sacramento. The event is part of the recruitment process for a Fall 2018 Accelerator cohort that will include between 5 and 10 start-up and early-stage AR and VR companies.
“As early augmented and virtual reality adopters, we understand the power that immersive technology can have with our fans and guests,” said Sacramento Kings Chief Technology Officer and Pitch-Fest judge Ryan Montoya. “We’re looking forward to showcasing emerging innovations at Golden 1 Center, supporting the development of new tech, and providing our insight along the way.”
“We often talk about immersive storytelling as a part of journalism’s future, but there’s no reason it can’t be in the present. Accelerators like this push the medium forward with better technology, distribution and monetization models that are now within reach,” stated Meghan Sims, Head of McClatchy New Ventures Lab and Director of Strategic Video Initiatives, McClatchy.
Lokesh Sikaria, Founder and Managing Partner at Moneta Ventures, said “We are excited to see the unique and innovative businesses that emerge from the Capital Region AR VR Accelerator. With AR/VR predicted to be a $50B+ industry in the next 3 years, the accelerator is poised to graduate companies into a rising tide of investment and growth in the industry. Moneta Ventures looks forward to assisting these entrepreneurs in founding disruptive businesses and establishing the Sacramento region as a strong hub of innovation in this space.”
2018 AR/VR Pitch-Fest on August 29
The 2018 AR/VR Pitch-Fest will feature presentations by up to 20 start-up and early-stage augmented reality or virtual reality companies to panels of judges representing angel investors, venture capitalists, regional and major corporations, health care institutions and governmental entities who have an interest in the AR/VR industry space in a variety of industry verticals. The top presenting company will gain entry into the 2018 cohort of the Capital Region AR VR Accelerator and be featured at the first home game of the Sacramento Kings 2018-19 season. Companies featured at the Pitch-Fest will learn more about the details of the Fall Accelerator and have the ability to interact with members of the Selection Committee, investors, and mentor teams and advisors which will give them a leg up on the selection process. Representatives from the Sacramento Kings, McClatchy New Ventures Lab, Clark Pacific, and Moneta Ventures will serve as panelists and judges at Pitch-Fest and be part of the Selection Committee for the Capital Region AR VR Accelerator.
The Pitch-Fest will also include panels of industry experts who will talk about hot trends in Augmented Reality and Virtual Reality and provide insights on what lies ahead in the remainder of 2018 and 2019.
How to be a Presenting Company at the AR VR Pitch-Fest
AR and VR start-up companies interested in being considered to be a presenting company at the AR VR Pitch-Fest should submit an executive summary and/or fundraising deck via email to firstname.lastname@example.org or fill out the online application for the Accelerator at the web address previously noted.
AR VR Accelerator – 2018 Fall Cohort
The Capital Region AR VR Accelerator is an 11-week intensive program for start-up and early-stage VR and AR companies. The Accelerator program is unique in that it provides a blend of on-site and virtual components, an infusion of capital, custom-tailored mentor teams, a focus on creation of a mutually-aligned milestone plan for each selected company, and a primary emphasis on growing key influencer relationships (investors, team and board members, customers, advisors/mentors, strategic partners and media representatives) that can directly accelerate success in achieving business objectives. In addition to serving on the cohort Selection Committee, representatives from the Sacramento Kings, McClatchy New Ventures Lab, Clark Pacific and Moneta Ventures will participate as guest faculty, mentors or advisors of cohort companies who are focused on their areas of corporate business development and/or investment interests.
About McClatchy New Ventures Lab
McClatchy New Ventures Lab is exploring what’s next in visual nonfiction storytelling and emerging technologies like augmented reality, virtual reality, mixed reality and 360 video. It is part of McClatchy, a leading local news media company with 30 newsrooms across the country including its flagship, The Sacramento Bee.
About the Sacramento Kings
In 1985, the NBA’s Sacramento Kings moved to California’s capital city, changing the region permanently. Today, the Kings continue their mission to profoundly impact the Sacramento region on- and off-the-court. When technologist and entrepreneur Vivek Ranadivé purchased the team in 2013, he committed to building a world-class arena in Sacramento. Golden 1 Center – opened in 2016 – is now recognized as the world’s most technologically advanced and sustainable arena in the world. Through Golden 1 Center and a $1 billion investment in the community, Sacramento is seeing dynamic economic growth, a revitalization in the downtown, and newfound energy shaping the next great American city. Recently, the organization has been recognized as Fast Company’s “Most Innovative Company in Sports,” owners of Sports Business Journal’s “Facility of the Year,” and leaders in sustainability by the Natural Resource Defense Council, Green Sports Alliance and the Huffington Post.
About Clark Pacific
Based in West Sacramento, Clark Pacific designs, manufactures and constructs prefabricated and modular building systems, bridging the gap between construction and manufacturing.
About Moneta Ventures
Moneta Ventures invests in early-stage companies in the enterprise technology, healthcare, and internet/consumer application sectors, including an interest in AR and VR. The fund’s plan is to deploy 70% of its investable capital in companies headquartered in Sacramento and Northern California.