I recently attended the recruiting tour for the Nike+ Accelerator powered by TechStars NYC and I thought it might be beneficial to write up some info and thoughts for those interested in the program. For those who don’t know, Nike has launched a startup accelerator in partnership with TechStars NYC to find startups that can leverage access to the Nike+ Fuel data to build a startup or complement a startups data. The goal is to get some initial seed money, go through the TechStars program and build a business that may be acquired by Nike or simply exist as its own business. Read on for more details.
Jason Calcanis did an interview with David Cohen, Founder and CEO of TechStars about the Nike+ Accelerator as well as a host of other topics. It’s an excellent resource for learning more about the program and a little behind the scenes stuff.Use this YouTube link for mobile viewing.
After a couple demos from some people in the personal health and analytics space, Nike came out to present. The company did a great job of explaining Nike’s mission which is to inspire athletes*. The term “athletes” at Nike always comes with an asterix because the company defines an athlete as every human. To drive this point home, they showed a series of videos from the Nike Fuel and “Find Your Greatness” campaigns. Check out the videos:
Nike: Find Your Greatness. Click this link for mobile viewing.
Nike: Find Your Greatness. — Jogger. Click this link for mobile viewing.
Nike+ FuelBand Presents: Counts. Click this link for mobile viewing.
After some inspirational videos from Nike, TechStars came out to talk a little about what they bring to the table and some of the finer details of the program. According to Dave Drach, VP of Business Development at TechStars, the deal is that Nike provides unique access to the Nike+ data and TechStars is in it for $20K and 6% on the cap table. It’s Nike’s money so it’s an amazing deal for TechStars. In order to get accepted to the program, you go through the same process of applying to the Nike+ Accelerator as you would for TechStars. So it’s a pretty competitive process. If you’re accepted to the program, you’ll be working out of Portland, Oregon, a short drive from the Nike World Headquarters.
Overall, it looks like a great program for any startups looking to work closely with Nike on a health industry startup. TechStars brings their network to the table and Nike brings the API. All you have to do is figure out how to build a billion dollar business from there. Easy peasy lemon squeezy.