Local VC Firm Moneta Adds New Expertise, Resources to Contest Participants 16 Finalist Selected from Local Applicants, Will Pitch Their Company for a Cash Prize
Today, the Sacramento Kings announced the second year of Capitalize, the NBA’s first startup pitch contest showcasing local entrepreneurs. Moneta Ventures, an early-stage venture capital firm based in Folsom, California, is collaborating with the Kings to highlight the most promising innovators and companies of the Sacramento region, potentially launching their unique products into a global marketplace.
Beginning today, startups within 75 miles of Sacramento may submit applications for this unique contest. Visit Kings.com/Capitalize to begin the application process.
“The inaugural Capitalize contest highlighted the best and brightest innovators that come right from our community who are ready to compete on a global stage,” said Kings President Chris Granger. “We’re excited to see what projects rise during this year’s competition and grow Sacramento’s emerging innovation economy. It’s a unique way for us to use our robust background in tech to support our community’s entrepreneurs.”
Last year’s finalists have seen tremendous opportunities following the first NBA VC contest. Finalist California Safe Soil provides its innovative waste solution at the Kings new home, Golden 1 Center – the most environmentally friendly and technologically advanced arena in the world – and has expanded to an 80,000 square-foot facility to meet new client needs. Finalist Barobo received the 2016 Sacramento Regional Innovation Award for Hardware and Electronics and looks to partner with the Kings Foundation on a school STEM initiative.
“We are excited and proud to be working with the Sacramento Kings to continue to grow the Sacramento tech economy,” said Moneta Ventures Managing Partner Lokesh Sikaria. “As a fund focused on early-stage companies, the Moneta team hopes to add valuable insight to the Capitalize contest process.”
Capitalize is a two-round tournament where 16 local innovators will compete to be selected for a cash prize and lunch with an owner of the Sacramento Kings. Sixteen semi-finalists will be selected to participate in a one-day pitchfest, where they will have an opportunity to impress a panel of judges consisting of local investors and technology executives. These judges will select the top four companies to move on to the finals.
The four finalists will compete for the fan vote on Twitter from March 15 through March 22, when they will join the join the Kings and Moneta Ventures at Golden 1 Center for Tech Night on March 22. The winner will be announced and awarded a grand prize package.
For complete contest rules and applications visit, Kings.com/Capitalize.