It may not be time for March Madness just yet, but yesterday the Sacramento Kings released the names of the 16 startups selected to compete in this year’s Kings Capitalize event. Earlier this month, the Kings issued a call for applications for their 2nd annual Capitalize event. The intent of this year’s Capitalize, powered by Moneta Ventures, was again to find & feature four of the region’s most promising startups. The initial step in the competition was to select 16 startups from the applicants.

The selected 16 will now compete in a one-day pitchfest, where they will have an opportunity to impress a panel of judges consisting of local investors and technology executives. Just like March Madness, the top four teams will then advance and compete for the fan vote on Twitter from March 15 through March 22, when they will 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 a $10,000 prize package and the opportunity to pitch angel investors and have lunch with a Kings owner.

The 16 startup teams selected for the initial round are: