The Sacramento Kings have kicked off their annual Capitalize startup pitch competition event to find and feature promising startups. In the competition, regional startups can apply to compete to win prize money. Startups also gain valuable publicity, receive mentorship, and gain opportunities and exposure to funders who may be able to help fund their business.

This year’s Capitalize will feature an expanded format with the platform providing two new sectors with support in capacity building, connections, and pilot opportunities. The three Capitalize contests will include:

  • Capitalize: Technology – showcasing local technology entrepreneurs and innovators from the region;
  • Capitalize: Food – showcasing innovative food entrepreneurs and concepts; and
  • Capitalize: Innovation – showcasing game-changing solutions from entrepreneurs around the world with the goal of advancing key strategic priorities identified by the Kings.

The competition’s first contest will be Capitalize: Technology, presented by Dialpad, the world’s most advanced business communications company. Applications are now open to startups located within 75 miles of Sacramento at Kings.com/Capitalize. Applications close on Thursday, February 2 at 11:59 p.m.

Capitalize: Technology takes a nod from the annual NCAA basketball tournament bracket. Applicants will be narrowed down to the “Select 16” on February 6. The “Top 8” will then be announced on February 10 and will receive additional coaching as they prepare for Pitch Day on March 1. At Pitch Day, a panel of successful entrepreneurs, executives and investors will judge the “Top 8’s” pitches and select the “4 Finalists.”

The “4 Finalists” will create pitch videos that will be displayed on Kings.com/Capitalize and will be used for fan voting via Twitter. Fans will have the opportunity to cast a vote starting March 2 until halftime of Kings game on March 24. The judges’ votes, along with fan votes, will be tallied and the Capitalize grand prize winner will be announced during the game. In addition, the second and third place winners will be awarded a prize of $3,000 and $1,500, respectively.

The winner of the competition will be announced during Tech Night on March 24 as the Kings take on the Phoenix Suns and will receive a $10,000 cash prize towards the development of their startup and three years of access to Dialpad communication services.

“The Kings are proud to showcase innovative entrepreneurs in the Sacramento region and beyond through our groundbreaking Capitalize competition,” said Sacramento Kings President of Business Operations John Rinehart. “We are thrilled to expand the Capitalize platform to additional sectors, providing more resources and mentorship opportunities to the next generation of creators and trailblazers.”

Last year, EyeRate, a rating platform that pays service employees cash when they get mentioned in online reviews and social media content, was crowned the winner of the 2022 Capitalize competition.

 “Kings Capitalize was one of the most energizing events we have participated in,” said EyeRate CEO Raymond Weisberg. “The level of talent from the founders and teams, in the competition and from Sacramento, was inspiring to see. The exposure we gained from the event has led to rapid traction with new team members, partnership opportunities, and potential investors. We are very thankful to the Kings organization, Judges, and the Startup Community who put effort into making this a memorable experience. Best wishes to all companies that are participating in 2023 and congrats to this year’s startup “Beam Team”!”

Since the inaugural launch of Capitalize in 2016, hundreds of applicants from around the area have submitted their business ideas to be considered in this contest, with many expressing how valuable the contest has been for the growth of their emerging businesses. The Capitalize: Food and Capitalize: Innovation contests will launch later this year.

For more information and details on how to enter, visit Kings.com/Capitalize.