How can you create a sports innovation and entrepreneurship program?

Many sports innovation programs fail to deliver expected outcomes due to the lack of breath of subject matter knowledge surrounding the innovation itself. The depth of knowledge in the specifics of the innovation are almost always present. This knowledge specific to the innovation doesn’t guarantee a good outcome if it’s not balanced with the market needs, price elasticity of demand, existing competitors, distribution options, regulatory requirements and marketing/branding to name but a few success co-factors. The Harvard Business school has long identified that the transition from “inventor/innovator/founder” culture to a business and operationally aligned structure is often the reason these endeavors fail.

My view on creating a sports innovation and entrepreneurship program is that it involves working closely with experts, encouraging new ideas, and guiding aspiring entrepreneurs to bring innovation to the sports industry.

Initiating a sports innovation and entrepreneurship program demands pinpoint clarity on its objectives. Start by envisioning the transformative changes you aim to bring about: Is it about nurturing startups or enhancing athlete performance with new technologies? Who is this tailored for - grassroots talent, professional athletes, or business innovators? Will you prioritize measurable returns or intangible values like community building? By delving into these probing questions, you ensure the program is not just another initiative but a strategic move, embedded in purpose, and tailored to generate meaningful change.

As with any new creation after seeing an opportunity, it starts by creating a visual image of the outcome. The more specific one can get, the more vivid the image and clear the outcome is. The next step is where a shift in thinking must occur. Rather than thinking "how do I get there" or "what do we need to do to get there", locate your thinking from the vivid outcome you have created and work backwards in time from there, e.g, what are the actions, conversations that I/we have to have had, who has helped us along the way and when? As someone taught me: if you can see it, you can move it, when you can move it you can manage it to completion.

Setting up a sports entrepreneurship is challenging to a certain degree. Depending on your target audience, you have to make it affordable for the public. For example setting up a sports clinic/lab. It may be expensive to most however as a business you have to justify your price. And making it sure your services are a need instead of a want for example physiotherapy services. Hiring the right people is key for a successful business in the long term too. That's to the best of my knowledge.

Crafting the curriculum is pivotal. Begin with foundational elements: understanding market dynamics, spotting opportunities, and learning the entrepreneurial process in sports. Dive into sport-specific areas like athlete health tech, fan engagement innovations, or eco-friendly sports infrastructures. Ensure a blend of theory with real-world applications. Integrate interactive methodologies: perhaps a simulation game to develop a sports tech startup, or case studies on groundbreaking sports ventures. Infuse the curriculum with insights from industry stalwarts and innovators. Through a mix of hands-on projects and mentorship, ensure participants not only grasp the 'how-tos' but also the nuances and ethos of sports entrepreneurship.

Begin by identifying industry trailblazers who've carved unique paths in sports entrepreneurship or catalyzed noteworthy sports-tech advancements. Their experiential wisdom is invaluable. Supplement this by roping in academia specialists in modern sports business dynamics. The synergy between hands-on experts and theoreticians can spark richer dialogues. Introduce diversity by integrating professionals from strategy, tech, marketing, and even former athletes. This breadth of perspectives can drive holistic learning. Finally, instill a collaborative ethos in your team, transforming them from mere educators to catalysts, inspiring participants to challenge norms and bring their innovative visions to life.

Like any sports, a team based approach is the optimal way of achieving your desired outcomes. It's not about having the smartest or most experienced people at times, but having the team work the right mix of skill set and chemistry. People that have been in the field and experienced a degree of success is a plus, but having strong teachers is perhaps more important

The question of who you need on your team is crucial otherwise you get stuck in the domain of "how can I...?". Questioning who will expose knowledge gaps for the entrepreneur(s) and is a solid step in identifying who needs to be part of the team that has delivered the created outcome. Define roles (accountabilities) clearly and determine where experience is of immediate value and where learning of skills are more important.

Important element here is to mix the composition of your team: - Have experienced individuals with a large range of personal connections and industry know-how. - Have team members who understand the needs and culture of emerging audiences: 'GenZ' etc...

Start by understanding your program's core focus: is it tech-driven sports products or innovative business strategies? Based on this, tailor your selection criteria. For instance, if you're eyeing tech innovations, prioritize applicants with tech or design prowess. Instead of just relying on application forms, introduce an ideation challenge to see real-time problem-solving skills. This approach not only gauges participants' abilities but also their teamwork dynamics. Ensure diversity, as it fuels innovation. The ideal cohort should not just meet the criteria but be genuinely passionate about transforming the sports realm.

One useful way to select participants is the use of psychometric profiling and personality tests. I would then couple that with AI and tech as there are tools in this day and age that can give you deep insights. Finally, a clear selection process including having the right interview framework will ensure a comprehensive and thorough process

Before building your list you should invest resources in building meaningful connections that will serve your community. Such as Sports Brands, Investors, Mentors and complimentary services.

For a successful program, first, set a clear budget, factoring in unexpected costs. Choose a location that's both practical and inspiring. Ensure top-notch equipment and reliable tech, especially considering the digital shift. Prioritize essential materials without skimping on quality. For multi-day events, arrange comfortable accommodations and transport. Always anticipate challenges: have backup tech solutions and a contingency plan for emergencies or disputes.

The best way to do this is to have a community approach with collaboration at all levels. This will ensure a natural feedback loop which is important to have an iterative process that will ensure continuous improvement. Dynamic and interactive elements is the only way to go today. Without that the programme will surely die

Partnerships are very crucial , forging one with sports organisations, and other relevant stakeholders. These partnerships can be leveraged on for mentorship programs , internships and potential funding.

The New York Jets and Kean University could join forces to establish a Sports innovation platform. This initiative would blend the Jets' expertise and resources in the NFL with Kean University's academic prowess. Students would gain access to specialized courses in sports management, communication, technology, and entrepreneurship, mentored by Jets' executives and industry experts. They'd tackle real-world challenges in the sports realm, including fan engagement and sustainability. The program would also provide a platform for students to pitch entrepreneurial ideas and secure funding or partnerships. This collaboration would create a talent pipeline, fueling sports industry innovation and nurturing the next generation.

It’s all about creating raving fans and offering a unique approach to the industry. Our teams specializes in creating those moments