Nike Launches ‘Gadget Startup Accelerator’

In a bid to motivate the world into embracing a more ‘healthier’ lifestyle, Nike+ has taken it upon them to launch a whole new range of ‘Digital Fitness Gear’. What is ‘Digital Fitness Gear’, you ask. And, more importantly, what’s ‘Nike+’?

Nike Fuel Band

Nike+ was introduced a few years ago…2006 to be precise. It was Nike’s foray into the digital world, wherein, it gave fitness enthusiasts, the opportunity to keep a closer watch on their regime via. gadgets that recorded the amount of calories they burned per day. It started with a sensor that could be slipped into their shoes that could, in turn, be connected to their iPod.

Nike+ was born, and from there, they took it up a notch by introducing an array of similar devices. There was the ‘Nike+ Sports watch’ with the built-in GPS, the ‘Nike+ Running App.’, and the renowned ‘Nike+ Fuel Band’ that, by having it around your wrist all day, would track your complete regime, and record just how many ‘Fuel Points’ (a metric system followed by Nike that’s calculated on the basis of the amount of calories burned) you gained at the end of it. You also had the option to post your readings on Twitter or Facebook, and let the world know just how fit you are.

Nike has already made its mark in the ‘sports-and-fitness’ gear department. Going digital was just adding another feather to their cap. The success of Nike+, gave the company all the more inspiration to keep at it, till it converted people ‘the-world-over’ to get on board the ‘fitness train’. In this ‘obesity-ridden’ world that we live in now, Nike may just be on to something.

However, the company decided to not fly solo this time, but rather, gather around 10 young companies, put them on a mentorship program, and have them come up with new innovations under the category of ‘digital fitness gear’, thus encouraging companies all over to get on board with this technology and help create a healthier world.

In order to do this, Nike would have to rope in a partner to help with the funding, and that’s where ‘TechStars’ come in. TechStars is a start-up accelerator company who, with the help of a number of ‘venture capital firms’ and ‘angel investors’, give promising ‘newly-established’ companies, the funding that they require to develop their establishment.  Needless to say, only a handful are blessed by them. The only profit they would gain from Nikes proposal would be a 6% stake in each of the 10 ‘carefully-handpicked’ companies, and the satisfaction that comes with watching the seed they planted, steadily grow.

 So now, partner in place, the ‘Nike+ Gadget Startup Accelerator’, was official.

  • The 10 young organizations would spend 3 months in Portland, Oregon, which is just a short distance away from the Nike World Head Quarters.
  • They will be provided with a place to live and an office space.
  • The opportunity to work under the guidance of some brilliant minds like the ‘Foursquare’ Co-founder Mr. Naveen Selvadurai, the Nike Digital Sport Vice President Mr. Stefan Olander, Mr. Tim Ferriss, author of the best-selling book, ‘The Four-Hour Workweek’, and ‘TechStars’ founder and CEO Mr. David Cohen.
  • They will get to spend a day in the Nike World Headquarters in Beaverton, Oregon, and a day in Silicon Valley.
  • And, most importantly, the 10 organizations will be provided with the Nike Development Tools and Programs that helped bring about the original series of Nike+ gadgets.

The program commences in the mid of March 2013, and the application process is open till the 3rd of February. So if you are, in fact, the owner of a young establishment, and you think you have what it takes to meet the standards of such a distinguished organization, then by all means, get to enrolling stat. Who knows, you may just be the chosen one.

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