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24 Mar 2023
NBA's Orlando Magic and Lake Nona sign health tech partnership
By Tom Walker
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Lead Lake Nona sources, funds and drives the growth of early-stage sports and health tech startups
Photo: Shutterstock/Cast Of Thousands
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Lead Lake Nona, a company that sources, funds and drives the growth of early-stage sports and health tech startups globally, has signed a partnership with US NBA franchise, Orlando Magic, that will see the two organisations work together to develop sports and health tech solutions.
Orlando Magic will serve as an innovation partner to Lead Lake Nona, enabling the firm’s portfolio companies to test, learn, iterate, and scale their products and services.
As part of the agreement, Lead Lake Nona will share its expertise in sports and health technology innovation, deep knowledge base and intel, and offer access to its portfolio of companies whose focus is on evolving athlete health and performance.
Lead Lake Nona will also provide Orland Magic with industry intelligence and act as a venture arm that supports the development of Magic’s innovation initiatives.
Additionally, the Lead Lake Nona innovation hub will serve as the host sponsor for the Orlando Magic e-sports gaming team, by providing a training and competition location.
The move is a continuation of Orlando Magic's ventures into tech. In 2014, it opened the first design thinking-based innovation lab in the NBA. In 2015, the team was the first in the NBA to adopt mobile technology allowing fans to utilise the Magic app to personalise their experience at the Amway Center.
Over the past two years the team has also hosted the Orlando Magic Innovation Challenge, a multi-day event where developers, startup enthusiasts and sports business professionals have the opportunity to pitch new ideas and hear from some of the top minds in the sports technology field.
In 2022, Magic opened the Advent Health Training Center, which serves as its training site – as well as a destination sports medicine hub for Central Florida.
Christoph Sonnen, CEO and Co-Founder of Lead, told Fit Tech Global: "We're excited about the partnership with the Orlando Magic and to be able to leverage a testing ground for real time feedback that will drive new opportunities for innovation in Orlando.
“Our mission is to revolutionise the sports and health technology space through game-changing innovation, and we’re looking forward to working together with the Magic to accelerate the growth of the world-class tech hub in Orlando."
Lead Lake Nona is a joint venture between Lead Sports and Health Tech Partners – a sports and health tech investment platform – and real estate developer, Tavistock, an international private investment organisation. It operates from Lake Nona, Orlando’s living-lab community.
Jay Riola, Executive VP of strategy and innovation, said: "Innovation is one of our core values at the Magic, as is our belief in the power of collaboration and creative thinking.
"With Lead's unparalleled expertise in sports and health tech innovation this partnership will provide our organisation and fans the ability to experience the latest developments in the tech space and will also offer our organisation an even greater ability to propel innovation and emerging startups in Orlando.”
Lead is running – The Lead Toyoshima Bootcamp – in Tokyo from 28 March to 8 April for health and sport tech startups.
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