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Story by Alan Snel Photos by J. Tyge O’Donnell
There was a time when the NBA used the NBA Summer League to develop broadcast technologies and special technology cameras that would offer fans a new look at its product.
But now that tech strategy has morphed into a new business strategy of picking five technology startups with a can-do attitude and a product that can help the NBA and using the Vegas Summer League as a platform for the companies to unveil their R&D projects.
In 2022, the world’s major basketball league debuted its NBA Launchpad and LVSportsBiz.com caught up Tuesday night with a company that told the world two years ago about its technology product that is designed to prevent ankle injuries.
That company is called BetterGuard, which is now 25 workers strong manufacturing ankle braces that are compression socks that function as a “seatbelt for the ankle.” The product is a braking system to prevent an ankle from rolling, “acting like another ligament,” BetterGuard CEO Tony Verutti told LVSportsBiz.com Tuesday night after 2024 Launchpad presentations by five new companies.
From that modest start two years ago, BetterGuard’s ankle brace is used by players on 15 of the NBA’s 30 clubs and on 25-30 European clubs, said Verutti and EVP for Marketing Eric Barrett.
BetterGuard is also in talks with teams from the NFL, Major League Baseball and Major League Soccer.
In 2023, the first version of the ankle brace was created and now in 2024 a 2.0 version will be coming out in two weeks, Barrett said.
The product retails for $199.
A player who uses the product is Bulls’ rookie Matas Buzelis, who wears the ankle support technology on both ankles.
The NBA picks five companies from about 200 that apply, said the NBA’s Tom Ryan, who oversees the Launchpad program.
The NBA’s criteria for picking the five finalists that are highlighted at the NBA Summer League in Las Vegas rests with one central question: Can the company make an impact?
One company the NBA has its eyes on is SkillCorner, which extracts stats from videos and performs analytics, Ryan said.
The league likes investing in these early-stage tech companies that furnish a product or service that can enhance the NBA and its players and fans, he said.