A local firm has capitalized on the Kings' annual contest for startups.
Protxx was announced as the winner of the team's "Capitalize" event. Powered by the Sacramento Urban Technology Lab, its the NBA's only crowdsourced business tournament.
“We look forward to working with Protxx as they take the next steps in their business,” Ryan Montoya, the Kings' chief technology officer, said in a release. “The third year of Capitalize was an incredible success that saw many cutting-edge inventions and business models, and we look forward to continuing to invest in local startups.”
According to a description from the Kings, the Rocklin-based business makes a wearable medical device engineered to reduce the risks and severity of head impact injuries among athletes. Protxx revolutionizes how head injuries are identified, assessed and treated to minimize long-term effects.
"The Capitalize contest was a world-class experience that exposed us to a large audience and really leveraged the innovation ecosystem in Sacramento," said Rick Spencer, Protxx's chief revenue officer. "The Kings selected some great companies. We were truly inspired, and it really required us to be creative to expand our ideas. Also, as we prepare to launch our large athletic pilot in Sacramento, we have benefited from leveraging the Capitalize brand in our messaging. This is only possible because the Kings have built tremendous support in the community."
Protxx was selected over three other finalists: Cognivive, Highlands Power and HomeZada. The final four presented pitch videos in hopes of being selected. Below is Protxx's submission.
Protxx received $10,000 and will also get consulting services provided by Countsy and future opportunities to pitch to leading angel investors, according to the Kings' release.
When this year's contest began Feb. 12, there were 75 applicants. The winner was determined through fan voting on Twitter and at the arena March 29, when the Kings lost to the Indiana Pacers, and a panel of seven judges.
The winner was originally set to be announced March 22, when the Kings hosted the Atlanta Hawks on Tech Night, but protests outside Golden 1 Center put the arena on lockdown, and only about 2,400 fans were in attendance for the game.
For more information on the contest, visit Kings.com/Capitalize.