Three division finalists gathered last night for their moment of truth in this year’s Minnesota Cup business competition.
Formed in and led by cofounder/ CEO Teague Orgeman, the sportstech venture was formed by six core partners in 2015 to bring fantasy sports into the game of soccer, making it more “active and exciting.”
A finalist interview published earlier this month, Orgeman says: “We’re taking soccer from a passive to active experience…we’re relatively new and just launched August 1st in the English Premier League, with the goal of expansion in early 2018.”
The iOS app has launched a free version and since experienced 11,000 installs in three season weeks, users in 15 countries, and thousands of lineups/contest/subs. Eventually they will be adding an ‘operating fee’ of 10%, which Orgeman insists is standard for the industry.
“The opportunity for us is to scale in different leagues all across the world, considering how internationally distributed the audience and market for soccer is. We want to be the dominant player.”
The victory runs contrary to how our audience saw things in an unscientific vote/poll for their favorite to win, in which case Starting11 did not have the same appeal.
With this win, Orgeman & co. have earned $30k no-strings-attached cash and next be competing against the other seven division finalists for their shot at a $50k grand prize during Twin Cities Startup Week, on October 9th.
“The only thing I’d add is that we were honored to be in the same company with the high tech division semifinalists, and especially the finalists, Extempore and Team Genius, both of whom would have been deserving winners. And that we’re very grateful to the MN Cup and its judges for this opportunity.”