Innovators’ Circle, inspired by the TV show Shark Tank, was created to bring new technology and business concepts to the horse racing industry.
The process of bringing innovation to a sport steeped in tradition is challenging; Innovators’ Circle creates an environment to overcome those obstacles.
The cash prize for this year's competition is guaranteed at $15,000. Finalists also receive space at the 2016 Global Symposium on Racing & Gaming, Dec. 5-7 in Tucson, Arizona, to showcase their product or idea to the racing industry.
Last year’s contest attracted more than 85 entries from five continents. Four finalists from the initial pool of applicants made their pitch to the judges at the Global Symposium on Racing & Gaming. The winner received $15,000. Another earned $1,000 based on an audience vote. All received significant exposure and access to horse racing industry executives from around the globe.
The contest creators are committed to reaching out to both people within horse racing and those outside the industry. The website, InnovateRacing.com, provides background information and links to industry resources.
“The goal is to cast as wide a net as possible to bring in new ideas,” said Hai Ng, who, along with the University of Arizona’s Race Track Industry Program produces the event.
“We know there are a lot of fresh ideas out there for horse racing,” said Doug Reed, director of the RTIP. “We want to help make sure those ideas get a chance to be heard.”
For more details about entering the contest, visit www.innovateracing.com.