SBC News Voice of the Sports Betting Industry
Targeting future market growth and product innovation, William Hill is set to open strategic start-up accelerators in London and Tel Aviv. Accelerators take equity stakes in early stage start-ups and venture ideas in exchange for help with capital, resources and mentorship.
William Hill is set to offer eight companies an investment of £25,000 ($40,000) if they choose to join the bookmaker’s accelerator program. The operator will also help the venture by offering office space for period of 12 weeks.
The bookmaker’s accelerator program will be overseen by Crispin Nieboer Director of Corporate Development and Innovation at William Hill. Speaking to technology news source Nieboer commented on the project “This is about rapidly converting early stage companies into something valuable,”
William Hill has concentrated its product innovation in the Shoreditch district of London, a technology centre popular with technology start-ups.
In May Crispin Nieboer detailed that the operator would look to launch up to ten new product innovations every year as William Hill looks to differentiate its services in a saturated sports betting market.
Speaking in May to TheDrum.com Nieboer stated
“The dangers with businesses like betting and gaming is that there is a tendency to rest on your laurels, there is a regulatory hurdle, and strong brand awareness for some of the encumbents who have been here for years
“But there is a danger with that because if you sit back and rest on your laurels other people in the technology worlds in other industries will come and eat your lunch. It’s an historic thing; moving from retail high strret to online, from mobile, social and smartwatch – some of our competitors are respoding to that but others just aren’t
