August 16, 2016 – Toronto, ON – Woodbine Entertainment Group (WEG), iBoost and Ryerson University's Office of the Vice President, Research and Innovation today announced that they are partnering to launch a new initiative that will challenge Canadian start-ups, entrepreneurs, developers and students to use technology to help bring the traditional sport of Horse Racing to the next level. The program, called Horse Racing 3.0: Changing the Game, will seek new and innovative product solutions, to help drive sustainable growth and revenue within the horse racing industry.
"At Woodbine, we are continuously looking for ways to modernize our industry to ensure a sustainable future for Horse Racing in Ontario and gaming is a key piece of the equation," said Jim Lawson, CEO of WEG. "Our plan in leading the industry is to develop ways to reach and engage a younger demographic. We are excited to partner with Ryerson and work with Canadians pushing the boundaries of technology in traditional industries that help transform our sport for generations to come."
Kicking off on September 23, participants will engage in a 1.5 day long "Design Jam" where they will work with WEG staff and mentors to develop their initial ideas. Teams will then have three months to refine their idea into a commercially viable Proof of Concept. During this stage, teams will be asked to participate in bi-weekly workshops to meet with mentors and set growth milestones. Teams that meet their milestones will be invited to present their solutions to a panel of judges for a chance to be selected as the top team.
During the program participants will receive dedicated workspace and work alongside mentors, as well as WEG's innovation team to help drive their product forward. Teams will be given access to data from Woodbine to help prototype their developments, as well as briefings to understand the industry, challenges and opportunities.
"This is a unique opportunity for people to innovate the traditional sport of Horse Racing and work with mentors over an extended period of time to develop their ideas, as opposed to the typical 1-3 day hackathon," said John MacRitchie, Senior Director, Business Development and Strategic Planning at Ryerson. "Horse Racing 3.0: Changing the Game is a program dedicated to providing the time and support required in the prototyping phase to set people up for optimal success. We are excited to be working with Woodbine to bring this program to life."
A total of $21,000 in cash prizes will be divided among the top three teams along with an eight-month enrollment in Ryerson's iBoost incubation zone. Teams will also have the opportunity to make connections with prospective customers, partners, industry experts and investors and potentially enter into a pilot agreement with WEG.
"Our goal at iBoost is to connect the best talent with industry challenges," said Dr. Rafik Loutfy, Director of the Centre for Engineering Innovation and Entrepreneurship at Ryerson. "This opportunity will help entrepreneurs develop creative solutions that would be relevant for the horse-racing industry and accelerate their time to market."
More information, including application details and eligibility, is available at
www.hr3.ca. The deadline for applications is September 24, 2016.
About Woodbine Entertainment Group
With roots dating back to 1881, Woodbine Entertainment Group is the largest horse racing operator in Canada, showcasing world-renowned horse racing at Woodbine Racetrack (Toronto), home of the iconic Queen's Plate, and Mohawk Racetrack (Milton), host of the storied Pepsi North America Cup. WEG is the leading member of the Standardbred Alliance and the single operator of Teletheatres and Account Wagering, available through www.HPIbet.com, in Ontario. WEG also operates HPItv, a CRTC licensed digital television channel that broadcasts racing into homes across Canada. Woodbine Entertainment is designated as a Caring Company with Imagine Canada, and gives back through WEGcares Community Investment Program.
About Office of the Vice President of Research and Innovation at Ryerson University
Ryerson University' Office of the Vice President, Research and Innovation supports scholarly, research and creative (SRC) activity and innovation across Ryerson. With nearly 200 local, national and global academic, community and industry partners, our faculty work to drive economic growth and improve the lives of Canadians in areas including digital media and technology, energy and sustainability, and technological and industrial innovation, to name a few. In the last two years, the university has experienced dramatic growth in research and innovation, with almost 40 per cent increase in funding and was named the top undergraduate research university of the year by Research InfoSource in 2014. With innovation at the core of its research mandate, Ryerson houses over 125 centres, institutes and innovation zones including the DMZ, the top-rated university-based incubator in North America.
About iBoost
Established in 2015 by the Faculty of Engineering & Architectural Science at Ryerson University, iBoost is a customer centric technology startup incubator at Ryerson University that focuses on capacity building at the entrepreneurial, venture investor and policy levels of the innovation ecosystem. iBoost provides a collaborative environment dedicated to educating and supporting entrepreneurs throughout their journey from incubation to acceleration and beyond.
John Siscos