Shareholders,
Happy 4th of July. We are excited to announce that we have built and launched the 360 Sports Pro-Athlete Business Accelerator: 2020 Fund, a new506 (c) Private Equity Offering.
Because of the business model’s uniqueness, our management team and I just finished writing the final draft of the 506 (c) Private Placement Memorandum (PPM) and accompanying PowerPoint presentation which describes the 2020 Fund. The presentation has been made available on our investor’s portal at 360SportsX.com.
To date, we have shared the PPM and presentation with dozens of stakeholders include the athletes in our accelerator, lawyers working on behalf of the athletes, private bankers, investors and key personnel within 360.
The purpose of the 2020 Fund is to launch the 360 Sports, Inc. Pro-Athlete Business Accelerator, our new business line that provides family-style back-office solutions to active and retired professional athletes who are, or aspire to be entrepreneurs and want to scale or start their own businesses.
“What is a Business Accelerator and how does it differ from a Business Incubator?” you ask…
Business accelerators, as well as business incubators, both provide advice, mentoring, and various forms of support to entrepreneurs whose businesses are in the startup phase. The key difference between the two is that business accelerators, as the name suggests, compress the timescale for starting up a company by operating as a type of business boot camp. The acceleration period is short and intense aiming to turn the business ideas into prototypes or products ready for market in a few months.
The business incubation period is longer as an incubator aims to nurture businesses in their startup phase allowing entrepreneurs to develop their companies at their own pace. The sponsoring organizations involved with both types of programs provide their expertise and support in return for an equity stake in the new businesses.
I’m grateful that professional athletes such as Adrian Peterson, Evander Kane, and Joe Unitas, have already joined the 360 Sports Pro-Athlete Business Accelerator program – and interest in the business accelerator is growing every day in the professional sports world.
Because of this, we are offering you the opportunity to increase their equity ownership of 360 Sports by logging in to your shareholder profile at 360SportsX.com. If you haven’t logged in, please follow the instructions to reset your password and update your information.