The Community Ideation Fund, part of Indianapolis-based Elevate Ventures, has invested in a former Major League Baseball pitcher and his concept of using big data to train baseball and softball pitchers. Although financial details were not disclosed, Steve Stemle says he aims to learn how to charge fees for using his software, a strategy known as Software-as-a-Service.
Stemle founded LoKator Pitching Academy in New Albany after playing for the Kansas City Royals. Stemle says LoKator technology measures pitch quality and reports data back that teams can use to train pitchers more efficiently and minimize arm injuries.
Lokator’s technical team is working to implement vision technology into the iOS LoKator Bullpen app as well as developing a web and mobile dashboard to display LoKator’s proprietary analytics.
Eligible Community Ideation Fund applicants include Indiana-based companies with headquarters in communities under a partnership with Elevate Ventures, and who have no more than $50,000 in trailing revenue over the past 12-month period.