Bill Walton. Photo: Wellhausen
A wise man once said, “When you hear hoof beats you think horses, not zebras.” In the same vein, when you hear NBA Hall of Famer Bill Walton’s name, it’s inextricably linked to basketball, not action sports. But that correlation is beginning to change in some circles. Walton—who spent more than 30 combined years on the court as a player and commentator before serious orthopedic injuries sidelined his career—has refocused his energy toward giving back to the business side of sports.
TransWorld Business sat down with Walton in late October to discuss his new position as executive chairman of San Diego Sports Innovators (SDSI). The conversation flowed from business insights he gained over a long, successful career in professional sports media to the details of battling severe health issues, recently speaking in front of Congress, and his love of The Grateful Dead. In this exclusive interview, Walton recounts what a long, strange trip it’s been and explains why he’s more excited than ever to be involved with sports—particularly action sports.
What is San Diego Sports Innovators [SDSI]?
SDSI is a business accelerator that connects and drives the growth of San Diego’s vibrant sports economy by offering innovative programs and services for start-ups, mature companies, and service providers.
It [SDSI] is the newest division of Connect, which is a non-profit trade organization that has 25 years of experience in helping the business culture and economy in San Diego grow. Its purpose is to help these three tiers of the business economy.
For young entrepreneurs, we offer education, mentoring, and leadership, but ultimately we prepare them to access the capital needed for growth.
The mature businesses [we work with] are established, but always need help. We act as policy advocates for their business issues, we expose them to the newest technology and best talent available, and we work with them on their best business practice collaborations.
Service providers—banks, law firms, insurance companies, accounting firms, et cetera—all play an integral role in making business deals flow. We bring them in to make it all work.
We help companies expand the scope of their dream, which is what Bob Dylan did for all of us years and years ago.
How did Connect get started?
Connect started in conjunction with UCSD. There were six entrepreneurs in La Jolla who realized that there was an incredible amount of technology, science, engineering, and ideas inside UCSD, but in many cases there wasn’t enough business acumen to take all that ingenuity and commercialize it. So, Connect sparked 25 years ago. Since its inception, Connect has helped to start more than 2,000 companies and raise hundreds of millions of dollars in start-up capital.
What’s the connection between Connect and SDSI?
SDSI is a division of Connect. It’s based on several incredibly successful models of organizations that started as part of Connect but are now separate entities. Its job is to organize along the Connect model and follow the path to success that biotech and wireless companies have experienced [through Connect] by applying that to the 600-plus companies here in San Diego involved in sports innovation, new technologies, and manufacturing—anything that has to do with sports. We cover every sport; you name it, we work with them.
How did you become involved with these organizations?
I am recovering from the most serious orthopedic health crisis of my life. My spine failed me, and I had a major reconstructive repair of my spine. I had the greatest life in the world, and then I had nothing. I was on the floor and couldn’t move; I had a life that wasn’t worth living.
Then I connected with a doctor named Steve Garfin, who was working with a company called NuVasive on advancing spine surgeries. I ended up having one of those surgeries, and I got a second chance to play the game of life. As I was recuperating from that, I realized that I needed a new life. I decided that my energies were going to be focused on the things I’m passionate about: San Diego, business, and sport. So I went to my older brother, Bruce, who played in the NFL and afterward became a very successful entrepreneur here in San Diego. I’ve lived here [San Diego] my entire life, but I’ve never really done any business here … He introduced me to Ted Roth, who owns Roth Capital. Ted Roth introduced me to his older brother, Duane Roth, who is the CEO of Connect. It was the perfect connection and, long story short, now I’m the executive chairman of SDSI.
How can companies become involved?
They just need to contact us. We take these companies in and get them involved in our Springboard program. Connect has more than 2,000 Entrepreneurs In Residence [EIR]. These are volunteers that come in and give back to young companies that are starting up. It’s a very special program. Our goal is to take companies from their initial level to becoming major players. We want to help create the next Calloway, Nike, Billabong, Hurley, and the next Oakley. That’s what we do…We do not charge service fees. Our services are completely free.
What feeds the program monetarily?
Obviously we’re an organization and have expenses. The funding for Connect comes from the mature companies and service providers. Companies like Qualcomm, Pfizer, Sony, and Verizon are all members of Connect because they realize the importance of the next generation. They were all start-ups once themselves, but now, even though they are at the top of the food chain, they are well aware of the obligation to give back, to lead the next generation, and to be that dynamic force on the team.
To contact San Diego Sports Innovators, log on to sdsportinnovators.org or call (858) 964-1300.
TAGS: bill walton, hall of fame, nba, san diego sports innovators, SDSI, Transworld Business
