Tell us about yourself:
Lee worked as a software engineer at Nationwide Insurance, leaving the company in 2001 and founding Market Flex. Market Flex allowed mutual fund managers to transfer thousands of participants from one portfolio to another seconds before the market close. He sold that business in 2002. After that he returned to school for his PhD in physics at Ohio State. While there he spun a company out called Traycer. Traycer invented the world's first T-ray (like X-rays but non-harmful) camera and received $7M in angel and VC funding. During his time at Traycer he was awarded $1.5M in government product development dollars, co-created the $3.5M HELIOS lab at Ohio State, and sold over $1M in product. In 2014 Traycer was moved to the Bay Area by its new investors. After 8 years with the company, Lee left and started several projects before Fan Fund. These include Fleet Tracking product FieldHub, and sharable social maps app Locol. He has also been a participant in the entity wagering fund sportzhedge.com. Since June 2016 Lee has been focused on Fan Fund.
What is your innovation/idea?
Fan Fund is the first sports securities marketplace for investing and entity wagering. It connects professional sports analysts with sports enthusiasts for investment opportunities. Customers buy units in a fund, and similar to traditional stock investing, if their picks (games) win, the value of the fund goes up. This new market was created after entity wagering legalization in 2015, and passage of the JOBS Act. Studies have shown that sports investing outpaces traditional stock or bond investing due to high transparency and wealth of data analytics in sports. Fan Fund allows everyone to harness their love and knowledge of sports, for a superior, fun, investment return.
Why are you participating in this competition?
San Francisco is the epicenter of start-ups, innovation and disruption -- this competition keeps these qualities alive in a city that is ever changing. In addition, this competition enables a community that can make a difference everyday in peoples lives through technology. Being new to San Francisco, becoming part of this thriving community has been a dream since my youth and this competition provides another stepping stone. Furthermore, the addition of raising money to defeat cancer connects my passions for social and financial enterprise.