Entain Monday announced it is launching Ennovate, a global innovation hub. The U.K.-based gaming operator will invest up to £100 million in innovation projects, start-up investments and collaborations with UK, European and global partners, with £40 million specifically earmarked for innovation investment in the UK.
“We want to lead the way with new, exciting products and experiences for customers and use our cutting-edge technology to pioneer innovations in sport, gaming and interactive entertainment for the metaverse,” said Entain CEO Jette Nygaard-Andersen in a statement. “We also want to use our position as a global technology leader to help drive innovation more widely. Working with partners around the globe, Ennovate will demonstrate how Entain’s industry-leading technology can both revolutionize experiences for consumers and deliver real benefits to society.”
Verizon, BT, and Theta Labs are the initial tech companies slated to work with Ennovate.
The first dedicated innovation lab will open this spring in Charterhouse Square, Farringdon, in the heart of London’s entrepreneurial tech community, and close to the UK headquarters of TikTok and Snapchat. Entain’s innovation technology team will work with commercial and not-for-profit partners at the lab.
The centerpiece of Ennovate labs will be an Experience Zone, allowing customers, investors, partners and employees to try immersive experiences in sport, gaming and interactive entertainment.
“Our goal is to bring the most exciting experiences in immersive sport, gaming and interactive entertainment to life as the metaverse takes shape,” said Entain Chief COO Sandeep Tiku in a statement. “Working with partners, we believe we can achieve great things faster, both for customers and to apply these technologies and skills to benefit wider society.”
Among the first products Ennovate will showcase are non-fungible tokens (NFTs), unique digital collectible assets that Entain will develop for brands across the group; immersive experiences in virtual reality and augmented reality; and virtual reality arcades for customers at two locations later this year.
