Innovation and startup companies are key to the long-term success of any industry, says Drive by DraftKings Partner Kiki Mills Johnston, and the betting sector is no exception to this rule.
Making an appearance at the SBC Summit North America, Johnston shared her opinions on the future development of the US sports betting space with SBC’s Erin Gallagher, outlining what she believed is essential for the continuation of the sector.
Drive by DraftKings is one of the more prominent startups in North American sports betting, having raised over $60 million in its first venture fund, securing the backing of high-profile businesses such as New England Patriots Owner Kraft Group, the Dallas Cowboys-owning Jones family and of course the DraftKings gaming operator.
Underscoring the significance of startups such as Drive by DraftKings in the development of both emerging and established industries, Johnston focused on how the companies can introduce much needed entrepreneurship.
“Startups are the lifeblood of every industry from health to science to sports betting to consumer products, you name it,” she remarked. “Founders see no limits, they find problems and want to solve them and are manicical about it.
“It’s truly important for industries to really listen and to understand what these entrepreneurs are seeing and the ideas that they have, because they’re addressing something that the market does need.”
In a similar vein to Johnston’s views on startups, the Drive by DraftKings Partner also highlighted innovation as the ‘lifeblood’ of any form of business.
Johnston added: “Industries, when they’re growing fast – whether it’s an old industry trying to be reestablished or a new industry like betting coming into the US – innovation is just the lifeblood of what any sector needs just to continue to advance and improve and really just kind of address what the market is asking.”