With its first lab scheduled to open in London, Ennovate is to invest up to £100m ($134m) in innovation projects, start-up investments and collaborations with UK, European and global partners.
In total, £40m will be specifically earmarked for innovation investments strictly in the UK.
The first lab, scheduled to open this spring, will be located in Charterhouse Square, Farringdon, and it will host members of Entain’s innovation technology team, working with its commercial and not-for-profit partners.
The lab will be evolving around an ‘Experience Zone,’ which will enable customers, investors, partners and employees to try out new experiences in sport, gaming and interactive entertainment.
Ennovate will initially showcase new consumer products and experiences, including NFTs and VR arcades, and technology partnerships with Verizon, BT and Theta Labs.
The lab will also exhibit accelerator and incubator programs, as well as not-for-profit and ESG partnerships. In addition to support and funding, not-for-profit partners will gain access to technical expertise and working space at Ennovate.
Jette Nygaard-Andersen, CEO of Entain, commented: "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.
"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 revolutionise experiences for consumers and deliver real benefits to society.”
