It's interesting that an organization like the L.A. Dodgers has interest in something like this. It's also worth noting how startlingly similar this is to the YC-model of funding: $120k, 3 months, demo-day...
This Dodgers accelerator is "Powered by TechStars". See http://rgaaccelerator.com/. The terms are exactly the same as all other TechStars programs. $20k for 6% equity + an optional $100k as a convertible note.