SportsTech Funding Gives Victoria The Winning Edge

Victoria is the nation’s dominant sporting state ­and the Andrews Labor Government is making sure that pre-eminence extends to the burgeoning SportsTech sector.

The Labor Government today announced new support to give Victorian sports technology companies a leg up, to help innovators and developers reach their full potential.

SportsTech has been identified as a key emerging sector, valued at US$27 billion globally in 2018 and expected to grow to US$93 billion by 2027. Australia is an important player on the world stage and as home to more than 110 startups, Melbourne is the nation’s SportsTech capital.

Victorian success stories include companies working in sport analytics, wearables, broadcasting tech, fan engagement, facilities technologies, eSports and event technologies.

The Government, via its startup agency LaunchVic, is continuing to support this fast-growing sector and today confirmed funding of $350,000 for the Australian Sports Technologies Network (ASTN).

ASTN will deliver four accelerator programs to scaling startups focused on human performance and sports technology.

A KPMG report commissioned by LaunchVic acknowledges that with an internationally-renowned events calendar, elite sporting precincts and globally recognised strengths in health and wellbeing, Victoria was well placed to secure a substantial slice of the ever-expanding SportsTech pie.

To find out more about the Australian Sports Technologies Network, go to astn.com.au.

Quotes attributable to the Minister for Jobs, Innovation and Trade Martin Pakula

“Victoria is producing an amazing array of SportsTech innovation and our companies are taking those products to market here and abroad with great success.”

“The accelerator programs that we’re backing through LaunchVic will help further propel Melbourne and Victoria into the future.”

Quote attributable to LaunchVic chief executive Kate Cornick

“This investment will enable more outstanding companies to succeed, bolstering our SportsTech sector and the broader Victorian startup ecosystem.”

Quote attributable ASTN chair James Demetriou

“Initial funding from LaunchVic helped ASTN create a globally-recognised sports innovation cluster in Victoria and the additional funding will enable us to capitalise on this.”