The Victorian Government announced today new support for Victorian sports tech companies, innovators and developers to 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.
With more than 110 startups, Melbourne is regarded as 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.
Victorian Government 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 acknowledged that Victoria's internationally-renowned events calendar, elite sporting precincts and globally recognised strengths in health and wellbeing puts the state in pole position to secure a strong presence in the SportsTech landscape.
Victoria is the nation’s dominant sporting state and the Victorian Government is making sure that pre-eminence extends to the burgeoning SportsTech sector.