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ASTN accesses investment funds for sports technology entrepreneurs

ASTN accesses investment funds for sports technology entrepreneurs
August 14, 2016

The Australian Sports Technologies Network (ASTN) has announced the continuation of its partnership with The Australian Sports Tech Company (TASC) as a key investor into the Australian sports technologies industry.

TASC is an Australian-based investment company with strong global links in sports and technology. It has significant global connections, footprint and expertise at its disposal in fulfilling its charter and in supporting and mentoring its investee companies.

Commenting on the link, TASC Director John O’Connor explained “the ASTN continues to provide a fantastic connection into the sports tech start-up landscape.

“We also continue to see some tremendous opportunities that are being developed by Australian sports tech entrepreneurs.

“Over the past year, TASC has demonstrated an active interest in investing into Australian-based sports tech companies which has resulted in the achievement of excellent validation in the Australian market.

“At TASC, we are looking to expand our seed investment portfolio up to 10 companies within the next 12 month period. We have a real focus on ensuring investor value and the demonstrable ability for investee companies to quickly grow to global scale.”

ASTN Executive Director Craig Hill added “at this stage we see TASC as the only company in the Australian market that is exclusively dedicated to investing in and supporting sports tech start-ups on their journey. TASC, through its early-stage investment, is an important part of the jigsaw in supporting the development of Australia’s sports tech eco-system.”

An ongoing expression-of-interest is open to Australian start-ups (or individuals) that would like to apply for seed funding for their sports tech business.

Investment by way of seed funding will indicatively be offered for an amount of up to $ 100,000 for up to 15% equity stake. Selected start-ups may also have the opportunity to secure follow-on funding from the investor in the future.

Click here for more information relating to the seed investment opportunity.

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