Latest News

Back to Latest News back

 

Sport technology investment fund looks to kick goals

Sport technology investment fund looks to kick goals
November 8, 2012

A new report confirms Australia can expand its exports of sport technology exporter.

Presented at the inaugural Australian Sports Technologies Network (ASTN) National Conference, the report Lifting Our Game: Developing sports technologies to create value, by Professor Danny Samson of the University of Melbourne, highlights that the global sport technology market is worth $250 billion annually.

Commenting on the report, Federal Sport Minister Kate Lundy explained "this report is the first major study into our sports technologies industry and emphasises Australia currently exports less than $500 million – or 0.2% of global consumption – in a worldwide market for sporting and recreation goods worth $250 billion.

"The report says Australia already 'has a few islands of excellence' when it comes to sports technologies development, but that Australia has the strong potential for growth in the evolving sector.

"There are significant business and trade opportunities for Australia in the Asian Century. With a strong link between sport and industry in Asia, Australian business has a unique opportunity to make strong connections through sport and open doors to new markets.

"This growth could result in the creation of thousands of jobs and develop more opportunities for people in the sport sector in all levels of sport."

Senator Lundy, who formally opened the ASTN conference, backed the creation of ASTN with $225,000 in funding from the Federal Government.

The ASTN, whose foundation partners include four universities, the Commonwealth Scientific and Industrial Research Organisation, eight sports technology enterprises, venture capitalists and information technology experts, is now offering six start up sport technology ventures $8,000 in backing to commercialise their innovations.

In addition, an upcoming multi-million dollar sport technology investment fund aims to encourage entrepreneurs, investors and other industry players to come together.

The fund, set to exceed $10 million, is being put together by James Demetriou - brother of AFL Chief Executive Andrew.

ASTN Executive Director Craig Hill says that the new Network will aid Australia's sports technology sector by focussing on projects that bring technology developers together, examine market opportunities and support product exposure and marketing.

Hill states "the network is getting national traction with the universities but there's still a considerable length of time faced by inventors who want to commercialise their ideas (while) fund is very important because commercialisation is often the missing link for start-ups.

"There's not a lot getting to market, which is down to a number of things such as a lack of guidance on commercialisation, a lack of access to funding and not enough education.

"Given our stature in world sport, there aren't many Australian companies out there. This is the first time that there's a co-ordinated industry approach, to bring everyone to the table. There's a huge potential for growth."

Backing the Lundy, today launched a new collaborative initiative which brings together universities, sports technology enterprises and other industry players to help the development of new sporting technologies in Australia.

The Federal Government has provided $225,000 in funding to establish the new Australian Sports Technologies Network and invest in Australia's continued improvements in sporting performance.

Senator Lundy has previously backed the fund statting "this new network has the potential to unearth a new wave of Australian-made sport technologies.

"As global market opportunities emerge, growing this industry in Australia could lead to great economic opportunities and thousands of jobs.

"This is why the Australian Government is supporting the establishment of the Network and investing in continued improvement in sporting performance and economic performance.

"With some of our finest researchers, developers and entrepreneurs supporting this new initiative, I am confident it will deliver dividends."

For more information contact ASTN Executive Director Craig Hill on 0408 390 930, E: craig.hill@astn.com.auwww.astn.com.au

Related Articles

25th September 2012 - Australian Sports Technologies Network to host inaugural National Conference

26th April 2012 - Australia Government plan to lead the world in sports technology

18th November 2011 - Match-fixers to face jail under Australia-wide laws

8th December 2008 - New technology needs a sporting chance from clubs


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Clubware

Clubware’s online gym software is not your run of the mill management system. It has been carefully designed to incorporate all the elements that a fitness club would need. How did we do that?…

read more

Access / Billing / Fitness / Recreation

 
 

PathMinder

PathMinder Pty Ltd have partnered with AllUser Industries srl to bring Europe’s most advanced high security portals to the Australian and New Zealand markets. AllUser Industries started to…

read more

Access / Fitness / Recreation / Security

 
 

SENtag

Developed in Europe, this innovative system offers a safety management solution for swimming pools that checks individual swimmers via their wristband - monitoring their depth and time. Sensors…

read more

Aquatics / Hospitality / Safety / Technology / Waterparks

 
 

TICKETSERV

As of 2018, TicketServ operates as SeatGeek Asia Pacific Pty Limited, part of international ticketing platform SeatGeek. Click here to contact SeatGeek Asia Pacific via their entry in…

read more

Attractions / Entertainment / Events / Sport / Ticketing

 
 

Goplay Commercial Playground Equipment

Goplay designs and manufactures specialised playground equipment for indoor play centres, hotels, food chains, clubs and resorts. If our years of experience and dedication have taught us one thing,…

read more

Play

 
 

MYRTHA POOLS

Founded in 1961, Myrtha Pools® quickly became Italy’s première swimming pool company, and has since grown into one of the world's leading swimming pool construction…

read more

Aquatics / Design / Play / Waterparks / Wellness

 
 

QUAYCLEAN

Quayclean are a national cleaning and waste services partner with proven results in the understanding and delivery of cleaning needs and challenges faced by facilities including; major venues and…

read more

Aquatics / Hospitality / Surfaces / Venues

 
 

GLADSTONE MRM

Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…

read more

Access / Billing / Fitness / Technology / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business