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The Victorian Government, via its startup agency LaunchVic, is continuing to support the fast-growing sports technology sector, confirming funding of $350,000 for the Australian Sports Technologies Network (ASTN).

Announced on Friday at the Australia Sports Tech Conference in Melbourne, at the culmination of Australia Sports Technology Week, the new support for Victorian sports technology aims to help innovators and developers reach their full potential.

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 viewed as Australia’s pre-eminent city for the burgeoning sector.

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

Launched on Friday, 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 is well placed to be a significant player in the ever-expanding sector.

Commenting on this growth, Victoria Minister for Jobs, Innovation and Trade Martin Pakula stated “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.”

Welcoming the funding, ASTN Chair James Demetriou commented “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.”

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

Click here to view The SportsTech Report Advancing Victoria’s startup ecosystem report.

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