Beyond Growth: A spotlight on Australia’s Rising Global Success in Sportstech - Queensland

Agenda

• 3:45 - 3:55pm  Welcome
• 3:55 - 4:10pm  2024 ASTN Sports Innovation Report
• 4:10 - 4:40pm  Panel Discussion: The Impact of Sportstech on Queensland and its Ecosystem
• 4:40 - 5:00pm  ASTN-QIC VCDF Program - Startup Pitches & Discussion/Q&A
• 5:00 - 6:30pm  Networking

Supported By

Event Summary

2024 ASTN Sport Innovation Snapshot

• Geographic Concentration of Sportstech Startups: The majority of sportstech companies in Australia are clustered in Victoria (40%) and New South Wales (30%), with Queensland showing significant growth and approaching 20%. This demonstrates Queensland's rising prominence in the sports tech landscape.
• Economic Significance of Sportstech: The sportstech industry in Australia generates $4.7 billion in revenue and employs nearly 15,000 people, significantly outpacing the fintech sector in terms of employment. This highlights sports tech as a vital and rapidly expanding economic sector.
• Investment in Sportstech: Sportstech is now recognised as a distinct asset class, attracting sophisticated investors. Interest has shifted from merely owning sports teams to making targeted investments in sports technology, underscoring the sector’s growing financial appeal.
• Sector Maturity and Reinvention: The sportstech industry in Australia is transitioning from a growth phase to maturity. This stage opens opportunities for the industry to reinvent itself through new technologies, ensuring long-term sustainability and relevance.
• Queensland’s Growing Role: Queensland's sportstech ecosystem is maturing, with more companies transitioning from startup to growth phases. This reflects a broader trend of sports tech businesses from the region becoming globally competitive.
• Support for Startups: ASTN is committed to supporting sportstech startups by providing access to resources and connecting them with global investors, helping these companies scale and thrive internationally.
• To download the report, please visit https://www.astn.com.au/industry-reports

Panel Discussion

The conversation covered the expanding role of sportstech across all levels of sport, with an emphasis on collaboration and the challenges that come with innovation and integration in this fast-growing sector which included contributions from:

• Jeff Greenhill, Advance QLD
• Lachlan McKellar, City of Gold Coast
• Teale Blessington, Netball QLD and QLD Firebirds
• Jess Corones, Swimming Australia
• Tim Klar, QSport

Key Insights from the Discussion

1. Collaboration Drives Innovation: Panellists emphasised the need for collaboration between sports, government, and tech companies to unlock the full potential of sports tech. This collective approach will help in delivering more meaningful, scalable innovations.
2. Beyond Elite Sports: While sportstech is often associated with elite athletes, the discussion broadened to highlight the impact it can have on grassroots organisations, fan engagement, and even emerging areas like Esports.
3. Financial and Technological Barriers: A key theme was the financial challenges smaller organisations face in adopting new technologies. Strategies for overcoming these barriers, such as public-private partnerships and targeted investments to create economies of scale were discussed in detail.
4. Ethics and Data Management: As technology becomes increasingly integrated into sports, protecting athlete data is more critical than ever. The panel stressed the importance of robust data privacy practices and education for athletes and coaches about how their data is used.
5. Role of Cities in Innovation: Cities like the Gold Coast are stepping up as major players in the sportstech ecosystem, with initiatives that provide infrastructure and resources to support both small and large organisations in adopting new technologies.
6. Supporting Startups and Emerging Companies: There are innovative government programs designed to help startups gain access to larger contracts, and large corporates the ability to tap into the exciting startup ecosystem. This provides access and support for QLD startup companies to scale and succeed in both domestic and international markets.
7. Creating Inclusive Tech Solutions: A key takeaway was the importance of making sportstech accessible to organisations at all levels, not just the elite. This ensures that technology-driven advancements benefit the broader sports ecosystem.

Sportstech companies who are participating in the QIC growth-stage program

• Cool Beans Underwear – TGA registered testicular cooling medical device designed to optimise mens health, wellbeing and performance
• United Sport – Digital platform that connects organisations, athletes, and coaches with education to reduce injury, enhance performance and improve overall health and wellbeing.
• GravityFit - The G-Suit is the only patented apparel that incorporates GSI Technology to automatically switch on and strengthen the deep muscles to improve strength, power, core stability and overall movement quality

Speakers

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