ASTN and XT Ventures collaboration marks significant step for sportstech in Australia

ASTN and XT Ventures have signed a Memorandum of Understanding (MOU), as they collaborate to ensure early-stage businesses have the know-how and networks to bring their innovative technology-based product ideas for application in sport to market.

The partnership is expected to drive collaboration between ASTN’s large member network and XT Venture’s client base in Australia and abroad.

XT Ventures is an Australian-headquartered global investment firm that supports founders and their companies operating at the intersection of sport, fitness, wellness, health and technology.

In addition to investing capital in early and growth stage start-ups, XT Ventures will also leverage their global relationships with sports teams, leagues, vendors, associations, other investment firms and broader stakeholders as a strategic partner to support and accelerate growth.

ASTN is an industry-led Australian ecosystem of organisations with a vested interest in sports technology development. ASTN facilitates a wide range of programs and events including accelerator programs, masterclasses and business matching.

Guy Bracher, Associate Director Partnership and Growth, ASTN, welcomed the collaboration and said XT Venture’s depth of market knowledge and industry connections was significant.

“XT Ventures has a significant experience and expertise in the sport and start-up space and will help many young entrepreneurs realise their dream of going global,” said Bracher.

“Under this partnership, XT Ventures will support and contribute to various ASTN program activities, like ASTN-GSIC pre-accelerator, ASTN accelerator, pitching days and workshops.”

Andrew Fagan, General Partner, XT Ventures, said the ASTN, which provided leadership in the commercialisation, development, and promotion of Australian-inspired sports technologies, was a natural partner for them in the sports technology sector.

“ASTN has a network of more than 2,500 organisations that XT Ventures can connect and engage with so we view this partnership as a win-win for the local sportstech sector,” said Fagan.

ENDS

Media Enquiries: For more information, or to arrange an interview with ASTN, please contact Tara Ballard on 0436 330 267 or Tara.ballard@astn.com.au

Australian Sports Technologies Network Ltd

Australian Sports Technologies Network (ASTN) provides leadership in the commercialisation, development, and promotion of Australian-inspired Sports Technologies. Established in 2012, ASTN is today a world-leading pioneer with over 500 organisations in its national network across the landscape of Sports Digital, Sports Research, Stadium/Venues, Media, Entertainment, eSports, Human Performance, Fan Engagement, Sports Data, Artificial Intelligence in Sports, Sports Equipment, Sports Smart Apparel and Sports Universities.

XT Ventures

XT Ventures, High Performance Fund 1, will invest in exceptional Australian entrepreneurs and their companies who are reimagining the future of sports, fitness, wellness and health through technology. The initial investments will range in stages of development from pre-seed, seed and start-up through to early expansion. The XT Ventures team will help these businesses grow by providing capital, strategic advice, business structure support, customer introductions and founder development. By operating with a strong sector focus, XT Ventures will act as a genuine strategic investment partner for Founders.

For more information visit www.xtventures.com