The Australian Sports Technology Network recently announced that they secured The Australian Sports Technology Company as an investor into the Australian sports technology industry, which is incredibly important because of The Australian Sports Technology Company’s strong global connections in the sports technology industry.
Craig Hill, Executive Director of Australian Sports Technology Network talked about how this is very important and a big step forward for the Australian Sports Technology industry. He went on to say, “The ability to attract an investor with both an interest in Australian sports tech along with a global reach is exactly what our industry needs to support high potential, scalable start-ups.”
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On the other side, Director of The Australian Sports Technology Company, John O’Connor is very excited about backing startups in the industry and believes that with their expertise, seed funding, and global reach, the selected start-ups will be in a good position. He further stated that, “The decision to invest in the industry is well-founded based on the number of quality start-ups with real opportunity to quickly scale to global application.”
This news comes on the same day that Australian Sports Technology Network said in their media release that, they, along with The Australian Sports Technology Company, have launched an expression of interest to start-ups interested in securing seed funding from The Australian Sports Technology Company. Only a maximum of four applicants will be chosen, and those who are chosen will be offered up to $50,000 for a %15 equity stake in the company.
It is definitely exciting to see companies teaming up and doing what they can to proactively push forward the sports technology industry. With the applications due early May, it will be interesting to see what kind of start-ups get the funding and what they do with it.