Start Pill
Sports is an interesting industry that attracts startups for many reasons. The amount of money circling around this market also makes it attractive for those who want to start a company. It is estimated that the sports industry as a whole is worth $458 billion in 2019, and the tech sector could account for at least 10 percent of this volume.
One of the most prominent emerging sports tech companies is handicap betting where companies can apply their skills to make a profit out of it. The handicappers are in charge of calculating how likely it is for one team or player to win against another, and based on these calculations, people bet on who they think will win the game.
There are also sports-related startups which focus on providing services like ticket booking, fan club management etc. Apart from handicapping and software development, there are other startup opportunities like sports apparel manufacturing companies which provide high quality clothes at competitive prices without compromising on design aesthetics.
One more example would be wearable technology startups that have been able to find acceptance in this market due to the fact that sports technology has advanced greatly in the last few years.
Sports tech startups are not limited to these examples, but they might be the most popular ones currently. Although there are many arguments against emerging technologies like wearable tech, it is still an area that would attract more investors and entrepreneurs alike over the next few years.
There are some startups that have already established themselves in the field, and their expertise might be of use to new entrepreneurs who are considering entering the scene. One example would be Wiziwig which is a live sport streaming service that has been able to grow quite popular over the last few years.
Startups that fail are common in this day, especially in the tech world, but even more so in emerging industries like sports technology. Nonetheless, this is not an argument against the field itself.
For investors who are constantly looking for new potential industries to get into, sports technology is one of the most interesting areas that will continue to grow over the next few years. It may seem difficult to enter it now, but the lack of direct competition suggests that it is a good time to make initial investments.
There are many sports tech startups which provide different kinds of services, and some of them might be what you are looking for as a potential startup founder.
For those who do not have any plans on getting into sports technology now, but want to keep an eye on this industry, we have outlined a few names worth following in the coming years.
Crowdbotics
This is one of the few startups that was able to work on a combination of machine learning and expert developers to help both technical and non-technical teams build complex software applications faster.
The company started operations back in 2016, and it has already begun working with some big names in sports technology including Firebase, TellApart, and Behance.
Wiziwig
As mentioned before, this is one of the most popular live sport streaming services out there which has managed to earn popularity due to a large number of sports fans all around the world as their loyal customer.
There are many reasons why it’s still around, and that’s because it provides services like sports news, live scores Although it primarily focuses on providing news to its users, betting is not excluded.
Sporting Data
This company was established in 2009, and they are known for their sports data analysis services. They have worked with many big names including Sky Sports, ITV Sport etc.
If you are looking for a sports tech startup that can provide data analysis on a wide range of topics, this is the one.
Sportsmechanics India
Started in 2006, it has quickly become one of the most influential startups in the sports tech domain thanks to its focus on data and analytics.
The company offers analytics services for cricket teams and clinics around the world, and their ‘Prediction League’ is one of the most widely used services for cricket fans.
Sports Performance Tracking Inc. (SPT)
Based out in Seattle, this startup uses machine learning to provide data-driven insights related to sports performance starting from amateur players all the way up to pro leagues.
Their focus is primarily on American football, but they do offer some services for basketball as well.etc. while being the fastest to deliver the event.
Fantasy Labs
This is one of the most interesting startups in this list because it has been established by professionals in the sports field.
It provides services that help daily fantasy sports players with proprietary data and tools to test theories, quickly create and backtest models, and ultimately construct profitable DFS lineups.
The business is run by pro basketball players Mark Madsen and Drew Madsen, along with Matt Knutson.
Pinnacle Sports
Founded back in 1998, this sports betting site has a lot of experience even though it’s a newcomer to the sports tech scene.
This company works with some highly skilled data analysts who provide services like odds and match data to their partners.
Ubersense
This company was established with a focus on providing mobile video analysis applications that enhance athletic performance across 20 different sports.
Founded in 2011, it’s one of the newest companies on our list, but that does not mean that it is any worse than its competitors.
Kick FC
This company has been backed by big names like Alex Poots, who is the CEO of London’s 2012 Olympic committee, and it also has some high-profile athletes as its partners including U.S soccer player Abby Wambach, English Premier League player Shinji Kagawa, Dutch footballer Jeremain Lens etc.
The company provides services like data-driven football (soccer) predictions, and it’s very popular among the users in Asia where it has multiple offices.
Final Say
As more people begin to focus on the sports tech industry, there will be a lot of fresh names emerging.
Sports tech startups that we have mentioned in this list will be around for a long time, and that means it’s a good time to make early investments.
However, you should always do your own research because there might be hidden gems which can provide unique services as well.
The sports industry is still growing at a fast pace, and it’s one of the few sectors where startups can gain an early advantage.
If you are looking for some interesting startups to follow in the coming months and years, we recommend keeping an eye on those four companies. They might not be as popular as Nike or Adidas in this market, but they still have the potential to become as popular as those industry giants.
Keeping an eye on emerging sports tech startups will not be an easy task for most people, but we hope that our list has helped you narrow down some of the choices.
