TLDR
Queensland is bringing sportstech accelerator ASTN to back 40 startups in preparation for the Brisbane Olympics in 2032. The programs will focus on helping local companies attract the right investors for commercialization.
Article Summary
The Queensland government is partnering with the Australian Sports Technologies Network (ASTN) to bring a sportstech accelerator program to support up to 40 startups in Queensland. This initiative aims to get local companies investment-ready in time for the Brisbane Olympics in 2032.
The Queensland Investment Corporation (QIC) is providing funding for the program, which is part of the Queensland Venture Capital Development Fund’s efforts to mobilize global venture capital into the state. Several investment initiatives by QVCDF have attracted VCs to establish or expand their presence in Queensland, including partnerships with impact venture firm Pollination and generalist funds.
ASTN will deliver accelerator and entrepreneurship programs tailored to the specific needs of sportstech startups in Queensland. The focus will be on scaling up these companies and making them attractive to investors for commercialization purposes.
With nearly 20% of Australia’s sportstech startups already based in Queensland, ASTN aims to further grow the local sportstech ecosystem by offering mentorship and growth accelerators. The programs will target scalable companies that are poised for investment, driving innovation in the sportstech sector leading up to the Brisbane Olympics and beyond.
This collaborative effort between the Queensland government, QIC, and ASTN reflects a strategic approach to supporting local startups in a high-potential industry, positioning Queensland as a hub for sportstech innovation in Australia.
