IEDC, Indiana Sports Corp. launch sports tech business initiative – Indianapolis Business Journal

A not-for-profit with a give attention to attracting investments in sports activities expertise to the state was launched Wednesday by the Indiana Financial Improvement Corp. and the Indiana Sports activities Corp.

SportsTech HQ is an effort from state financial growth and sports activities tourism officers to usher in enterprise startups targeted on sports activities and additional develop the state’s ecosystem of sports activities tech-focused corporations.

“Indiana has developed a world status for newbie {and professional} sports activities over the past 4 many years,” mentioned Indiana Secretary of Commerce Brad Chambers in written remarks. “By specializing in the way forward for sports activities expertise, we’re taking intentional strategic steps to make sure Indiana is the hub for sports activities expertise firms for the following 4 many years and past.”

Ryan Vaughn, outgoing president of the Indiana Sports activities Corp. can be serving as president of the brand new enterprise, which is being funded with about $2.25 million in seed cash from the IEDC. Vaughn mentioned the venture is being backed with workers and advertising assist from the Sports activities Corp., and he plans to remain on with the group’s board as soon as a full-time president is employed.

He mentioned the group will leverage assets from throughout the state to construct partnerships and supply funding for numerous initiatives from sports activities tech corporations. He mentioned it’s not clear how a lot the group’s price range can be year-to-year, however there could possibly be alternatives for funding from the IEDC.

“Our objective is to finally develop into an independently working not-for-profit,” Vaughn mentioned.

SportsTech HQ has already labored with one agency, Flexia, to safe monetary assist to begin full-scale manufacturing. Flexia is a platform used for Pilates train that has raised $4 million in seed funding.

As a part of its launch, SportsTech HQ this summer time will deliver the European sports activities and leisure expertise summit One-Zero to Indianapolis.

One-Zero is anticipated to attract about 500 individuals for networking alternatives, hands-on demonstrations and panels on huge trade matters like non-fungible tokens, ticketing, health, fan engagement, betting and fantasy sports activities. One-Zero can be held on the Nationwide Collegiate Athletic Affiliation headquarters July 6-8.

Cultivating a sports activities tech ecosystem will not be new to Indianapolis. Town is dwelling to the Techstars Sports activities Accelerator Powered by Indy. In April, the enterprise accelerator introduced its class of 2022, which is participating in a 13-week mentorship program.

Individuals within the present cohort will showcase their expertise and enterprise plans to potential buyers throughout an end-of-session demonstration in July. That demo day will coincide with the One-Zero summit

The One-Zero summit was established in Dublin, Eire, in 2017 and held there by 2019—earlier than the 2020 occasion was canceled as a result of pandemic. The ultimate occasion led to 1,000 attendees from throughout 16 international locations, together with executives from the NFL, Formulation One, Nike, Microsoft and the Premier League. One-Zero may even host a Dublin occasion in late 2022.

“We’re thrilled to accomplice with One-Zero to create a really distinctive occasion, targeted particularly round enterprise capital and excessive development startups in sports activities and leisure,” mentioned Jordan Fliegel, managing director of the Techstars Sports activities Accelerator and co-chair of the One-Zero Summit. “We’ve collectively been capable of pull collectively an ideal lineup of high-profile founders as audio system, and devoted panels moderated by skilled VCs investing within the house.”