SportsTech is one of the hot upcoming tech topics
Need a few examples? Intel recently established the “Intel Sports Group” and is heavily investing, the NBA has become the most tech-savvy sports league in the world by building an entire tech ecosystem and the NFL is transforming players into smart athletes with the help of wearables and data analytics. US based organisations are at the forefront, but the European scene is catching up, e.g. with the F.C. Barcelona introducing the Barca Innovation Hub or data services heavyweight Sportradar. Many startups have been popping up over the recent years and the ecosystem is growing.
I’ve screened more than 1000 SportsTech companies in Europe, clustered them and put them into one big database. With this article I’m starting to share my insights. As I’ve been living and working in Malmö over the last couple of months I’m kicking it off with the Nordics.
The four sectors of SportsTech
Here’s a brief description of how I divided the SportsTech landscape.
Activity & Performance: Solutions that help with the actual performance, no matter if it’s before, during or after the activity. Typical offerings are data tracker, wearables and new kinds of sports equipment.
Management & Organisation: Solutions that help to manage organisations, venues, leagues and events. Also covers platforms to find other sportsmen, coaches, etc. and to buy products and services, such as tickets or trips.
Media & Fans: Solutions that provide sports interested people and companies with all kinds of content and data. Also includes social platforms that help with branding and connecting fans with athletes, teams, etc.
Games & Bets: Companies that provide eSports, Fantasy Sports and Betting solutions, for players & gamers and as a service.
Note: Some companies cover two or even more sectors/subsectors. For the purpose of this overview they had to be assigned to only one.
The Nordic SportsTech companies
Some very interesting SportsTech companies have their home in the Nordics. Here are a few exciting ones I want to highlight.
FotMob: Football livescores app and website with scores, news, tables, fixtures and more from various leagues.
Football Addicts: Building content based football apps such as Forza Football to bring fans closer to every aspect to the game.
Signality: Uses AI to create a unique dataset from any sports video stream, using only one camera angle and no special cameras or hardware.
Spiideo: Making advanced sports video recording easy, useful and accessible for athletes and coaches.
Sports Tracker: An award-winning app to easily track and analyze exercises and have fun training by sharing workouts and photos with friends.
Talents of Tomorrow: Software to get the true picture of talents with an advanced biological age calculation.
Tonsser: Social network to empower football players to showcase their achievements and determine their success.
Trackman Golf: The world leader in 3D golf ball flight measurement and swing analysis.
Vulcan Vision: Technology for players and coaches that allows to float around the athlete and view the performance from any angle.
Distribution within the Nordics
Country distribution: Sweden is dominating the Nordic landscape by numbers, covering almost half of the market. Interestingly there’s no clear SportsTech capital in the Nordics yet, as Stockholm, Copenhagen and Helsinki are home to about the same number of companies.
Sector distribution: “Activity & Performance” and “Media & Fans” cover almost two thirds of the total market. Biggest subsectors are “Wearables & Equipment”, “Activity Data & Analytics” and “News & Content” with 16% each. It’s a bit surprising that only 0,5% of the Nordic companies are in “Media Data & Analytics”, one of the most promising subsectors.
Approx. 30% of the Nordic SportsTech companies have been founded in the last 2.5 years, which is even higher than the European average of 25%.
More data coming up!
I’m going to publish overviews for other countries and regions throughout the next weeks and months. Make sure you follow me here on Medium and sign up to my newsletter to get the latest insights.
Benjamin Penkert is Head of Business Development & Events at the Swedish startup accelerator Fast Track Malmö and Founder of SportsTechX, an organisation that connects SportsTech startups with investors and the sports industry. You can get in touch via LinkedIn, Twitter or mail.
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