ASTN releases new playbook to encourage sports tech startups

Committed to strengthening the reach, international reputation and global connections of the sports tech startup ecosystem, the Australian Sports Technologies Network (ASTN) has released a new playbook outlining strategies and tactics specific to the nation’s sports tech sector.

The ‘Born Global or Die Local’ Playbook builds on the success of hundreds of sports tech companies in the ASTN network over the past decade, and covers how successful, scalable and globally significant sports tech companies have been built.

Introducing the Playbook, the ASTN advise “local sports industry stakeholders sometimes take for granted the unique sporting environment that Australia has created over generations.

“This environment provides businesses with the perfect foundation to develop and validate globally significant sports technologies.

“Australia’s great global sporting reputation is built on a track record of sporting excellence that continually inspires the next generation of participants, fans and industry leaders.”

The publication notes other characteristics that contribute to this reputation:

Major Sports Events: Australia has developed some of the world’s best sporting precincts on the doorstep of our major cities which host a multitude of world-class major sporting events and professional sporting teams year-round. We are recognised amongst the world’s leaders for hosting and managing major sport events.

Community Sports Development: Australia has created well-structured sports systems, development programs and athlete pathways, complimented by excellent access to multi-sports facilities and precincts that feed community sports participation.

Sports Science and Management Expertise: Australia has pioneered and delivered some of the world’s best sports science, sports medicine and sports management curriculum to over 30 years of graduates that are employed at major sports clubs, leagues, teams and events around the world.

These characteristics provide the platform, the melting pot and the unique sports ecosystem that has helped Australia become one of the top six sportstech regions of the world (which includes North America (USA and Canada), United Kingdom, DACH (Germany, Austria and Switzerland) and Israel. And this environment provides the foundation for the ASTN in developing its ‘Sportstech Startup Playbook’ to success.

These characteristics provide the platform, the melting pot and the unique sports ecosystem that has helped Australia become one of the top six sports tech regions of the world (which includes North America (USA and Canada), United Kingdom, DACH (Germany, Austria and Switzerland) and Israel.

And this environment provides the foundation for the ASTN in developing its ‘Sports tech Startup Playbook’ to success.

A pathway to green and gold success
ASTN has seen increasing evidence that Australian sports tech companies are successfully implementing the ‘Born Global or Die Local’ philosophies and strategies, leading firstly to success domestically, and then as category leaders in their foray into global markets.

As a starting point, the great majority of sports tech startups will use Australia’s sophisticated sports industry to test and validate their new sports innovations, and then typically raise a seed and a follow-on round of investment domestically to finance growth in the local market. Research and testing of scalable supply-side resources is generally then undertaken with some manufacturing, technology development, staffing and partners sourced across lower-cost Asian markets.

Priority international markets are then often researched and pursued to scale demand and revenues in larger markets. Australian sports tech entrepreneurs are well-respected in key markets globally based on Australia’s long-standing credibility and success in sports performance, sports science and sports management. Of particular interest to Australian sports tech businesses are North America, the United Kingdom and Europe - in particular the DACH and FRES regions.

Spotlight on three themes commonly overlooked by sports tech founders
ASTN’s Born Global or Die Local Playbook also highlights three often overlooked themes that should be addressed by sports tech founders to ensure they maximise their chances of success. Two of the themes are key elements of the Lean Launchpad methodology, a widely used, pragmatic and successful approach to developing a minimum viable product (MVP) for a startup venture.

Business Model: The first theme involves developing and documenting a business model, typically using a ‘live’ one-page business model canvas. The key elements of the business operations need to be tested, modified (if required) and validated by the startup before the business can be scaled.

Customer Discovery: The second theme is customer discovery which involves the founders interviewing prospective customers and key stakeholder groups to thoroughly understand the market problem and need that the technology or solution intends on addressing.

The technology or solution as well as the business model is reviewed and revised based on feedback from the market (see Figure below).

Figure: The Customer Development Model (Source: S Blank).

ASTN continues to see countless Australian sports tech companies successfully executing the strategies and tactics in its industry-first ‘playbook’. ASTN continues to work closely with Australia’s next generation of sports tech leaders through targeted programs and activities to fast track their success and support them to compete and thrive on the global stage. ASTN continues in its commitment to building an even stronger Australian sports tech ecosystem to ensure Australia maintains its international status as one of the world’s leading sports tech nations

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