With over £800 million invested in London-based FinTech startups in 2017, the city has quickly become widely recognized as the Fintech capital of Europe. Now a new vertical is beginning to gain momentum with an increasing amount of initiatives popping up across the city. SportsTech is taking center stage in London’s efforts to become the most physically active city in the world and more and more startups are making headways to get a piece of the pie. In this segment, we dive into the movement that London has been experiencing in the field of SportsTech.
On October 26th, we’re going to London to meet with all the most exciting SportsTech startups that the city has to offer.
Do you believe that venue optimization is the key for revolutionizing the SportsTech industry? Meet us in London October 26, tell us more about it and know more about our program: https://t.co/z2528oGxs1
— Startupbootcamp SportsTech (@sbcSportsTech) October 15, 2018
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Emerging SportsTech Community
Though the focus on SportsTech is relatively recent, we see new initiatives popping up every year. London Sport is working towards making London one of the most physically active cities in the world, while the Sports Technology Awards has been established to celebrate new headways in Innovation. Furthermore, Leaders are supporting SportsTech by arranging networking events between founders, investors and industry experts.
“Across London, we have seen tech innovation create new and exciting opportunities across a range of sectors. From FinTech to TravelTech, London enjoys a global reputation for producing new, game-changing technology,” says Russ Shaw, founder of Tech London Advocates in an interview with Silicon.
With the launch of House of Sport, a coworking space specifically focused on SportsTech, and Sport Tech Hub, a new SportsTech accelerator, London is shaping up to become a booming ecosystem for Sports Innovation.
UK SportsTech in Numbers
According to Benjamin Penkert, founder of @sportstechx, the mixture of established players, new startups and a grown-up ecosystem puts the UK at the forefront of SportsTech in Europe. Benjamin divides the landscape of UK SportsTech startups into five main groupings; Games & Bets (27%), Activity & Performance (16%), Management & Organisations (28%), and Media & Fans (31%).
The main bulk of SportsTech startups resides in the capital with 51% London-based SportsTech startups and 49% from outside London. Another interesting insight is, that while approximately 25% of all European SportsTech startups have been founded in the last 2.5 years the UK average is significantly lower with an average of 19%.
Though the sector might still be young, many exciting SportsTech Startups have already sprung out of London’s ecosystem. Based on our own research, here are the top business models for London-based SportsTech Startups ranked by investments over the past five years.
News and Livescores – With total funding of $25.3 million over the past five years, Online news media platforms offering sports news and content for football take the first place on this list. Notable startups include Squawka and Goal.
Social Networks – These startups offer social networking platforms for sports fans, coaches, and sportsmen and have received investments of $11.5 million. In the last five years, the most notable startup have included companies like Sportlobster and The Post Network.
Training & Performance Enhancement – Companies providing solutions for better tracking of team and athlete performance have in total received investments of $3.9 million. Among the top startups are Responsive Sports, providing smart sports equipment, and Shot Scope, a smart GPS watch for golf performance tracking.
Fantasy Sports Platforms – Companies providing fantasy sports platforms for multiple sports have collectively received investments of $4 million over the past five years. Notable investments have been made in Play_Fantasy_Game and MyDFS.
Let’s Meet up in London
Join us when we visit TechSpace in London for our very first FastTrack event. At the event, you will get the chance to receive one-on-one sparring from top experts in the industry. With us, we have Sam Cooke, Managing Director, and Co-founder @ Esports Insider, Stuart Brown and Anthony McGuire, both Founding Partners @ Frontier X, and Orsola De Marco, Head of Startups @ Open Data Institute.
If your startup is pushing the boundaries of the Sports Industry, then sign up today and secure your spot: Check out the event!
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