IIT-Madras is planning to provide up to Rs 5 crore in funding to support sports-tech startups in India. The goal is to encourage the development of products and applications that improve sporting performance by integrating technology with the sports industry.

The sports-tech startups will focus on creating products that use sensors, networks, actuators, and controllers. They will be eligible to receive support from the IIT Madras Pravartak Technologies Foundation and the IIT Madras Centre of Excellence in Sports Science and Analytics (CESSA).

Some key areas for sports-tech innovation include media and entertainment platforms, fan and player engagement, athlete performance measurement, esports, sports education, sports data analytics, and sports commerce.

An ‘IIT Madras Sports Technology Startup Conclave’ is scheduled for June 14-15 at IIT Madras Research Park. Shortlisted submissions will present their business ideas. Following evaluation by a panel and IIT Madras CESSA and Pravartak Technologies, selected startups will receive funding.

The investment support for each startup can range from Rs 10 lakh to Rs 50 lakh, based on business potential and equity stake by IITM Pravartak Technologies Foundation. Even startups at an initial stage can be considered for funding if they have incorporated their company and intellectual property rights.

IITM CESSA will also provide startups with high-tech sports infrastructure, tech support, and a comprehensive startup ecosystem. The aim is to encourage entrepreneurs who are using technology to enhance athletes’ performance and make them globally competitive.

Until May 2024, the IIT-Madras Incubation Cell had already supported 351 startups, attracting a total investment of Rs 10,425 crore from angel investors and VCs, with a combined valuation of Rs 45,000 crore. The startups generated revenue of Rs 3,600 crore during the financial year 2022-23, creating over 10,000 jobs and filing 210-plus patents.

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