Miami may be a well-known hub for successful physical sports teams like the Miami Dolphins (NFL) and the Miami Heat (NBA), but the city is well on its way to branching out into the sports tech game. Given that the industry is worth about $13 billion at present, it’s only expected to grow in the future. In fact, sports tech has a projected annual growth of over 20%. While people often think of gamers when someone mentions sports tech, the industry spans far beyond eSports and into performance, betting, analytics, and even fan experiences.
The Key Players in Miami Sports Tech Growth
When it comes to the Miami sports tech scene, plenty of startups are making a splash à la dolphin style with a focus on both performance and science. So, which companies are leading the charge?
KinaTrax is located in Boca, and the company has been honing biomechanics with markerless motion capture to analyze players as they perform. The tech is so successful that the MLB has taken notice, and Sony has purchased the company.
Instructional sports tech is also on the rise, with SportsEdTV cornering the coaching market with instructional videos. Meanwhile, the company Amp focuses on fitness, using AI to help consumers exercise at home with programs tailored to each individual. Similarly, 54D centers on workouts, nutrition, and recovery.
Sports Tech Isn’t Just for Players
It’s not necessary to be an actual player to enjoy some of the new tech in the sports realm. Betting has a huge market right now, and startups are taking advantage of the trend. The company Winible focuses on sports influencers, who can make a profit with virtual storefronts. Former NFLer Ray Lewis has even backed the project.
The company Betr, founded by Joey Levy and Jake Paul, is most interested in providing easy betting options for people who may not be fully in the know about stats and the nuances of betting. What started out as micro-betting has evolved into bigger markets.
Of course, there are a lot of do’s and don’ts in the world of online betting, and IC360 is here to make sure these companies don’t fall into any gray areas regulation-wise.
AI Is Changing the Sports Analytics Game
Similar to betting-centric companies, many Miami startups are centering their platforms on using AI in sports analytics. Gemini (no, not the horoscope) is developing a no-code AI platform that uses predictive modeling. SportsVisio specifically focuses on basketball analytics to assist players, coaches, and even parents.
Tech Is Breathing New Life Into Sports Fandom
Some sports tech companies are even providing fans with an all-new way to engage with their favorite sports fandoms using virtual reality. Fans can now live out their NFL dreams with StatusPRO, while more passive fans can catch up on sports action with short clips using the Highlights App. On a more immersive scale, Fz Sports and Fanatiz allow fans to stream soccer worldwide.
Fans Can Find Events With the Click of a Button
Sometimes, it can be difficult to find and run sports events in any given community. Haku wants to change that with a platform that helps organizers plan and implement sports events. For fans looking for an easy way to find soccer matches in their area, Plei is available as an all-in-one tool.
Collectibles Are Branching Out Into the Virtual Space
Sports fans don’t need to go to the local trading card store to find collectibles anymore. Companies like Loupe, Superlogic, Polkadot, and Planet ReFi are giving fans the opportunity to collect digital trading cards and NFTs in all aspects of the sports space.
Sports Tech Is Allowing College Athletes to Control Their Name, Image, and Likeness
Colleges make major profits from student-athletes, but the players don’t often see any monetary compensation or have a say in how their image is used. Some Miami startups are offering a space for athletes to partner with sponsors without risking NCAA noncompliance.
One such company is NOCAP Sports, which is essentially a digital marketplace for NIL business. Athliance is also paving the way for NIL opportunities as well as offering education on the topic and making disclosures and compliance as transparent as possible.
It’s a New Age For eSports in Miami
eSports is arguably the most well-known branch of sports tech, and Miami startups are taking advantage of the boom. Between companies like Gaming Frog that focus on player-to-player matches, virtual reality companies like AEXLAB, and blockchain gaming with Faraway, the opportunities for Miami eSports are endless.
Suffice it to say, Miami is paving the way for other cities in the sports tech space with startups for gaming, fan engagement, analytics, college athletes, and betting.
