Our plan is to tap into the backgrounds, experiences and relationships of our board and management team to capture the opportunity in sports tech.

New technologies are transforming the sports industry. Key trends include the use of wearables, data analytics, new methods of fan engagement and new esports and gambling platforms. These developments are creating attractive high-growth opportunities. According to Grand View Research, the global sports technology, or sports tech, market in the U.S. is forecast to grow from $12 billion in 2021 to over $36 billion in 2028, a compound annual growth rate of 16.8%.

We will focus our efforts in four categories of sports tech:

(1) Fan Engagement. Technologies are enhancing the fan experience. Examples include new media platforms, specialized content, virtual and augmented reality, smart stadiums, and online communities. Fans can now connect with their sports in new and exciting ways.

(2) Health and Wellness. This category includes wearables and other data analytics that are improving the way that athletes and fitness enthusiasts train, perform, recover, and monitor their well-being. Businesses feature hardware, including new workout equipment and post-workout devices, and software for instruction and workout coaching, analysis, and feedback.

(3) Esports. This is one of the fastest growing categories in sports tech. Esports features new games, teams, tournament platforms, and businesses providing sponsorship opportunities for this high-growth category. Much of what has traditionally taken place in the physical realm is now taking place virtually as well.

(4) Fantasy Sports and Gambling. Increasing acceptance and legalization of gambling have created exciting new business models. These span content and information, tools for making bets, and new digital platforms for fantasy and gambling. In-game betting will change the way fans watch sports, some refer to this as the gamification of sports.

(Note: SportsMap Tech Acquisition Corp. priced its SPAC IPO on Oct. 18, 2021, in line with the terms in its prospectus: 10 million units at $10 each to raise $100 million.)