India’s Growing Sports Startup Ecosystem Gets Boost with Increased Budget
India’s sports startup ecosystem is evolving rapidly, catalyzed by the government’s renewed financial commitment to expanding sports infrastructure. Recently, Finance Minister Nirmala Sitharaman allocated a substantial budget of INR 3,442.32 crore to the Ministry of Youth Affairs and Sports. Of this, INR 900 crore has been earmarked for the Khelo India initiative, a program designed to nurture grassroots sports development and foster talent.
The Indian sports industry has been dynamic, with thriving leagues such as the Indian Premier League (IPL) and Pro Kabaddi creating a fervent fan base. However, technology-driven innovation within the industry is still in its formative stages. Between 2014 and 2022, investment in sports technology in India amounted to just $139 million across 29 deals.
Despite this nascent stage, sports startups are beginning to capture the attention of venture capitalists and notable industry figures. Illustratively, prominent cricket icon Shikhar Dhawan’s recent venture into a sports tech fund signifies growing interest. Additionally, the IIT Madras Sports Tech Start-Up Conclave and Centre Court Capital’s establishment of an INR 350 crore fund dedicated to sports tech exemplify the increasing momentum and confidence in this sector.
Startups such as FITPASS, established in 2015, are at the forefront of this revolution. They offer access to a vast network of gyms and fitness centers coupled with AI-driven wellness coaching. Rainmatter-backed Game Theory utilizes innovative smart courts equipped with computer vision technology to deliver personalized player insights, enhancing the player experience.
Moreover, entities like Hudle and KheloMore are working towards democratizing access to sports by simplifying venue booking and making coaching more accessible. These startups have a significant impact on the local community by enabling organized sports participation without the constraints of logistical challenges.
However, to foster a more inclusive sports ecosystem, more comprehensive support and funding are essential, especially in smaller cities and towns. By encouraging sports innovation, India can transform its relationship with sports, boosting grassroots involvement and aligning with initiatives such as Khelo India.
The sports tech market in India is poised for major growth, with forecasts suggesting it could reach $3.5 billion by 2027. This sets the stage for India to become a formidable player in the global sports tech arena, fostering a new generation of digitally empowered athletes and sports enthusiasts.
