Driving athletes performance in the sport industry with IoT
The lack of tailored professional training methodologies makes most athletes and teams over-train but under-perform. In many cases, they have very little control over their performance and rely on subjective information. A problem seen during shows and competition events, is that event management becomes a stressful task for sport organizers. These stakeholders cannot efficiently keep player’s results due to the drawbacks of conventional time keeping methods, and lack result sharing and tracking tools to provide pro-environments.
In both cases, timing systems are essential to achieve high-quality outcomes, but available professional timing solutions require wiring, aren’t portable, result difficult to install, and are prohibitively expensive for non-elite levels. FastKrono is finally solving this old problem with a novel data driven IoT technology.
FastKrono is one of 20 ideas who made it on to Venture Cup's yearly Top20 list of best business ideas in Sweden 2021.
"Wining the competition will boost our confidence to continue developing the next generation of commercial prototypes that we are planning to launch in 2022. It is also a prestigious achievement to better promote our idea and accelerate our future plans with marketing, testing and external investments. The prize will be used to cover part of the share capital of the company we are currently establishing."- Jorge Roman, founder.
FastKrono brings an affordable suite of tools that enables athletes, competition organizers and sport clubs to gather and analyze data from sport events in a digital and user-friendly way. It makes most of the inaccurate traditional timing systems (stopwatches, results on paper or excel sheets) obsolete and opens up the possibility of using technology that has been typically only used in elite levels to everyone, including small organisations or even for personal use. An integrated cloud platform allows real-time sharing of the individual results and rankings with participants, accessible via smartphone app, tablet, and laptop.
For athletes and sports clubs, this allows them to monitor and improve performance by tracking, analyzing, and displaying data in a comprehensive way that can be used for validating training methodologies. For promoters of sport competitions, FastKrono enables to better organize and display results to participants, generating a pro-like environment with higher fan engagement.
Data analytics in the sport industry is growing 23% yearly and devices that collect data for analysis are becoming increasingly popular among athletics. Moreover, downloads of fitness apps grew a 46% in 2020 due to COVID! In the past 10 years, we have been seeing how NFL and NBA teams have boost players performance by designing better training sessions with analytic devices.
There is however still an issue to tackle – Current commercial systems are still only available for the elites levels, and here is where FastKrono makes a difference.
Prize: Top20 - IDEA 2021 region west.
Team: Jorge Roman & David Calviño
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