Top Ten in Tech: Chicago | Chicago as a SportsTech Hub
Welcome back to the latest edition of the Top 10 in Tech: Chicago.
This week Ellie Davis runs point on our SportsTech-themed Top Ten in Tech: Chicago, Issue #15. Let's go!
For me, growing up in the college town of Champaign, Illinois, March was always one of the most exciting times of the year. We would caravan with the rest of the local die-hards to follow the Illinois Basketball team across the country, always filled with so much hope...
...until their ultimate demise.
Outside of March Madness, this month also brings the awakening of MLB Opening Day, the beginning of golf season, and as of today, t-minus 55 days until the Indy 500.
Ellie Davis here, Senior Manager of Venture Impact at TechNexus. In the spirit of what I love about March, I’m diving into Chicago as a major sports city and how that has influenced advancements in new technologies and innovations from around our local ecosystem.
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Embracing the Farm System Mentality in Corporate Strategy
By Ellie Davis, Sr. Manager, Venture Impact
For over a century, sports teams—like Chicago’s own Cubs and White Sox—have used farm systems to develop homegrown talent, providing access to new players without overspending on big names. By building a talent roster from the ground up, these teams could cultivate success and create a competitive advantage year after year.
Corporations can adopt this same strategy by creating their own farm systems.
Instead of relying on expensive internal R&D projects, companies can build relationships with entrepreneurs who are building unique solutions to the problems they, too, have. At TechNexus, we call this power play a 'venture ecosystem, ' and it’s an approach we’ve used for over a decade to help businesses and entrepreneurs collaborate to drive growth and create tangible, shared value.
Like a farm system, a cultivated venture ecosystem is designed around a corporation's long-term innovation strategy to build on existing product offerings, enter new markets, and adopt new business models. It’s time to rethink how we build competitive advantages—just like Chicago’s top sports teams did with their farm systems. Large Fortune 500 corporations, many of which call Chicago home, take advantage of this approach and partner with innovative upstarts to ensure they remain on the Fortune 500 for years to come.
Now onto our Chicago SportsTech-themed Top 10…
01 // Chicago startups powering athlete performance
➡️ Startups are working on various products that help athletes perform at their peak. Chicago startup ElectroKare , an AI-powered, non-invasive electrolyte tracking software firm, offers insights into users' electrolyte levels during workouts, allowing them to take better care of their bodies. From professional athletes to firefighters to everyday users, there is a vast market opportunity and appetite for AI trackers that integrate with everyday wearables. When I met with the founder Mitchell Leshchiner I knew that I wanted to help however I could to connect them with local investors.
➡️ John Rogers , a prolific Chicago inventor and Northwestern University researcher, developed a biometric sweat patch that detects changes in sweat rates and chemical concentrations to identify electrolyte loss. The device was even used in a Gatorade commercial featuring Serena Williams.
➡️ Drip Tech Co. , a female-founded, local startup, is working to solve dehydration in athletes with its sweat-sensing wearable device. Karishma Bali
02 // SportsTech Market Map: How the sports industry should work with tech startups
The rise of performance tracking devices and other high-tech tools transforms how athletes measure their skills. But, SportsTech is more than just wearables and performance tracking. With the rise of NIL deals, the legalization of sports betting, front office analytics, smart stadium technology, and more, innovative tech solutions touch all aspects of the sports industry today.
In our latest industry market map, we’ve highlighted top innovators in SportsTech that are revolutionizing the game from top to bottom. This national venture landscape includes local Chicago companies like DubClub , a tool for sports handicappers to share their betting picks, and Top Tier Lessons , a marketplace for college athletes to book 1:1 coaching classes with kids.
Recommended by LinkedIn
03 // Midwest Madness: Vote on the best
Midwest Startups and M25 present their 5th annual Midwest Madness, a bracket-style tournament to showcase the top tech startup ecosystem.
The tournament is currently down to the Elite Eight, and voting takes place on LinkedIn TODAY, April 1st. Make sure to vote so that your favorite city (team) advances! Participate here.
04 // From the court to the boardroom: level up your performance
What do elite athletes like Tom Brady and LeBron James have in common with high-performing founders? They treat their health like their most valuable asset. Coya is redefining executive performance by merging behavioral science, wearable data, and world-class coaching to help leaders unlock more energy, focus, and longevity. Whether you’re building your next product or pitching your next round, your health is your competitive edge. This high-touch coaching model is already being adopted by venture firms like Chicago-based 11 Tribes Ventures , who are offering Coya to their portfolio founders to help them perform at their peak—without burning out.
Ready to optimize like a pro? Connect with a Coya performance coach and start unlocking your full potential.
05 // Robot QB sets down roots in Chicago
There’s finally a quarterback in Chicago who never misses a throw. Monarc , a sports robotics startup, created what it says is the world’s first robotic quarterback, named Seeker. It’s used by dozens of college football programs, and its backers include NFL stars like George Kittle. The company, which relocated its headquarters to Chicago last year, says its device helps pass catchers and special teams increase reps during training without putting additional strain on the quarterback. Users select where they want the ball to go, and the Seeker will hit that location every time.
06 // VC funds fuel rising sports tech innovation
From our position within the sports & fitness venture ecosystem, TechNexus has spent nearly a decade investing in this sector's emerging technologies. We were early to back Tonal in 2017, and our ongoing work with both corporate partners and startups gives us a clear, connected view of how the industry is evolving. We’ve watched as dedicated SportsTech venture funds have emerged, following trends we’ve seen building for years.
In Chicago, KB Partners raised their $127 million fund in 2022, which was one of the largest early-stage, SportsTech-focused funds ever. To the north, the Green Bay Packers are investing in SportsTech through its VC arm, TitletownTech . Sequence Equity , another VC firm focused on sports, has filled its team with former athletes and trainers, including a former strength coach for the Chicago Bulls . Plus, Cartan Capital , a Seed-Series A venture firm focused on the sports and health technology markets, is co-founded by former professional tennis player CiCi Bellis .
The popularity of women’s sports has also fueled an uptick in VC firms investing in products geared toward female athletes. And just this month, Monarch Collective made headlines for raising $100M for women’s sports investments.
07 // Upcoming events
08 // Private Equity is betting big on the business of sports
The entry of private equity into sports franchises signals a shift toward a more business-oriented, data-driven approach to managing and growing sports teams. This month, the Boston Celtics sold for $6.1 billion to a group led by private equity executive Bill Chisholm. In Chicago, prominent private equity investor Justin Ishbia has taken a significant ownership stake in the White Sox, and the Chicago Bears have the option to explore PE funding to support the new stadium project. We can expect an increased focus on expanding revenue channels, improving operational efficiency, and potentially adopting more globalized strategies, and ultimately, help to bridge new avenues for startup collaboration.
09 // Bracketology is bringing fantasy sports to reality TV
We all have our vices—mine just happens to be reality TV. From Tournament of Champions on Food Network to Netflix's Love is Blind, I’m all in. So when I discovered Bracketology.tv , a platform that brings the fantasy sports experience to reality shows, my first thought was: how did I not think of this? It’s a genius way to turn binge-watching into a shared, competitive experience. If traditional sports aren’t your thing but you still want a taste of the madness—give Bracketology a look. Join or Create a League.
10 // Startup delivers faster live sports streaming
Phenix Real Time Solutions , a Chicago streaming startup, is building infrastructure for faster live streaming of events like sports. The startup says it can deliver live video to audiences with under 0.5 seconds of delay, which is handy for live sports bettors looking to wager on events in real time. Phenix is backed by KB Partners, Verizon Ventures , and other investors.
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Chief Executive Officer & Co-Founder | Bracketology.tv
6dAppreciate the inclusion of Bracketology! Hope your 🏀 and reality TV brackets remain un-busted :)
#MidwestMadness2025 Round of Eight is well underway! 🏆 Thanks for sharing!
Veteran solutions architect currently helping organizations benefit from AR, VR & MR technology!
1wThank you for sharing.
Author: ABCs of Construction Tech "You Can Too!" Builder, Carpenter & Storyteller #greenstepsforward
1wJorie Wisnefski and Audree Grubesic have a look
Author: ABCs of Construction Tech "You Can Too!" Builder, Carpenter & Storyteller #greenstepsforward
1wThanks for sharing