Queensland sports tech leader running rings around the competition
Published Tuesday, 01 February, 2022 at 12:45 PM
Treasurer and Minister for Trade and Investment
The Honourable Cameron Dick
Minister for Tourism, Innovation and Sport and Minister Assisting the Premier on Olympics and Paralympics Sport and Engagement
The Honourable Stirling Hinchliffe
If the Los Angeles Rams win the upcoming NFL Super Bowl LVI, they’ll be doing so with the support of Brisbane sports technology company VALD.
Founded in 2015, VALD have commercialised QUT-developed technology that’s on the cutting-edge of musculoskeletal testing for health and performance.
Treasurer and Minister for Trade and Investment Cameron Dick said the Palaszczuk Government is investing in the Queensland company through the $100 million Business Investment Fund (BIF), managed by QIC.
“From the Brisbane Broncos and Lions to all 20 English Premier League clubs and the majority of NFL and NBA teams, VALD work with the world’s best athletes, and we’re proud to be working with them,” Mr Dick said.
“In the past three years VALD have grown their workforce from 10 staff to around 80 in Brisbane and a total of 130 worldwide, and with our investment they expect to create an additional 50 local jobs over the next 18 months.
“VALD’s range of human measurement technologies have revolutionised screening, training, monitoring and rehabilitation for sports stars, offering unmatched insight into human movement, performance and recovery.
“Like the health and med-tech products produced by Queensland’s Stryker, Imaging Solutions and WearOptimo, this is another fantastic example of homegrown innovation setting the global pace.
“With the eyes of the world, and the world’s greatest athletes, focused on Queensland ahead of the 2032 Olympic Games, this presents a golden opportunity for VALD, and other local businesses,” he said.
“That’s why we’re backing VALD to take their trusted sports science technology to the next level.”
VALD’s current clients include 16 NRL teams, 17 AFL teams, 22 NFL teams, 26 NBA teams, 20 MLB teams, 20 EPL teams, 120+ UEFA Teams, 85+ American college (NCAA) teams, and more than 70 sporting governing bodies.
Innovation and Sport Minister Stirling Hinchliffe said diagnostic technology had become the new frontier in global sport.
“We’re entering an exciting and highly competitive era in the development of elite champions, led by state-of-the-art technology,” Mr Hinchliffe said.
“This is the beginning of an unrivalled era of opportunity for Queensland companies like VALD, ahead of Brisbane’s 2032 Olympic and Paralympic Games.
“It’s terrific to see Queensland technology leading the world to push the limits of human endurance and recovery further than few dared to imagine.”
VALD technology is also used by universities, hospitals and defence departments around the world.
VALD CEO Laurie Malone said the company are delighted the Queensland Government is backing their vision of democratising musculoskeletal healthcare.
“This investment ensures VALD remains headquartered in Brisbane and allows us to continue our expansion into new markets, including allied health,” Mr Malone said.
“We’ve helped global sporting teams win championships and we now look forward to taking that same technology and using it to help a 72-year-old grandmother rehabilitate from a hip replacement so she can pick up her grandchild.”
Queensland Investment Corporation CEO Damien Frawley said as one of the first institutional investors into VALD, QIC is excited to play an important role in the company’s global growth trajectory.
“We believe Queensland businesses are among Australia’s most innovative,” Mr Frawley said.
“This investment is the latest example of our commitment to the state’s flourishing entrepreneurial pool.”
The Business Investment Fund is part of the Palaszczuk Government’s $3.34 billion Queensland Jobs Fund.
This fund includes a range of programs designed to entice businesses to move or expand their operations here in Queensland and unlock growth across industries and supply chains to deliver better economic outcomes and create new jobs.
Media contact: Ben Doyle 0400 775 561