Investors are being given the chance to help grow a firm behind an innovative training system developed to improve the reaction times of athletes.
Vega V has been shown to improve reaction times by 25%, and it has already been tested on professional cricketers including former Durham batsman Will Smith and overseen by former England international Graeme Fowler.
The Sunderland-based team behind the light manipulated sports training system, developed with support from leading academics, are now using crowdfunding platform GrowthFunders to offer investors the chance to help grow the business.
The firm are pitching for investment on Growthfunders, the region’s first online equity crowdfunding platform, with ambitions to raise £200,000 to build the very first Vega V training system, based upon the success of trials using a prototype.
Vega V comprises a motion capture suit, lighting system and a modified bowling machine in specific lighting conditions of a specially-designed opaque tunnel, which, together, increase reaction times, improve the ability to bat at higher speeds and allow the coach to analyse the results of the training.
GrowthFunders was established to give businesses the opportunity to access a wide range of investors and the Vega V investment is for a total of 25% of the company. Investors can alternatively choose to invest in return for rewards including merchandise and artwork.
The research took place through Durham University, working with two vision scientists and cricketers of all standards. Once developed, the system will be based at either the University Centre Of Excellence or at the England and Wales Cricket Board’s National Performance Centre in Loughborough.
Founder and inventor director Mel O’Connor said: “Now that we have shown conclusively that the system works, we are using GrowthFunders to generate the funding for a fully-working system for cricket, then it is a case of developing into other sporting markets, including baseball, tennis and soccer.
“Graeme Fowler, one of the country’s top cricketers, was involved in the trials, and he could only conclude that the improvements shown could only be down to Vega V, as no other batting took place.”
Craig Peterson, chief operating officer at Growth Capital Ventures, the firm behind GrowthFunders, said: “Vega V is a really exciting proposition for sports development and I think it has real potential for investors through GrowthFunders. The platform has been developed for a wide range of business types that investors can really get enthusiastic about.”