The winning company, due to be selected from the 12 who progressed to the final stage of the University of Queensland’s inaugural global HYPE UQ SPIN Labsports innovation programme, will receive AUD$25,000 (£14,000/$20,000/€16,000) in prize money.

The programme was launched to exhibit sports entrepreneurship and innovation in the field of sports technology.

A total of 94 startup companies applied for the scheme, which were then whittled down to 26 who took part in a bootcamp at the university.

It included applications from Australia and other countries due to compete at Gold Coast 2018, such as Singapore, India and New Zealand.

The 12 shortlisted startups will be given the chance to showcase the projects they have come up with during the programme at the Games in the Australian city, scheduled to take place from April 4 to 15.

"The programme culminates in an event at the Commonwealth Games where the teams will pitch and exhibit their businesses to a selected audience," said Bernie Woodcroft, the startup accelerator director at the University of Queensland.

"Aside from competing for the $25,000 in prize money for the winning project, these entrepreneurs will have the extraordinary opportunity to present and connect with investors and sports business ecosystem stakeholders.

"Innovations from the HYPE network include fan engagement applications, health and bioinformatics, retail and ticketing, augmented reality, wearables and sensors, artificial intelligence, eSports and real-time decision making."