Appreciating strategic support
DSRD introduced Vertical Orthotics to its BioBusiness program by first providing vital support for design engineers to further refine the orthotic device, to improve its efficiency and marketing appeal. A series of support and advice activities followed, including the introduction of specialist management, medical and manufacturing consultants. This assistance helped shape the business into its current competitive and efficient form.
The product is already attracting overseas interest and DSRD has assisted by supporting market research into export potential. This included a consultant’s visit to the prestigious annual Medica convention in Düsseldorf, resulting in a detailed report on competitive products. “This report confirmed that while there are numerous alternative products, there is no other corrective weight- bearing device anywhere in the world at present,” Mr Smith said.
Planning for the future
Vertical Orthotics currently employs six full-time staff, plus Mr Smith and two family members. Turnover has been growing at around 10 per cent per annum and in the first three months of 2003 this growth jumped to 20 per cent compared with the same period the previous year. Mr Smith looks forward to an on-going relationship with DSRD as his business expands into international markets.
Maintain self-confidence to achieve goals
recognise the importance of outsourcing
value all customers, large and small
vigorously maintain product quality
seek assistance from DSRD’s Bio Business program.
For further information contact
Department of State and Regional Development Biotechnology Unit
Level 43, Grosvenor Place 225 George Street, Sydney PO Box N818, Grosvenor Place Sydney NSW 1220
+61 2 9338 6968
+61 2 9338 6676