In just four years, Foil Drive has taken the foiling world by storm - quickly become a key player in the niche watersports industry.
For the uninitiated, hydrofoiling is a watersport using a specialised board with a hydrofoil attached, allowing users to glide above the water's surface.
Thanks to their innovative, super-lightweight motor kits that can be retrofitted onto existing surf, wake and wind foil boards – Foil Drive has conquered the Australian market and is now looking to ride this wave of success across the globe.
As a recipient of the Global Expansion Program (GEP), Foil Drive Co-Founder Ben Jamieson said they now planned to dedicate 90 per cent of their efforts towards new export growth.
“The GEP grant will allow Foil Drive to supercharge our efforts of expanding our South Australian business and brand further into major export markets such as the United States,” he said.
“With enormous potential in the inland waterways and broader boating and marine community of the US, we’re excited by the opportunity this grant brings to broaden our export potential.”
While the company already generates sales in places like United States and Europe, the Global Expansion Program will allow them to tap into a completely new market segment.
“In the US, we’re looking beyond the coastal market and targeting inland watersport users—think lakes and rivers,” Mr Jamieson explained.
“Right now, all our marketing and content are geared toward coastal riders, and we haven’t tapped into the inland market yet.
“Given this is already a major market for us, the opportunity to further expand our each in the US is incredibly exciting.”
Foil Drive, based out of St Marys in Adelaide, said exports were a crucial part of their growth strategy and hoped to employ at least three new local staff to support their global expansion.
“Market diversification reduces reliance on a single economy and customer cohort, helping us stay resilient in changing market conditions and expand our growth potential,” Mr Jamieson said.
“…Foil Drive are incredibly grateful of the opportunities provided through the government grants.”
