Export program makes waves across the globe

A sports technology company is one of eleven SA businesses expanding into new international markets thanks to a state government grant program - as applications open for the next round.

Facilitated by the Department of State Development, the $2 million Global Expansion Program is funded over four years and empowers businesses with the tools, resources, and guidance needed to navigate the complexities of global trade - supporting homegrown innovation and creating new jobs.

The Global Expansion Program aims to support South Australian exporters achieve $50 million in export exports over four years.

Foil Drive, a St Marys-based business that has developed revolutionary hydrofoil motor technology, is being supported through the Global Expansion Program to propel their business across the globe.

Hydrofoiling is a water sport using a specialised board with a hydrofoil attached, allowing users to glide above the water's surface. Foil Drive has created super-lightweight motor kits that can be retrofitted onto existing surf, wake and wind foil boards.

The company, which launched in 2021, aims to leverage the Global Expansion Program’s comprehensive package of grant funding, business support and personalised export advisory services to unlock export opportunities.

Having established a strong presence in the Australian market, Foil Drive began their export journey in 2023 and have since seen sales growth across Europe and North America.

The company is now targeting the untapped market of inland river and lake water sports.

To support their export ambitions, the Foil Drive expects to hire at least three more Adelaide-based staff, and several more in-market sales representatives.

Other round four Global Expansion Program recipients include:

• Silentium Defence Trading
• Acacia Systems
• Praxis Labs
• Solinnov
• Fivecast
• Inovor Technologies
• Hot Melt Packaging Systems
• Consunet
• LOGR
• MyBudget

Applications for the next round of the Global Expansion Program are now open and close at 5.00pm on Friday 11 April.

For more information or to apply visit:

Global Expansion Program | Department of State Development

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Quotes

Attributable to Joe Szakacs

Now more than ever, amid growing global trade uncertainty, we are backing businesses in South Australia that want to expand their footprint across the globe.

There is tremendous opportunity for innovative, growing South Australian companies that want to take the plunge and explore international trade.

Through the Global Expansion Program, businesses can enhance their competitiveness, introduce their products to other markets, create jobs, and contribute to a more vibrant and sustainable South Australian economy.

Attributable to Foil Drive Co-Founder, Ben Jamieson

The Global Expansion Program 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.

We have already built a significant presence in our niche of ocean loving water sports communities; however, we intend to use the grant to accelerate this presence and contribution further.

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.

Our product is universal in use between these markets however the target audience and persona is very different and requires particular marketing and sales effort to successfully target and engage these new communities.

Caption: Josh Ku (Pro Rider and Foil Drive Team Member)
Photographer: Matt Leong.