Internationalization – Biofeet


Project Name: BIOFEET standing tall in search of sustained internationalization
Project code: NORTE-02-0752-FEDER-034647
Main Objective: Strengthen the competitiveness of SMEs
Intervention Region: North
Beneficiary entity: FootStudy by Cristina Costa – Centro de Estudos do Pé, Lda.

Approval date: 2018-04-18
Start Date: 2018-01-02
Completion date: 2020-01-01
Total eligible cost: 124,735.00 EUR
Financial support from the European Union: ERDF: 56,130.75 EUR

Within the scope of the project mentioned above, FootStudy aims to strengthen its capacity for internationalization, in order to sustainably increase its exports, through the application of new business models, valuing intangible factors of competitiveness (performance, internal organization, external communication, relationship with suppliers, processing of information relating to sales and customers, quality control, successful procedures for sustained internationalization).

In the context of the company's strategic action, and in accordance with its initial philosophy, the specific objectives outlined are:

- Promote partnerships with R&D entities, in order to guarantee continuous innovation in products and in order to gain recognition from the general population and the scientific/medical community
- Reach as many markets as possible, starting with Spain, France, Germany, Italy, the Netherlands, Mexico and the United Kingdom.
- Promote a sustained strategy of approaching customers, taking into account their specificities, investing in a diversified portfolio
- Improve the use of new management and information technology tools, investing in digital marketing as a vehicle for promotion and sales

The strategy for achieving these objectives involves adopting the following activities/types of investment:

  • Knowledge of external markets, through presence at international fairs as an exhibitor with the aim of obtaining an overview of the current offer and also serving to identify the main needs and market niches with a probability of success;
  • Presence on the web, through the digital economy, namely with the creation of a multilingual website as a way of promoting the company and its products. SEO and Google Adwords tools will be adopted, connections to the Google Analytics tool, promotion of campaigns on social networks and email marketing and also the creation of digital catalogs;
  • Development and international promotion of brands through the redesign of the Footstudy brand, the creation of identity for new BIOFEET products, as well as the company's sub-brands (Foot labs, Foot Clinics and Foot Care), community registration of the BIOFEET brand, photo shoot to promote BIOFFET, organization of seminars to publicize the brand and promotional actions in external markets, being present where the target audience is involved;
  • Prospecting and presence in international markets by carrying out prospecting trips to target markets as a strategy to approach and recognize target countries and to attract new customers;
  • International Marketing through the development of an International Marketing Plan, advertising in specialized magazines, the design and production of multilingual promotional material (flyers, brochures, catalogues, lists), the creation of a promotional and other institutional video and the investment in marketing campaigns, particularly at events not directly related to podiatry;
  • Introduction of a new organizational method in commercial practices or external relations, namely with the hiring of two qualified technical staff who will operationalize and manage the company's entire commercial strategy in the context of its internationalization, with the acquisition of two laptops for the technicians to be hired ;
  • Specific certifications for external markets through specific certifications and patent registration in each market. Studies and clinical trials are also planned to be carried out in partnership with the Braga hospital to prove that the product is also a drug.

With the development of this project, the company hopes to achieve the following results:
- Promotion of employability (hiring 2 people);
- Start your export activity, thus foreseeing penetration into 7 markets (Spain, France, Germany, Italy, Holland, Mexico and the United Kingdom).
- Reach, in 2020, a total turnover of €421,727.00 and international turnover of €168,690.80, expected to represent around 40% of total turnover

Summary of order No. 1 (19.09.2018):
Request for Advance Against Invoice (Presentation)
Approved expense 124,735.00
Expense presented 14,346.67 (11.50%)
Certified expense 0.00 (0%)

Summary of order No. 2 (12/18/2018):
Request for Advance Against Invoice (Certification)
Approved expense 124,735.00
Expense presented 14,346.67 (11.50%)
Certified expense 14,346.67 (11.50%)

Summary of order No. 3 (21.04.2019):
Request for Advance Against Invoice (Certification)
Approved expense 124,735.00
Expense presented 27,976.46 (22.43%)
Certified expense 14,346.67 (11.50%)