Tim Peach, the Director of Ortho-Design, has emerged as the winner of the Aspen GIBS Route to Market Challenge 2024. The business specialises in designing and manufacturing orthopaedic and soft-tissue fixation devices with a focus on creating innovative biomedical implants and instrumentation that empower surgeons to deliver better care for their patients.
The challenge held in partnership with Raizcorp, identifies innovative, high-potential businesses with the capability to positively impact South Africa.
The challenge is designed to support and elevate emerging businesses in the medtech and health industries. Now in its second year, the competition offers participants invaluable mentorship and learning, as well as opportunities to connect with industry leaders and explore strategic partnerships.
“Promoting an environment of entrepreneurship, much like how Aspen was founded on entrepreneurial flair is an important mindset for economic growth,” explains Stavros Nicolau, Group Senior Executive at Aspen Pharmacare. “The South African economy has demonstrated pedestrian growth and underemployment. Entrepreneurs are the lifeblood of any economy and creating a multiplicity of SMEs would significantly dent South Africa’s unemployment statistics. Route to Market intends to create a real-life learning experience to stimulate and grow an entrepreneurial mindset for fledgling entrepreneurs in the healthcare sector.”
This challenge is pivotal for emerging businesses seeking to break into the medical industry. By offering mentorship, exposure to key decision-makers, and a pathway to integration with a major player like Aspen Pharmacare, the competition serves as a launchpad for transformative growth and innovation in the healthcare sector.
“Naturally, the entire Ortho-Design team and I are thrilled to have won. Our goal is to pioneer sustainable medical device supply in South Africa, and winning Aspen GIBS Route to Market 2024 is a significant step in the right direction,” says Tim Peach. “Having the opportunity during the competition to have in-depth discussions with some of the leading figures in South African business has already been immensely valuable and the exposure and connections gained through this challenge could open many doors.”
The top five contestants received guidance from Gordon Institute of Business Science (GIBS) experts on positioning their businesses for growth and pitching to funders and partners. They were then given the chance to test their skills with proposals to a panel of experienced business leaders, including Stavros Nicolau (Aspen), Allon Raiz (Raizcorp), Lee Naik (TransUnion), Tebogo Skwambane (WPP South Africa) and Nomsa Nteleko (OS Holdings). The top three businesses then advanced to in-depth interviews, where they showcased their potential to integrate with Aspen’s supply chain and forge meaningful partnerships.
For more information about the Aspen GIBS Route to Market Challenge and future opportunities, please visitwww.routetomarket.co.za/