Queensland based company SmartVet has successfully entered the US Market with its product VetCap – A Smarter [and some might say more fun] way of administering parasite control to cattle.VetCap® uses a purpose designed gun-like applicator to discharge a soft gel capsule (GelCap) out to a range of about 10 metres. The GelCap bursts on impact, delivering a specially developed parasite control formulation onto the hide of the cow.
Managing Director of SmartVet, Grant Weyer, said “The Commercialisation Australia grant awarded during 2011 has enabled us to test launch VetCap in the largest global animal health market. The market response has been phenomenal, with approval rates of 80% recorded. Without this support, the shortage of early stage venture capital in Australia made accessing the US market beyond our reach.”
In the US the company have partnered with AgriLabs to distribute the product – AgriLabs are one of the largest distributors of animal health products with a team of over 1,200 sales representatives currently out in the market selling SmartVets new solution.
Ausindustry says “Parasites are the leading cause of economic loss in all of the major cattle producing regions. The horn fly causes the highest rate of productivity loss in North America with damage to the beef cattle industry estimated at up to $1 billion per year. SmartVet has the ability to move quickly to access other global markets outside of Australia and the US. Latin America also has severe fly control problems and this market runs approximately 300 million head of beef cattle”.
“Australia is a world leader in the beef cattle industry. Low labour availability and high costs make innovation a matter of survival. VetCap reduces the labour requirements by up to 75%. It is the only system offering the convenience of quickly dosing an entire herd out in the field. Timing the delivery of parasite control to when it will have maximum impact, unlocks the potential for significant production benefits. VetCap saves time, saves money and increases productivity,” said Mr. Weyer.
A fantastic example of an Aussie startup taking the world by “gun-point” with some help from Commercialisation Australia. Can’t wait to see what they do next!