RealTime IT News

Vertical Markets Launches First Online Community

[Sydney, AUSTRALIA] Business-to-business (B2B) marketplace developer Vertical Markets will today launch its first online community, vLifeScience, aimed at businesses and professionals who operate within the life sciences industry.

vLifeScience will offer a unique set of products and services across a range of disciplines, aiming to reduce the time people in the industry spend researching and accessing information, products and services in a transaction and interaction environment.

Vertical Markets said the life science community spend is valued at approximately AUS $2 billion a year, with the average life scientist spending between 4 and 8 hours a week communicating with more than 50 different suppliers and distributors to make procurements decision.

Vertical Markets estimate 10-40 percent inefficiency within the supply chain, which the B2B developer aims to reduce for users.

"Our main point of differentiation with vLifeScience is that we are both transaction and content oriented," said Vertical Markets chief executive officer Peer Nielsen. "Unlike other so-called marketplaces, we can offer a complete e-commerce solution."

Vertical Markets has developed vLifeScience with IT partners Hothouse, Nextracom and Southrock since acquiring a number of offline trade magazines to provide content.

Visitors to vLifeScience will access international and Australian news, funding, grants and patents information, job-search capabilities, manufacturers' product data and catalogues, conference dates and registration details, online training and product 'buy and sell' auctions.

vLifeScience represents the launch of the first of Vertical Markets' B2B marketplace, with others to follow in the government, engineering, veterinary and electronics sectors.