Innovation through entrepreneurship is the engine of a demanding and fast-growing global economy. Therefore, entrepreneurs who use their creativity, knowledge and experience create innovative ideas and products and grow faster than their competitors while increasing their profitability. Innovation in the orthopedic industry is specific because science drives development and an innovative idea leads to an improvement in the quality of life for many people. This research focuses on an innovative business solution related to smart orthopedic insoles. Health problems related to foot deformities are becoming increasingly common, and conventional orthopedic insoles are often not effective enough in treatment and rehabilitation. The development of an innovative solution involves the integration of sensors into orthopedic insoles that enable precise computer measurement of the distribution of body weight on the feet. This innovation not only ensures stability of the foot, but also collects important data through sensors. The measurement results can be accessed via a special application that gives users, orthopedists and physiotherapists a deeper insight into foot problems. This approach enables personalized and more effective treatment and rehabilitation, as well as an overall improvement of the user’s health. It is important to emphasize that this research does not simply invent a technical solution but uses existing innovative technical solutions as a basis for developing an innovative approach to the problem of foot deformities and combines them into a completely new functional and innovative product. This paper applies the knowledge acquired while studying Entrepreneurial Management to a concrete example, with the aim of creating assumptions for the growth of the observed company in order to understand the context of innovation and entrepreneurship.