My Pharmacy

My Pharmacy: Solidarity has no expiration date!

Athens, GreeceAthens, Greece
Year Founded:
2013
Organization type: 
for profit
Project Stage:
Growth
Budget: 
$10,000 - $50,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

My Pharmacy is the only mobile application worldwide that contributes to efficient medication management and builds a medicines donation network to people who need medical care. Check which medicines you own, how many of them and be aware of which of them are going to expire; using or donating them.

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

we could be notified for medicine' expiration and share them with people in need
About Project

Problem: What problem is this project trying to address?

A year ago I observed a paradox phenomenon. From the one hand the number of medical unprotected people in Greece is increasing every day and from the other hand about one billion medicines end up to the rubbish bean every year only in Greece; and most of them because we don’t release they have been expired. Also, many times we find out that some of our medicines have expired, without even noticing it, thereby we are obliged to dispute of them.

Solution: What is the proposed solution? Please be specific!

Taking into consideration these facts we thought that as a group of young people we had to find a direct and effective solution to deal with this phenomenon. We thought that technology and specifically mobile applications will be the best solution, as we would easily address to millions of people. So, we started the design plan of an application for smart phones and tablets which will have as a fundamental function to keep record of supplies, notifying the consumer of a forthcoming expiration of the medicines and finally the tracing of the nearest place for collecting medicines, through “Share My Pharmacy” Network, in order to donate these medicines you don’t need or they will be expired.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Looking back on my family’ daily life, I was finding many expired medicines, which I supposed to throw in the trash. This is a difficult time, because you have to throw medicines, which cost and at the same time don’t be used. I remember that one day I wasted 30 boxes with medicines and 200€, while they are 3 million medical unprotected in Greece. So, if we have already developed, I could save this money without wasting medicines, but using them (by notification reminder) or donating them to people who need medical care (by “Share My Pharmacy” network). My Pharmacy, also, could have significant impact on economic, social and environmental level.

Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.

Corporate Social Responsibility • Financial benefit The expiry of medicines only costs in Greece 1 billion euros every year. “My Pharmacy can reduce costs due to the unnecessary expiration of medicines, both individually and at a state level. • Environmental benefit Estimated that 70% of expired medicines end up in trash cans, since they aren’t recycled. “My Pharmacy” will help to reduce the bad effects in the environment and the life circle. • Social benefit Building the “share my pharmacy” network, we seek to collect a sufficient number of medicines in collection points. At the same time, we hope to sensitize the society on the development of voluntary actions, both individually and socially. Note that the use of the application can help in other areas as well, such as in saving time or at the scheduling of markets.

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

Our main goal is to turn My Pharmacy to international markets. We intend on developing a similar software system for the medicines collection points. When this system runs smoothly in Greece we aim to a “direct interaction” between them and the collection points with the users. Therefore, they will know where there is a shortage or a surplus of medicines. The next years we are looking forward to exporting our idea in a franchise way in countries abroad. This will start with two countries the 1st year, five new countries the 2nd year and we estimate in the next 7 years 40 participants countries
Sustainability

Financial Sustainability Plan: What is this solution’s plan to ensure financial sustainability?

Depending on the chosen advertisement package (Small, Medium, Large), each company receives advertising space on our website and Social Medias, the advertising campaigns of "My Pharmacy" and timely advertisement in the application. The cost per download for companies amounts to 0.35, 0.15 and 0.075 cents; according to advertisement packages. At the first months, the sale of advertisement packages will generate revenue of 3,000 Euro per month.

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

After an internet research we found few applications which deliver medication management, thought expiration reminder. But, none of them builds a medicine’ collection network for people in need. The emergence of rough competition is considered as a future risk. For these reasons, we intend to add new modes in our application, “direct interaction” and “emergency alert” and make My Pharmacy friendlier to the users. Also we will upgrade our services for “specialized” users, by offering a “premium” paid application that will provide users with more options and thus ensuring more profits for us.
Team

Founding Story

This story starts a year ago when I had the opportunity to participate with my school in “Young Enterprise” Programme held by Junior Achievement. It was a great chance for us to come up with an innovative idea, which we had to develop in a sustainable company. Then, the idea of “My Pharmacy” came up! In this way, we collaborated with teammates, we made a business plan and undertook professional responsibilities. After gaining the “Most Innovative Project” award in Greece, we represented our country in “Young Enterprise” Europe Final, which held in Latvia. It was an amazing experience and we managed to win the “Social Responsible Business Award”;

Team

Our team consists of two young entrepreneur, in full time period, who have a vision to change people's life though their work. We are both 18 years old and students of NTUA University in Greece. Giannis Batas is the Founder and has also run Food Expiration Date and Electrometer. Leonidas Tsaganos starts work for My Pharmacy the last year as Financial and Business Growth manager and has also run IstART.
About You
About You
First Name

Giannis

Last Name

Batas

About Your Project
Organization Name
How long has your organization been operating?

Project
Organization Country

, AT, Athens

Country where this project is creating social impact

, AT, Athens

What awards or honors has the project received?
Funding: How is your project financial supported?

Individuals.

Supplemental
Sector

Health and Hygiene, Waste and Packaging.

Audience: Who have you identified as your customer/recipient groups and do these groups value your solution for different reasons? How do you engage different customer/recipient groups to deliver your solution?

We found that they are an increased number of smartphones users, in ages 35-55, and they have a big problem with expired medicines. Therefore, we set this age group as our target group. Alongside, young people (18-35 years), which are the most users of smartphones, are our target-challenge. For this purpose, we intend to making agreements with big stores to gather medicines from customers and in return give them discount coupons for their markets.

Scaling the solution: How would the prize money and publicity help you to achieve your objectives over the next two years?

We are searching for 25,000 euro funding for:
• Development of main application in cloud computing technology 7000 1-3Months
• Development of «premium» application 3500 11-12Months
• Constant operation and technical support of both applications 2500 Over 2years
• “Research and development” 2000 (demo, beta) 1st Year
For the above we received offer by ExcIT company
• Promotion (average offer by advertising agencies) 4000 5-6 and 13-14 Months
• Expand My Pharmacy in foreign countries. 6000 2nd Year
Since ChangeMakers competition focuses to connect the youth innovation with social entrepreneurship, we think that is the right opportunity to overcome the school level. So, we want make it known to more users and get more feedback.

Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered

The primary idea of My Pharmacy is “Food Expiration Reminder” which came up in our INTER.E.S.T competition participation. Finishing their purchase, users will take a qrcode shot in receipt. Then all food will enter in app and will be notified for its expiration. I participated, in “Hello Tommorow Challenge” with Electometer; A smart service involving the Electrometer device and smartphone in order to track the electricity usage and cut down bills

Are you are eligible to attend the Accelerator event in Cambridge and subsequent events in London, UK in January, 2015?

yes

Will you require a visa to enter the UK?

Are you are a current Unilever employee?

randomness