GenMedMaking Medicines Affordable

Generic medicines are of the same quality & composition as the branded medicines & are available at cheaper rates.But it is not available in markets as doctors write commercial medicines like Ranbaxy & Cipla.The idea is to sell generic medicines nationwide & make medicines affordable.

Problem

1. High cost of medicines makes it hard for low income families to afford medication.

2. We often have leftover medicines which we throw away.

3. Lack of awareness about generic medicines.

Solution

1. Generic Medicines which have the same effect as branded medicines & is much less costly. 2. Leftover medicines can be processed to extract common salt & be used to make generic medicines 3. Marketing & awareness programs for patient awareness.

Unique Value Proposition

We sell generic medicines. They are equally effective as branded medicines & are available at much cheaper rates.

For instanceRs 1000 branded medicine are available at Rs 20which has the same salt(compound).

Unfair Advantage

1.First startup to take initiative to make generic medicines more reachable & affordable to masses.

2.Exclusive partnership with generic medical stores.

Customer Segments

Lower & middle income class of the society.

Channels

1. Content Marketing - We will write blogs about generic medicines & drive traffic to our online stores and app. 2. Consumer awareness Programs among low income families 3. Online & Offline Advertising about drugs & shops4. Affiliation with NGOs to spread awareness5. Tie-Up with NGOs. 6. Helpline Number.

Revenue Streams

1. Commissions from Sellers registered with us=3000*50*12 = 18,00,000.2. Selling data about people getting sick & metrics of disease type to research firms & survey institutes. 3. In App+Website Advertisements4. Expected Breakeven 4-5 years at an average commision of 7000 per month from more than 100 shops in Delhi/NCR.

Cost Structure

for Year 1 - Operational in Delhi/NCR Region

1. Hosting & server = 50002. Delivery Boys =20 + Salary =10*7000*12 = 8,40,0003. Content Marketing & Online Marketing = 2,00,0004. Consumer Awareness programs & Offline Marketing =10,00,0005. Staff Salary - Marketing + Sales = 20000*12 = 2,40,000

Key Metrics

Numbers of buyers from rural & urban areas.Increase in number of buyers of generic medicines per month.Numbers of people giving away leftover medicine for credit to buy generic medicine.

Resources/Statistics used(some weird images:)

Resources/Statistics used

This idea is manifested by Nauman,Palak &Radhika Dutt.