Photo - SafeStamp Inc
46417

SafeStamp Inc

Nanotechnology Anti-Counterfeit Indicator

USA, California
Market: Medicine, Another
Stage of the project: Prototype or product is ready

Date of last change: 21.04.2020
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$ 100.000
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equalizer из 1000
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Idea

Global counterfeit medicine translates to 1 million annual deaths and $200 billion in lost pharma sales.Using proprietary (patent pending in +60 countries) non-replicable quantum nanotechnology, SafeStamp® allows users to verify for themselves the authenticity of their medications and even encourages it through a fun user experience—a seal for packaging. It's as simple as blow and touch, glow and know: breathe the indicator to make it glow orange, touch the indicator and watch it glow blue.

Current Status

We currently have two pre-orders from a large Ghanaian beverage conglomerate and an autonomous vehicle company. Both are for 110,000 units per month and 250,000 for the first year - with a much larger order anticipated for the second year. Additionally, we have multiple LOIs from multinational pharmaceutical companies for much larger quantities.

Problem or Opportunity

15% of medications around the globe are fake, containing no active ingredient, incorrect dosages, or contaminants like rat poison. This translates to 1 million annual deaths and $200 billion in lost pharma sales. Furthermore, the lucrative counterfeit trade enriches cartels, triads, and terrorist organizations around the globe. Often, it is impossible to tell the difference between real and fake medications, as counterfeiters can print exact replicas of packages and pills. Furthermore, other anti-counterfeiting technologies have a history of being copied, leaving the modern-day pharma industry with no foolproof way of separating the fakes fr om the real deal. This is wh ere SafeStamp® comes in.

Solution (product or service)

Using proprietary (patent pending in +60 countries) non-replicable quantum nanotechnology, SafeStamp® allows users to verify for themselves the authenticity of their medications and even encourages it through a fun user experience—a seal for packaging. It's as simple as blow and touch, glow and know: breathe the indicator to make it glow orange, touch the indicator and watch it glow blue.

Competitors

Current end-user anti-counterfeiting technologies includes holograms and mobile apps. There are also track & trace technologies implemented to reinforce supply chain security.

Advantages or differentiators

Current anti-counterfeiting technologies, like holograms, are easily replicated and face issues up and down the supply chain. Track & Trace technologies fail because retailers are not purchasing authentic drugs in the first place, whereas all forms of End-User technologies (holograms, mobile apps, etc.) have been counterfeited before. By allowing customers to test the veracity of their drugs themselves, our product cuts out any potentially corrupt middlemen.

Money will be spent on

The majority of the money will be spent on operating expenses, payroll, and R&D. A lesser amount will be allocated for IP protection, equipment, and travel.

Team or Management

Won the competition and other awards

Winner; University of Pennsylvania iDesign Competition
Attendee; White House Demo Day (on the President's birthday)
1st Place—Venture Category, Rice University's Veterans Business Battle 2019
University of Pennsylvania InSITE Fellowship
Wharton Innovation Fund
Pennvention Competition
Weiss Tech House
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Idea
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