iEthico’s funding award from Innovate UK enables the start up to further develop the drug shortage reporting tool for its medicine shortage platform, enabling the company to continue with their work in supporting patients and healthcare professionals during periods of medicine shortages.
iEthico is developing an AI powered digital platform to mitigate the increasing problem of global drug shortages to ensure optimal sourcing and distribution of existing supplies in a timely and logistically efficient manner. The final product will not only ensure medicines and reduce carbon footprint of pharmaceutical distribution and waste by improved efficiency.
As competition winners, the funding enables further development of the drug shortage reporting tool supporting a wider strategy towards improving access to lifesaving medicines and tackling the global issue of medicine shortages.
Debra Ainge, CEO “This funding allows us to take our work one step closer to realising our vision of a world where everyone has access to the medicines they need, when they need them. We would like to thank Innovate UK for their support in this important endeavour”
iEthico AI-powered pharmaceutical sourcing solution will provide pharmacists with a platform that allows them to obtain difficult-to-access medicines. By linking pharmacists with wholesalers across the world through its platform, iethico reduces time spent on sourcing medicines and creates a competitive marketplace that addresses drug supply chain deficiencies and saves pharmacies money. The company’s AI-powered solution will be able to give clear indications of medicine shortages and have the capability to predict future supply chain challenges – something which is not possible at present.
Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. We connect businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth. We fund business and research collaborations to accelerate innovation and drive business investment into R&D. Our support is available to businesses across all economic sectors, value chains and UK regions.
Innovate UK is part of UK Research and Innovation.
