Meet Veripad, a 2017 alum and $50K winner that addresses the global counterfeit medication epidemic.
By combining the chemical testing of the Paper Analytical Device (PAD) with their innovative smartphone app and social network, the team has created a powerful medication authenticating tool that anyone, anywhere can use.
We had a chance to catch up with Y-Lan Nguyen, Chief Administrative Officer, about her experience going through the MC accelerator:
Take us back to MassChallenge Awards… what was going through your mind when you heard your startup name called to the stage?
We went into the MassChallenge Awards honestly not sure of what to expect. Especially because we knew we were a part of an incredible cohort of companies, so when Veripad was called to the stage it was both a relief and a surprise.
As a winner, how do you plan to use the cash prize to further accelerate growth?
We plan to use the cash prize to invest in our product development and expand our operations in order to best solve the problem of counterfeit and falsified medicines abroad.
What would you say has been the key driver of your success throughout the program?
I would say the key driver of our success has been our incredible advisors. They have been with us through thick and thin. Without them, we could not have pushed through obstacles that seemed impossible to overcome and keep going.
What has been the hardest lesson to learn?
The hardest lesson to learn is that we, like everyone else, has limits so it was just as important for us to face those limits and not be discouraged. It just meant we had to change direction.
What advice do you have for startups thinking about applying to MC?
My advice to startups thinking of applying to MC is to just do it! When we applied we weren’t sure if we would get in and how we would make it work because we’re based in NYC. Yet, we figured it out and it has been completely worth it! Even if we didn’t win an award, I greatly appreciate the community created by the amazing companies in our cohort.