Reference area

South

Scope

Biotechnologies/Pharma

1000Farmacie SRL

1000Farmacie SRL

Proposer

Nicolo Petrone

Other members

Mohamed Younes, Alberto Marchetti

Business Idea

1000Farmacie was born out of the need to offer consumers a single online platform for purchasing pharmaceutical products. To date, the e-pharmacy market is fragmented. On the consumer side, the price of products can differ by up to 70% between pharmacies, the availability of several medium to high quality products is limited in individual pharmacies, and chronic patients and caregivers would like a faster and more efficient method of managing prescriptions. On the pharmacy side, e-pharmacies currently in the market are not capital efficient, as there are several costs related to inventory and warehouse management, and they do not market internationally. In addition, 80% of independent pharmacies do not have the capabilities to become scalable online due to marketing complexity and competition from large-scale retailers.1000Farmacie.it is the marketplace of authorized pharmacies distributed on the national territory that consolidates the catalogs of over 70 independent pharmacies offering customers a greater assortment and more competitive prices (on average 33% discount compared to offline). The delivery takes place within the day in the main Italian cities (or within 48h at the latest) through a pick-up organized by 1000Farmacie.The marketplace is integrated with the pharmacies' management systems through the Logistic Tech platform. The service also uses an Ad.tech algorithm for advanced bidding on Google shopping.The startup is also able to satisfy the market segment related to medical prescriptions, currently forbidden in the sale through e-commerce.1000Farmacie creates a network effect between consumers, brands and pharmacies as, through the collection and analysis of data, it is able to return value to consumers in terms of delivery time, product offering and customization, and value to pharmacies in terms of ad hoc marketing, better pricing policies and inventory management.

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