Jobs
In Bangladesh, a business is attempting to sell lower-cost, safer pharmaceuticals.
Medical facilities that are fully operational and well-stocked are critical for any country, especially as the globe grapples with the Covid-19 epidemic. Bangladesh, on the other hand, does not have that luxury, and it is also dealing with the issue of counterfeit drugs.
Rosina Mazumder, together with Fahad Hossain, Shamim Hasan, and Yawar Mehboob, founded Arogga last year in an attempt to give authentic drugs to people in the nation. Mazumder is the founder and CEO of the company, which provides low-cost pharmaceuticals purchased directly from pharmaceutical companies.
What problem is your startup attempting to solve?
- Mazumder: Getting all of the medications on your prescription usually requires going to two or three pharmacies. This is due to the fact that pharmacies are tiny and understocked. Furthermore, counterfeit drugs account for 20% of all pharmaceuticals sold in Bangladesh, and this is a major issue.
Who is your ideal client?
- Our clients are folks who are in need of medications. We've discovered that a substantial percentage of our regular clients have chronic conditions that need monthly medication.
What is your startup's approach to resolving the issue?
- Genuine drugs are delivered by Arogga, which are purchased directly from the manufacturer and offered at a discount. It is a comprehensive healthcare platform that includes, among other things, medical consultations, laboratory tests, and insurance.
Why is now the best moment to launch your business?
- We are making an impact by offering access to telemedicine, which is an unexplored market.
Why is your team more suited to solving this issue than others?
- Fahad and Shamim spent two years analyzing the difficulties of Bangladesh's pharmacy sector, including logistical and supply chain issues, as well as the scarcity of legitimate drugs.
- Shamim, our chief technology officer, comes from a software development experience, while Fahad comes from a sales and operations experience. Following careers in investment banking, Yawar and I operated a global firm for nearly ten years.
What are the primary competitors who provide a solution similar to yours? And how does your business vary from theirs?
- We are presently market leaders, with a functioning product and well-established operations. There are a few additional smaller competitors, but their assortment is restricted and they only deliver locally.
How can you determine whether your product and market are a good match?
- Since its inception in December 2020, Arogga has received over 6,500 orders and is growing at a rate of 60% each month. We have preliminary data that shows that 55 percent of our regular consumers have boosted their monthly purchases. This implies that consumers find our service to be beneficial.
How do you intend to protect your startup from competitors?
- Over the previous two years, we've developed solid partnerships with important manufacturers and have a thorough grasp of the medication supply chain process. Our business approach enables us to supply legitimate medications to clients at lower rates and with more convenience, giving us a two-year head start on any newcomers.
What has been the most memorable and/or crucial occasion in your company's history?
- The money from Falcon was extremely beneficial to the company. This year, winning the Tech in Asia Virtual pitch night was also a highlight. It was a particularly memorable victory because it was my first time competing in such an event.
