Amazon Names TraceLink Life Sciences Cloud as Start-Up Challenge Finalist10-Jan-2013
TraceLink announced today that the TraceLink Life Sciences Cloud has been named a finalist by Amazon.com in the 6th AWS Start-Up Challenge. TraceLink’s cloud-based application platform, developed to protect life, enable health, ensure compliance and improve profits in global Life Sciences, was selected from over 2,500 global entries based on product capabilities, use of Amazon AWS technology and management team vision.
“Counterfeit drugs threaten the safety of millions of people each year. Eighty percent of medicines are consumed by only 15 percent of the global population while over 2 billion patients lack access to essential medicines. Out-of-stocks have risen 500 percent in the past few years driven by quality issues in outsourced production.” said Shabbir Dahod, President and CEO, TraceLink. “We developed the Life Sciences Cloud to directly address these systemic problems by creating a globally integrated virtual network that protects integrity and improves performance from ingredient to patient.“
The TraceLink Life Sciences Cloud enables complete global connectivity, visibility and traceability of pharmaceuticals from raw materials through production, distribution and delivery to the patient. With a single point and click connection, companies gain shared visibility and complete collaboration across all supply, production and distribution processes with each and every partner in their network.
Watch this video where TraceLink's President and CEO Shabbir Dahod and SVP of Product and Cloud Engineering Peter Spellman describe the company's vision and how today's global life science industry challenges and Amazon AWS cloud technologies informed the design of TraceLink's network visibility, traceability and collaboration solutions.
The global collaborative business network created by the TraceLink Life Sciences Cloud helps pharmaceutical companies, CMO/CPO supply partners, wholesale distributors and pharmacies to:
- Ensure global compliance with pharmaceutical track and trace, serialization, ePedigree and governmental reporting regulations for the US, European Union, China, India, Turkey and other countries
- Protect lifesaving medicines from drug counterfeiting, theft and diversion
- Reduce the risk of drug shortages with improved supply planning and external quality management
- Improve free cash flow and minimize time to market through greater global supply chain efficiency
- Improve direct-to-patient communication via mobile devices
“The TraceLink Life Sciences Cloud was designed to take full advantage of the AWS platform, giving us the scale and reach we need to serve all participants in the global Life Sciences supply network.” added Mr. Dahod. “To cost-effectively manufacture and deliver the billions of life saving drugs needed each year requires thousands of Life Science companies and millions of users to access, analyze and manage the billions of transactions and petabytes of data generated. AWS’s global elasticity, data security, utility compute model and on-demand resources enable us to manage this complexity while serving the largest pharmaceutical company and smallest independent pharmacy on the same network platform.”
TraceLink will be presenting its vision of a high performance, transparent pharmaceutical supply chain at the AWS Global Start-Up Challenge Finale Celebration in San Francisco on January 24th.
TraceLink protects life, enables health, ensures compliance and improves profits for companies across the global Life Sciences network through the TraceLink Life Sciences Cloud. The TraceLink Life Sciences Cloud is a cloud-based application platform that enables complete global connectivity, visibility and traceability of pharmaceuticals from raw materials to patient. A single point and click connection to the Life Sciences Cloud delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. Businesses across the globe rely on the TraceLink Life Sciences Cloud to meet strategic goals in ensuring global compliance, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com.
TraceLink is funded by FirstMark Capital. Based in New York City, FirstMark Capital is an early stage venture capital firm investing in visionary entrepreneurs who are creating new markets with innovative technology solutions or fundamentally changing existing markets by applying a fresh approach or new business model. FirstMark partners early in a company’s lifecycle, offering deep industry insight, a broad network of relationships and the operational expertise to build lasting businesses. Select historical investments include Riot Games (Acquired by Tencent); Duck Creek Technologies (Acquired by Accenture); Netgear (NASDAQ: NTGR); Boomi (Acquired by Dell); StubHub (Acquired by eBay); Netegrity (Acquired by CA); OutlookSoft (Acquired by SAP); and Navic Networks (Acquired by Microsoft). Current investments include: Pinterest, Knewton, Aereo, SecondMarket, Shopify and Lumosity. For more information, visit: www.firstmarkcap.com.