RxAll Inc., a company co-founded by Lagos Business School (LBS) alumnus, Adebayo Alonge of the Full-time MBA 11 class, has emerged grand winner of the 2019 Hello Tomorrow Challenge.
Alonge’s company, RxAll was picked out of 4,500 deeptech startups from 119 countries across the world that applied for the 2019 edition of the Hello Tomorrow Global Challenge, a worldwide renowned science and technology startup competition explicitly designed to address the needs of deeptech entrepreneurs across several different industries and technologies.
The Challenge gives scientists and deeptech entrepreneurs around the globe a platform for their research and projects, providing equity-free prize money as well as other funding opportunities, global visibility and connections with key players in the deeptech innovation network. 80 finalists were chosen from 12 categories including Aeronautics, Data & AI, Digital Health, Energy, Food, Agriculture & Environment, Global Health and others.
RxAll Inc. has built an Artificial Intelligence (AI) platform that uses a proprietary molecular sensor device known as RxScanner to carry out non-destructive drug authentication. The RxScanner is a portable, easy-to-use nanoscanner that is used in testing drugs for quality in real time thus preventing patients from using counterfeit products.
Receiving the €100,000 award at the Grand Finals of the Challenge in Paris, Alonge said, “It has been a long journey for me, from 15 years before surviving death from a fake drug to standing in front of you and letting you be in my dream and the dream of my co-founders to make sure people across the world are safe from fake medicine.”
“My goal is to use science and the solution we have today to make sure no one has to go through the trauma that I experienced. Therefore, I invite everyone here today to join us in the vision of using deeptech to achieve global social impact.”
Alonge, who is a pharmacist and marketing development professional, also holds a business degree from Yale School of Management.
Watch Alonge receive the award here:
[#BNPPEvent] When #deeptech finds its way to a #safer future: Today, half of drugs in Africa are fake drugs. But tomorrow, thanks to @RxAll_Inc & @adebayoalonge, handheld nanoscanners can ensure drug quality in real time! They won BNP Paribas Grand Prize at @hellotmrc: € 100K 👏 pic.twitter.com/uSnhnrCLVp
— BNP Paribas Group (@BNPParibas) March 19, 2019
“My goal is to use science and the solution we have today to make sure no one has to go through the trauma that I experienced."