Nigeria - Startup under 3 years old

Describe your project or startup in a few words

CARETRACE is a chronic disease care platform that provides affordable health insurance and continuous monitoring for diabetic and hypertensive patients who have to pay out of pocket for insulin, BP/diabetes drugs, and BP/diabetes monitoring devices.

01.01 Describe your startup in more detail

At CARETRACE, we are providing digital tools for diabetic and hypertensive care management. We have designed a diabetes risk calculator in collaboration with the National Hospital Abuja, and Irrua Specialist Teaching Hospital, Irrua, Edo State. We have also designed a continuous glucose monitor for diabetics in urban centers to use in tracking their blood sugar levels in real time, which connects with the CARETRACE app on their phones. On the CARETRACE App, patients can also get access to personalized meal plans, fitness plans and medication plans. For patients in rural communities, we have designed the CARETRACE HealthInsurance and Rural Partnership Program which allows community pharmacies and small clinics to act as hubs where patients can walk into and receive continuous care for their diabetes and hypertension. Through their CARETRACE Health Cars, patients can save on a daily or weekly basis to cover basic health needs starting from as low as N600 per month.

01.02 What is the main problem you are trying to solve?

For diabetic and hypertensive patients in underserved/low income communities in Nigeria, we have realized that the major challenge is lack of continuous testing tools and health insurance and this makes them pay out of pocket for insulin, BP/diabetic medications, and blood pressure/blood sugar monitoring devices, and also hinders them from properly monitoring and managing their health. To solve this, we started CARETRACE, a chronic disease care and health insurance platform in partnership with pharmacies and small clinics in local communities where we place continuous monitoring devices so patients can come, and check their blood pressure and get their medications/supplies at affordable costs, and they can contribute daily into their health cards just like in esusu, which is perfect for farmers and traders, who are predominantly those in our local communities.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

CARETRACE offers significant benefits for diabetic and hypertensive patients: Affordable Health Insurance and Savings: CARETRACE Health Insurance and Rural Partnership Program allows patients to save as little as N600 per month via health cards, reducing out-of-pocket expenses for medications and monitoring devices. Continuous Monitoring and Personalized Care: The CARETRACE app provides real-time blood sugar tracking, personalized meal, fitness, and medication plans, ensuring patients manage their conditions effectively and maintain a healthy lifestyle. Accessibility in Rural Areas: By partnering with community pharmacies and clinics, CARETRACE ensures that even patients in underserved areas have access to continuous care, affordable medications, and essential monitoring tools, bridging the gap in healthcare accessibility.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

CARETRACE is designed to serve diabetic and hypertensive patients in Nigeria, both those in urban and those in underserved and low-income communities. The targeted beneficiaries are detailed below: Urban Diabetic Patients: Individuals in urban centers who need continuous glucose monitoring and access to personalized care plans via the CARETRACE app. Rural Patients: Diabetic and hypertensive patients in rural communities who struggle with the high cost of medications and monitoring devices. They benefit from CARETRACE's Health Insurance and Rural Partnership Program, enabling affordable care and savings through community pharmacies and small clinics. Low-Income Individuals: Farmers, traders, and other low-income earners who can save daily or weekly on their CARETRACE Health Cards to cover basic health needs, ensuring continuous and affordable management of their chronic conditions.

01.05 When was your company established?

2022-07-07

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

1

01.08 Among the other owners, how many are female?

1

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Deborah Aderibigbe is the CoFounder and CTO of CARETRACE. She handles product development. She has a degree in Computer Engineering from the University of Ilorin, Nigeria. She is a skilled software developer with over 5 years of working experience in web and mobile development languages including HTML, CSS, JavaScript, and mobile frameworks especially ReactNative. Deborah leads our engineering team, handles software development, and collaborates with our OEM partners for seamless hardware integration. Here is the link to her linkedin account https://www.linkedin.com/in/deborah-aderibigbe/

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://www.linkedin.com/company/caretrace

01.11 Which industry best describes your project?

f) Healthcare (healthcare equipment and services)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

By offering affordable health insurance and continuous care, we reduce out-of-pocket expenses, which are a major cause of poverty among these patients. CARETRACE is contributing to SDG 1 (No Poverty) by alleviating the financial burden of chronic disease care for diabetic and hypertensive patients in low and middle-income communities. CARETRACE's Health Insurance and Rural Partnership Program enables patients to save small amounts daily or weekly, ensuring they can afford essential medications and monitoring devices. This approach prevents financial hardship, promotes economic stability, and helps break the cycle of poverty, supporting the broader goal of poverty eradication.

02.02.01 My startup contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

7 - Strongly Agree

02.03.02 Good health and well-being - Justification for my startup

Continuous glucose monitoring has been shown to improve diabetes management and reduce complications, leading to better health outcomes. Our micro health insurance model ensures affordable access to essential medications and monitoring devices, promoting sustained health management. Additionally, tailored meal and fitness plans help patients maintain optimal health and prevent disease progression . By integrating these elements, CARETRACE reduces the diabetes burden and enhances overall well-being in African communities. We significantly contribute to SDG 3 (Good Health and Well-being) by providing continuous glucose monitoring, micro health insurance, and personalized care plans for diabetic and hypertensive patients.

02.04.01 My startup contributes to the Quality education goal

1 - Strongly Disagree

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

1 - Strongly Disagree

02.05.02 Gender equality - Justification for my startup

02.06.01 My startup contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

1 - Strongly Disagree

02.08.02 Decent work and economic growth - Justification for my startup

02.09.01 My startup contributes to the Industry innovation and infrastructure

1 - Strongly Disagree

02.09.02 Industry innovation and infrastructure - Justification for my startup

02.10.01 My startup contributes to the Reduced inequalities goal

1 - Strongly Disagree

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

1 - Strongly Disagree

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

1 - Strongly Disagree

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

1 - Strongly Disagree

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

1 - Strongly Disagree

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

1 - Strongly Disagree

02.17.02 Partnerships for the goal - Justification for my startup

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

5

06.02 The product/service represents an entirely new type of product/service.

5

06.03 The product/service could be described as a new technology.

4

06.04 The product/service is an improvement on an existing product or service.

6

06.05 The product/service could be described as an extension of a range of products or services.

6

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

7 - Strongly Agree

06.08 Justification for my startup

CARETRACE is a product that is responding to the demands of patients who want easier and safer ways to manage their blood sugar without having to pierce themselves regularly. Also making it super easy for diabetic patients in rural areas to be able to pay for testing, medication and other necessary resources that they need, instead of paying out of pocket

06.09 Competitive Analysis

Wella Health, and Diatron Health are leading ompetitors. our advantage is that while they just offer diiabetes remission programs or micro insurance programs, we are the first in Nigeria to offer remote patient monitoring, continuous glucose monitoring, diet and fitness planning and micro health insurance for diabetes and hypertensive patients, which allows us to narrow down to our target audience and solve all the problems that they face in one go.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?

By having a female cofounder, and by speaking with the ladies in our team (especially our operations associate who works directly with me) to keep an eye out for how things are done in a startup/business so that they could use what they learn from us, to go start their own business, win grants, generate revenue and more