"Throughout LaunchBox we learned how to mold our idea into a sustainable business. We were taught what should be contained in a business plan and how to create one.” - Pierce Dargan, Founder of Equine MediRecord, LaunchBox 2017
Founders: Pierce Dargan, Simon Hillary
One line description: Equine MediRecord aims to develop, sell and maintain a mobile application and website to allow proper recording of medicines administered to racehorses and other bloodstock.
Currently all veterinary regulatory documents in the equine industry are recorded on paper. Equine MediRecords first product aims to digitise the Medicines Register. Anything that is given to a racehorse that isn't either regular feed or water must be recorded in the Medicines Register, a book that is handed out by horse racing regulatory bodies to all registered trainers in order to allow them to record all medicines being administered. Failure to keep this book updated can lead to fines, or suspension of a trainer's' license.
Equine MediRecord develops, sells and maintains a mobile application and website to allow for the proper recording of medicines administered to racehorses and other bloodstock that is mandated under regulation. This is the first application of its type to be approved to replace the paper system by British and Irish regulators
Pierce Dargan comes from a family of race horse breeders and is a scholarship graduate of History and Political Science from Trinity College Dublin. He also holds a MSc in Business and Management. Having won the Alltech Innovation competition in Trinity in 2016, Pierce also has previous experience in sales with Red Bull and Tilt. Simon Hillary holds a B.A in Computer Science and Business from Trinity College Dublin. He has planned, developed and managed the rollout of a bespoke Electronic Programme Guide Generation software for Oireachtas TV. Pierce and Simon attended Blackrock secondary school and went on to study together in Trinity College Dublin.
The original idea was totally different to the current business, an e-commerce website comparing farm consumables such as feed, fencing and manure disposal. However, they discovered that this was not a viable business from talking to their target customers. Having listened to the concerns of their customers, they pivoted into a more viable business product.
LaunchBox gave the team space to work from and allowed them to work full time on the idea. It gave Simon and Pierce the framework to create a business plan to get investment. It also really helped to hone their pitch which has been really important for the team in securing investment. Another valuable lesson learned was the different ways to raise funding to support us at an early stage. Speaking of his experiences Pierce said "The LaunchBox program provided us with an invaluable network through which we were introduced to a number of VCs and angel investors. We spent a lot of time practicing and learning how to deliver a good pitch which has proven to be a real asset to us.”
Where are they now?
Equine MediRecord has achieved funding through Enterprise Ireland’s New Frontiers Programme and Innovation Voucher, a Priming Grant from Local Enterprise Office in Naas and sponsorship from Bank of Ireland. The company also was the winner of the Innovation in Business Award at the Dun Laoghaire Rathdown Chamber of Commerce Business Awards 2017 and the winner of the One Zero Startup Competition 2017, one of the largest sport-tech competitions in Europe.
They are also continuing to roll out testing of their mobile app into a further two yards as well as started testing their new web app platform. They have approval from the British Horse Racing Authority to replace the medicines register in the UK and have started discussions with other industry regulators about deploying the technology into their sectors.