Mydex CIC, founded in 2007, is an asset and mission locked social enterprise, working to create a secure personal data and identity infrastructure that can transform the delivery of public services and the efficiency and effectiveness of the digital economy and society as a whole.
Ours is a classic mission as laid out by Professor Mazzucato. It has a highly specific goal: the creation of a safe, citizen-empowering, efficiency-driving data infrastructure. It encompasses multiple sectors, such as financial services, public administration, health and social care, education. It involves multiple (different, but related) use cases, including management of consents and permissions and GDPR compliance and use of data for multiple purposes (administration, applications, insights and diagnostic, operational delivery of services etc). And it delivers multiple benefits to multiple stakeholders and the economy as a whole.
However, even though the benefits of such an approach are very large, Mydex CIC has the longer term impact and social value that its transformative approach offers organisations and society as a whole. Traditional commissioning and procurement approaches look at a short term agenda and whilst we can demonstrate strong return on investment and impact in the context of a specific transaction or project the broader social implications and value is far more significant and as wider adoption occurs social value increases exponentially
All of Mydex’s current projects, in areas such as improving cancer journeys, debt advice and poverty alleviation, and tackling social exclusion, are based in Scotland, helping public/third sector service providers achieve order-of-magnitude reductions in the costs of providing their services, while delivering better outcomes to citizens. But Mydex’s ability to spread and deepen these benefits is severely constrained because we lack the funds we need to sacle.
We are designed to be sustainable, highly scalable and address long term systemic challenges. We are focus ed on removing friction, effort, risk and cost and providing alternative means of value exchange outside of traditional market models.