In accordance with the Central Government’s initiative to encourage start-ups and start-up culture across the country, All India Institute of Ayurveda (AIIA) in partnership with Startup India has commenced ‘Ayush Start-up challenge’ to encourage early stage start-ups and individuals working on innovations in the Ayurveda sector and alternative healing. The winners of ‘Ayush Start-up Challenge’ will get both a cash prize and incubation support from AIIA.
Ayush Startup Challenge. To apply click here. https://t.co/NgpIeQrE7H pic.twitter.com/vCZinAHW9f
— All India Institute of Ayurveda, New Delhi (@AIIA_NDelhi) February 21, 2022
The All India Institute of Ayurveda (AIIA) has been imagined as an Apex Institute for Ayurveda. It is an Autonomous Institute under the Ministry of Ayush. It targets bringing a cooperative energy between the customary thinking of Ayurveda and the advanced instruments and innovation.
The Ayush market is at present assessed to be around $10 bn and it is projected to see a 50 percent increment throughout the span of the following five years, said a statement issued by the AIIA Tuesday.
Speaking on the occasion, Dr. Tanuja Manoj Nesari, Director, AIIA said, “We are building AIIA as an institution of eminence under the guidance of Ministry of Ayush with three key wings of medical science under one roof – academics, scientific research and clinical practice. To fully realize the potential of the Ayush science we need a thriving ecosystem with players operating across the entire value chain. This is where start-ups can play an important role in developing new solutions. The present initiative aims to not just identify promising start-ups and reward them, but also provide them incubation support through guidance and skill development which will go a long way in helping these start-ups realize their next phase of growth”.
There are three entry categories for participating start-ups – Ayush Food Innovations, Ayush Bio-instrumentation (Hardware solutions) and Ayush IT Solutions (Software solutions). There will be two winners in each of the 3 categories with a cash prize of Rs. 1 lakh for the winner and Rs. 50,000/- for the runner-up. Therefore overall, there would be 6 winners. Both early-stage start-ups as well as individuals as a group of three to five(3-5) members can participate in the ‘Ayush Start-up Challenge’.