The All India Institute of Ayurveda (AIIA) has collaborated with Startup India to launch an “Ayush Start-up” challenge to encourage early-stage startups and individuals working in the Ayurveda sector.
The participants will enter the competition in any of the 3 categories, Ayush Food and Innovation, Ayush Bio-Information and Ayush IT Solutions. The winner in each category will get a cash prize of Rs 1 lakh and the runner up will receive Rs 50 thousand. The winners will also get incubation support from AIIA. This will help them to access the resources of AIIA across the 3 wings of the university. 3-5 individuals can also participate in a group but they will have to register a legal entity before the cash prize is disbursed to them.
Dr Tanuja Manoj Nesari, Director, AIIA said, “We are building the AIIA as an institution of eminence under the guidance of the 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 current value of the Ayush Market is said to be $10 Billion and it is expected to increase by 50 per cent in the next 5 years. India is currently the second-largest exporter of Ayurveda and alternative medicine. Data from “A2Z Market Research” and “Global Ayurveda Market research report” suggests that there is an increased demand for alternative medicine since the Covid-19 outbreak. India is expected to be the global leader in the sector with its ancient Ayurveda medicines.
India’s major AYUSH export partners include UAE, Russia, USA, Japan. This year’s budget has increased the allotment of funds for the Ayush sector. This has encouraged more companies to align their products according to the demand of the AYUSH sector along with traditional players like “Patanjali” and “Dabur”. AIIA and the ministry of Ayush have been working constantly to facilitate research and development and tap the full potential of the industry.
boAt and BookMyShow Navigate Troubled Waters Amidst Rapper Shubh Controversy
Will Torrent Pharmaceuticals Acquire Cipla? Is the Indian Pharma Giant in Financial Trouble?
Tata Nexon Facelift Unveiled: A Game-Changer in the Compact SUV Segment
Royal Enfield: The Regal Journey of Luxury Motorcycles
Physics Wallah Edtech: A Revolutionary Success Story
From YouTube to Billion-Dollar Valuation: Explore how Physics Wallah transformed India's EdTech landscape with affordable education.
Ola Electric Temasek Fundraise: Ola Electric Mobility Pvt Ltd Receives $140 Million Boost from Temasek to Accelerate Growth
Snitch, a fashion label for Men’s wear, records ARR of a whopping 100 crores in Q4 of FY’22
D2C fashion brand Snitch attracts an annual return of Rs. 100 crores within 2 years of its inception, aims to become India’s biggest fashion brand for men.
MediBuddy Secures $18 Million in Funding for Expansion and Acquisitions
Viacom18 Secures TV and Digital Rights for Indian Cricket Team’s Home Matches: A Game-Changer for Cricket Broadcasting
Pepsi Celebrates its Historic 125th Anniversary with 125-Day-Long Campaign
Pepsi Celebrates Its Historic 125th Anniversary with 125-Day-Long Campaign
Latest6 months ago
Ola S1 Electric Scooter: Everything You Need to Know About the Recall
Analysis5 months ago
Aryan Khan’s clothing collection D’Yavol X: The Devilishly Luxurious collection sold out in a day even with whopping prices!
Analysis8 months ago
Organic Food Industry in India: A Booming Industry with Huge Potential
News7 months ago
ReviewAdda By Rahul Jain: Helping Students Navigate Confusing Admission Processes at Private Universities
Analysis6 months ago
UpGrad vs Eruditus: Contrasting revenues in FY22
Analysis5 months ago
Yulu Revolutionizes Urban Transportation in India with Strategic Partners
Stories5 months ago
BlissClub Founder Minu Margeret: Bringing Inclusivity in Activewear
News5 months ago
Reliance, Circle E Retail in Joint Venture to Aid Hamleys and Rowan Toy manufacturing