Connect with us

Campaign

AIIA announces “Ayush Start-up” challenge to encourage participation in the $10 Billion Ayush Market

Published

on

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.

Read more brand NewsStories, and market analysis on various industries from automobiles to fashion at Brandz Watch | Follow us on Twitter & Youtube

Continue Reading
Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Zomato Faces Backlash Over New Pure Veg Fleet: Embraces 'Red Reality'
Analysis2 days ago

Zomato Faces Backlash Over New Pure Veg Fleet: Embraces ‘Red Reality’

Apple Google AI Deal: 21st Century Tech Collab to Integrate Gemini-Like Features in iOS
Analysis2 days ago

Apple Google AI Deal: 21st Century Tech Collab to Integrate Gemini-Like Features in iOS
With this deal, Google will be able to tap into Apple’s 1.4 billion active user base worldwide and expand the reach of its AI, Gemini, to a new stratum of users.

The 'Paramount' Sale of Viacom18's 13.01% Stake to Reliance Establishes Mukesh Ambani as Asia's Media Mogul
Analysis2 weeks ago

The ‘Paramount’ Sale of Viacom18’s 13.01% Stake to Reliance Establishes Mukesh Ambani as Asia’s Media Mogul
Paramount Global has been aiming to improve its balance sheet after ending last financial year with a long-standing debt of $15 billion.

Adani-Qualcomm Meeting Sends Sparks Across the Indian Tech Ecosystem
Latest2 weeks ago

Adani-Qualcomm Meeting Sends Sparks Across the Indian Tech Ecosystem

91Club offers a unique blend of entertainment and monetary rewards, making it a preferred choice for 2 million players.
Latest3 weeks ago

91Club: The Gaming Platform To Earn Real Money
Play and Win: 91Club, Where Gaming Means Real Money

Daman Game is a platform offering many games designed to entertain players of all ages It offers you a chance to win money by playing games.
Latest3 weeks ago

Daman Game: Where Fun Meets Real Rewards
Game On with Daman: Where Entertainment Pays Off!

TATA's Tech Revolution: Venturing into Chipmaking
Analysis4 weeks ago

TATA’s Tech Revolution: Venturing into Chipmaking
TATA Prepares to Venture into Chipmaking Business: Becoming the Herald of Change and Development in the Indian Tech Ecosystem

BharatGPT’s Hanooman: Desi Artificial Intelligence Ready For March Public Launch
Latest1 month ago

BharatGPT’s Hanooman: Desi Artificial Intelligence Ready For March Public Launch
The Indian tech scene is about to witness a dramatic makeover as BharaGPT prepares the public launch of the ‘Made In India’ AI, Hanooman.

OpenAI Launches SORA, its Text-to-Video Generator Model
Latest1 month ago

OpenAI Launches SORA, its Text-to-Video Generator Model

Gully Labs Story
Latest2 months ago

How a Homegrown Indian Sneaker Brand, Gully Labs is Embracing Indianism
Gully Labs: Redefining the sneaker culture in India

Topics

Editor's Pick

0
Would love your thoughts, please comment.x
()
x