AIIA Launches Ayush Start-Up Challenge To Encourage Innovation In Alternative Healing

Under the central government's initiative to support start-ups, the All India Institute of Ayurveda (AIIA), in association with Start-up India, has launched the 'Ayush Start-up Challenge' to encourage both early-stage start-ups as well as individuals as a group working on innovations in the Ayurveda sector and alternative healing.

The 'Ayush Start-up Challenge' would be conducted in three categories, and two winners in each category will be awarded a cash prize and incubation support from AIIA.

Ayush Market

Currently, the Ayush Market stands at a whopping USD 10 billion and is projected to witness a 50 per cent increase in the next five years, a statement from AIIA on Tuesday reads.

According to AIIA, when there is growing global interest in alternative medical practices, the Ayush sector offers massive potential for exponential growth.

Director of AIIA, Dr Tanuja Manoj Nesari, 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," reported the Indian Express.

Categories And Awards

The 'Ayush Start-up Challenge' would be conducted in three categories, Ayush Food Innovations, Ayush Bio-instrumentation (Hardware solutions) and Ayush IT Solutions (Software solutions). Two winners in each category, a total of 6 winners, will be awarded a cash prize of ₹ 1 lakh for the winner and ₹ 50 thousand for the runner-up.

The winners will also receive incubation support from AIIA that would entitle winners to tap into the vast knowledge and resource pool of AIIA across the three wings of the institute, namely research academics, and Hospital.

Also Read: India's Startup Ecosystem Grows By 10% Every Year- Here's Why