Winners of ‘Ayush Start-up challenge’ will be provided incubation support and financial incentive
In line with the Central Government’s initiative to support start-ups, the All India Institute of Ayurveda (AIIA) in association with Startup India has launched ‘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 receive both a cash prize and incubation support from AIIA.
Speaking on the occasion, Prof (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 realise 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 realise their next phase of growth.”
The ‘Ayush Start-up Challenge’ is open for participation from both early-stage start-ups as well as individuals as a group. A group of three to five individuals can come together to participate in the programme, however, if selected they would need to register a legal entity before the cash prize is disbursed to them.
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 three 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 six winners.
In addition, winners will receive incubation support from AIIA. The incubation support 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.
Details of the three participating categories are as follows:
- Food Innovations in Ayush Sector – Ready to Eat Nutritious Ayurveda Ahara (Food)
- Ayush Bio-instrumentation (Hardware Solutions) and Innovations in healthcare
- Ayush IT Solutions in the areas of Artificial Intelligence (AI) based solutions in Ayurveda Diagnostics, Virtual reality, Biosensors & Trackers
The last date of application submission is March 4, 2022. Participants can enter the programme through the link here: https://bit.ly/3JtiG5q
