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Ayush Start-up Challenge

  • 23 Feb 2022
  • 2 min read

Why in News?

The All India Institute of Ayurveda (AIIA) in association with Startup India has launched the ‘Ayush Start-up Challenge’.

  • AYUSH stands for Ayurveda, Yoga and Naturopathy, Unani, Sidha and Homeopathy.

What are the Key Points?

  • About:
    • It was launched to encourage start-ups and individuals working on innovations in the field of Ayurveda and alternative healing.
    • The winners of ‘Ayush Start-up Challenge’ will receive both a cash prize and incubation support from the AIIA.
      • Cash prize of Rs. 1 lakh for the winner and Rs. 50,000 for the runner-up.
  • Categories:
    • 3 entry categories for participating start-ups:
      • Ayush Food Innovations:
      • Ayush Bio-instrumentation (Hardware solutions)
      • Ayush IT Solutions (Software solutions).
    • There will be two winners in each of the 3 categories.

What is the Status of the AYUSH Market?

  • The market size of the AYUSH sector has grown by 17 % in 2014-20 to reach USD 18.1 billion.
  • In terms of global share, India has grown faster in the AYUSH market as compared to the world and accounts for about 2.8 % of the market, which is likely to hold.
  • The Ayush market is currently estimated to be around USD 10 bn and it is projected to see a 50 % increase over the course of the next five years.

Source: IE

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