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What is the News?
The Ayush Start-up Challenge has been launched.
What is Ayush Start-up Challenge?
Launched by: All India Institute of Ayurveda(AIIA) in association with Startup India
Aim: To encourage start-ups and individuals working on innovations in the field of Ayurveda and alternative healing.
The winners of the challenge will receive both a cash prize and incubation support from the AIIA.
Categories: There are three entry categories for participating start-ups: Ayush Food Innovations, Ayush Bio-instrumentation (Hardware solutions) and Ayush IT Solutions (Software solutions).
What is the market of the Ayush Sector in India?
The Ayush market is currently estimated to be around USD 10 bn. It has grown by 17% in 2014-20.
In terms of the global share, India has grown faster in the AYUSH market as compared to the world and accounts for about 2.8 % of the market.
It is projected to see a 50% increase in the Ayush market over the course of the next five years.
Source: This post is based on the article “All India Institute of Ayurveda launches Ayush Start-up Challenge” published in Indian Express on 23rd February 2022.