Liveayurved.com launches the 'Ayush Start-up idea Contest' to encourage early-stage startups and convert them to innovations in the field of Traditional/Alternative systems of medicine.
Ayush start-up ideas contest includes traditional & non-conventional systems of health care and healing which include Ayurveda, Yoga, Naturopathy, Unani, Siddha, Sowa-Rigpa (Tibetan Herbal System) and Homeopathy, Acupressure, Acupuncture, etc.
Start-up Idea may consist of integrating all Ayush systems under one roof, establishing Naturopathy, Yoga centers or making Ayush healing easily available for the common man by making it cost-effective and within reach by integrating the latest technology or a combination of Hardware solutions and Ayush IT Solutions (Software solutions).
The winners of the contest will be awarded with a cash prize and in addition, winners will receive incubation support from Liveayurved.com. The incubation support would entitle winners to tap into the vast knowledge and resource pool of Liveayurved.com. Liveayurved.com will also help in arranging essential resources like office space, mentorship, starting capital /funding, legal guidance, etc.
Prize Money:
1st price Rs.10000.
2nd price Rs.5000.
3rd price Rs.3000.
Terms and Conditions:
1. Submitted Ayush start-up idea should be original, not submitted anywhere before, should not violate any copyright and no plagiarism.
2. All submitted Ayush start-up idea will be the property of Liveayurved.com.
3. Ayush start-up ideas should be in either English or Hindi.
4. Ayush start-up idea should have a complete lifecycle ie from beginning to the execution of the idea and must consider all potential hindrances/obstacles during its implementation.
5. Liveayurved team decision will be final.
6. Last date of submission: 31st May 2022.
Selection Criteria:
Applicants will be selected according to the following criteria:
1. Skills of the team, knowledge of the sector, and the feasibility of the project.
2. Relevance of innovation and its applicability.
3. Market and customer needs and potential outreach.
4. Business potential of the idea.
5. Completeness of the documentation presented.
The PPT presentation should include the following key information on the Ayush start-up idea so as to provide the basis for assessing its potential and feasibility:
1. The Ayush Start-up idea: Which market/people need are you trying to satisfy (ie urban/rural/mixed/or region specific?
2. Solution/Product: What does your Ayush start-up idea consist of? How do you solve
the market/people's needs? What is your value proposition? What process do you use?
3. Market: What is your target market? What is your Go-To-Market strategy?
What are your sales channels?
4. Competitors:
What other solutions are already present? How does your
idea stand out? What is your competitive advantage?
5. Business Model:
How does your business idea capture value? Define the revenue model of the project.
6. Roadmap:
What are the basic steps for the development of your business project?
7. Team:
Your and your Team details like a brief resume with the latest photo along with their skills/expertise/experience etc.
8. Financing:
How much investments does the project require? Which economic results
are you expecting?
You can include links/references to support material that is important for making your point.
The presentation claims, both qualitative and quantitative (market research, industry trends, competitors), must be supported by references.
How to Submit
You may send your idea to liveayurved@gmail.com or upload it on
Google Drive and share it with us.
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