What is Startup Yoga Challenge Contest IDY 2022
There is a renewed interest in the field of yoga and wellness applications. The covid 19 pandemic has heralded the onset of virtual yoga classes, developing props, smart mats, AI driven applications for assessing stress and relaxation and wellness solutions around yoga and various other therapies of late.
The global market size of yoga was $80 billion in 2017 and is expected to grow at a CAGR of 13% over the next 8 years to reach $216 billion in 2025.
The STARTUP YOGA CHALLENGE CONTEST by the Ministry of Ayush, in partnership with Startup India and Invest India, is envisaged to invite startups and individuals who have developed products (devices or software applications or both) related to yoga to track the treatment delivery and outcome trajectory over time and will provide valuable health related information about these interventions.
The main objectives of the start up challenge in yoga and wellness applications will be to identify and nurture key talent and innovators in this sector and develop smart novel products in this area.
DETAILED ELIGIBILITY CRITERIA
Representatives from Educational institute, Hospital, University, Registered Trusts/societies/NGOs or Yoga Institutes/ college or Any Indian company*
*Company should be incorporated under the Companies Act 1956/2013, primarily a Micro, Small and Medium Enterprises (MSME) as defined in the MSMED Act, 2006 and Any company registered as a Start-up, as defined, and recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India and The majority stake (more than 51%) of the applicant entity must be held in India.