Rishabh Kaul

Piramal Prize Accepting Entires for its 2nd Edition

We just got a mail from the folks down at Center for Innovation, Incubation & Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad informing us that they have started accepting entries for the Piramal Prize.

The Prize, which is organized by the Piramal Foundation in partnership with CIIE and is currently in its second edition (earlier held in 2008), aims to “support innovations that bring better health at a lower cost to more people across India”. In developing countries like India it is extremely important to provide healthcare at an affordable cost and the contest tries to focus on that pain point.

According to the CIIE blog, the contest will feature two categories:

Emerging Ventures: For early stage ventures (in existence for upto three years) including those in the idea phase. The prize winner in this category will receive seed funding of Rs 10,00,000/-, and additional support including office space, operational support, mentoring, and access to additional financing.

Established Organizations: For ventures who have a proven and mesaureable track record for democratizing healthcare. The winning organization will receive a cash prize of Rs 10,00,000/-.

The inaugural edition was won by Biosense, and Arvaind Eyecare in 2008 for the Emerging Ventures and Estalished Organizations respectively. Biosense known as Anaemedia then, aims to eradicate anaemia using a prick-less battery operated device. Aravind ofcourse is a household name in eye care. For a full list of finalists in both the categories click here

The thing to keep in mind however, is that Piramal Prize specifically focuses on entrepreneurial innovations that address the health crisis in India.

The last date for submission of entries is 15th of August