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Piramal Prize: $25k for Healthcare Innovations

Event: Piramal Prize (Website)Piramal

Organised By: Ajay G. Piramal Foundation and CIIE at IIM – A

Key dates:
Deadline for initial entry -April 1, 2008
Deadline for semifinalists Business Plan submission: May 15, 2008
Finals: June 2008

The Piramal Prize was established by the Ajay G. Piramal Foundation in 2007 to encourage and support bold entrepreneurial ideas which have a profound impact on access to higher standards of health for India’s rural and marginalized urban communities. The award recognizes high-impact, scalable business models that propose innovative solutions which directly or indirectly address India’s healthcare crisis. Entries may include, but are not limited to, innovations in service delivery, technology applications, health-related products, or mechanisms to address public health necessities such as potable water.

The Piramal Prize is a partnership between The Piramal Foundation and the Center for Innovation, Incubation, and Entrepreneurship at the Indian Institute of Management, Ahmedabad.

The Piramal Prize is an entrepreneurship challenge that encourages and enables business ideas that democratize healthcare. The competition asks for bold and creative innovations, will help you develop a business plan, and invests in viable new ideas.

The 2008 Piramal Prize evaluation process involves three stages, culminating in a finalist workshop and selection weekend in May 2008. Finalists will have a chance to work closely with a mentor, network with potential investors, and make a final presentation to the Piramal Prize Selection Committee. The winner of the 2008 Piramal Prize will be announced at the end of the weekend.

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2 Responses

  1. This competition seems to encourage the entrepreneurs which is very essential to develop the country.

  2. that sounds promising. I look forward to hear about the prize winner’s proposal. I’m concerned about increasing monopoly use and control of medicines. how to tackle the franchise issue? If we tackle the franchise issue, is it fair to the companies that innovate? I care for the patients, but how’d it work if every drug company gets to use my formula? Perhaps we can just make laws so the innovator and get a percentage profit of those sales generated by drug companies that use their formula; have the drug marketed so to attract investors to pour money into the research innovation and such–so hopefully more sales(now so many patients cannot afford with price set so high) for the investors like you and me and keeps the innovation of the innovator?

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