The Centre for Innovation Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad (IIM-A), will offer a 'Piramal Prize' to encourage and support bold entrepreneurial ideas, which have a profound impact on access to higher standards of health for India's rural and marginalised urban communities. | |
| The award consists of a cash prize of Rs 10 lakh for the winning entry, incubation support at CIIE and a possible additional venture capital funding. The 2008 Piramal Prize evaluation process involves three stages, culminating in a finalist workshop and selection weekend in May 2008. |
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| 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. |
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| The award recognises high-impact and scalable business models that propose innovative solutions, which directly or indirectly address India's healthcare crisis. |
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| Entries may include innovations in service delivery, technology applications, health-related products, or mechanisms to address public health necessities such as potable water. |
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| CIIE has been supporting several healthcare related innovations like Inflow meter, an infusion flow rate monitor to measure the flow of intravenous fluids into the human body; Save The Environment, which, provides arsenic filters to arsenic-poisoning prone areas of West Bengal and Bihar; and Flexinails, a cost-effective orthopaedic nail to treat unstable fractures of femur (hip-thigh joint and around) in elderly and long bones in children among others. All these innovations have received commercial support. |
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