January 27, 2008

Democratize Health Care in India - Rs.10 lakh Social Entrepreneurship Competition

In an attempt to address growing healthcare problems throughout India, the Piramal Foundation, in coordination with Indian Institute for Management, Ahmedabad has launched the Piramal Prize healthcare business plan competition. The competition seeks to empower bold thinkers to help solve India’s largest health problems through revolutionary ideas.

Currently, India’s population of 1.2 billion people faces a healthcare crisis of epic proportions. While India’s private health system is on par with that of any western country, its public health system is ranked amongst the lowest in the developing world, both in spending and efficacy.

While India’s current health situation is grim, the Piramal Foundation and Piramal Prize believe that there is hope for a cure. They believe that the solution to India’s woes lies not with charity or with the government, but rather with bold ideas that are both entrepreneurial and socially effective. The Piramal Prize competition seeks to bring together the world’s brightest minds to solve aspects of the health crisis while competing for prize awards of Rs. 10 lakh ($25,000) and incubation support at IIM‐A. Contestants will have access to the expertise of prominent business and health leaders through a mentorship program, and will work closely with world‐renowned staff at IIM‐A to fully develop their ideas. Finalists will spend a weekend presenting to a panel of distinguished judges and will showcase their ideas to leading finance firms. The Piramal Prize will produce revolutionary business models and a new generation of changemakers that will be empowered to change the landscape of Indian healthcare. For more information or to enter the competition, please visit: http://www.piramalprize.org.

Contact: Naman Shah, Piramal Foundation, naman@piramalprize.org India: +91 9828386255 U.S.A.: +1 3219178997

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