Kochi | KITCO, a premier engineering, management and project consultancy firm and Care Keralam Ltd, a confederation of ayurvedic medicine producers formed with the support of the Central and State Governments, signed an MoU to enhance innovation in the ayurveda sector.
The MoU was signed at the KITCO Head office here between KITCO MD Cyriac Davies and Care Keralam MD Dr Saji Kumar here today.
Stating that association with Care Keralam would bring new synergy in KITCOs efforts in promoting innovation and entrepreneurship in the ayurveda sector, Mr Cyriac said that Ayurveda Industry will get a new boost in their effort to bring innovation and modern practices in operation, product development and marketing with the expertise of KITCO and Care Keralam.
Describing the association as a game changer in entrepreneurial canvas of Ayurveda, Dr Saji Kumar in his remarks said that the traditional ayurveda has multiple challenges to overcome including bringing in more standardization, innovation in all aspects of operation and encouraging youngsters into entrepreneurship and KITCOs efforts in incubation and mentoring along with the technical expertise of associate members of Care Keralam will accelerate the process of bringing products from the lab to the market.
The MoU aimed at creating an action plan to create large number of startups in the ayurveda sector in a time-bound manner. Couple of immediate activities identified for implementation includes organizing a meet of entrepreneurs and business people in the ayurveda industry and organizing an entrepreneurship awareness programme for aspiring entrepreneurs.
This was the first of its kind effort from industry association to promote entrepreneurship and innovation in ayurveda. KITCO had now made considerable progress in establishing a network of all stakeholders from industry, academia and research community in number of sectors to provide comprehensive incubation service to entrepreneurs, a release said here today.
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