Rediscovering traditional medicine for Ayurveda 2.0 at TechSparks 2021
Amidst the COVID-19 pandemic, the ancient medicine and wellness system of Ayurveda came under the spotlight, with people increasingly adopting Ayurvedic products in their lifestyle.
At TechSparks 2021, Param Bhargava, Founder,(TAC), spoke about how TAC is bringing India's oldest traditional medicine to the Millennial lifestyle.
According to Param, “Ayurveda is simply a science of life.” He added both technology and the pandemic have benefitted the conversation around Ayurveda, resulting in a boost in this industry.
Launched in April 2021, The Ayurveda Company (TAC) is a direct-to-consumer (D2C) brand that offers beauty and personal care products like shampoo, masks, and body butter, and a range of products concerning immunity, health, and nutrition.
Speaking at the 12th edition of YourStory’s flagship startup-tech event, Param said technology has enabled the penetration of Ayurveda to make it a $10 billion industry, with several local and global companies trying to spread a lot of knowledge around it.
“New-age and deep-tech products and companies are enabling people to use Ayurveda from their mobile phones, with things like helping them to understand their doshas,” he said.
Param added, “This industry will have a $20-$25 billion market size in the next three-five years. We as founders of Ayurveda companies have a huge responsibility to make Ayurveda resonate in the entire world as yoga resonates.”
Highlighting how COVID-19 has played a crucial role in inducing a larger conversation around Ayurveda to build immunity at large, he said, “Coronavirus has really throttled the adoption rate of Ayurveda.
According to Param, Ayurveda’s adoption has increased about 300 percent in the last 18-20 months, and the market size has already surpassed the estimations made for 2024.
Why Ayurveda 2.0?
Param asserted that there are no side effects of Ayurveda since it is natural, plant-derived, and is chemical-free.
“As compared to modern medicine, Ayurveda is sustainable because it is like adopting a lifestyle, which would help you to get rid of the disease,” he said.
Drawing parallel to Ayurveda in wellness, he spoke about how TAC is using this traditional medicine in the beauty segment. He emphasised that Ayurveda can nourish the skin and hair and treat many beauty concerns. He believes so because Param and his wife Shreedha Singh’s entrepreneurial journey started with treating a personal pain point.
Param said TAC aims to cater to the mass-premium segment between the aspirations of the likes of luxurious brands and mass products that lack quality.
“We want to be India's 'Apka Apna Ayurveda’, where we make the products that are highly effective, very high quality at very affordable prices, which if people buy once, will use it forever,” said Param.
He added the gap in the industry is the lack of proper fuzz-free knowledge around Ayurveda. For this, TAC is spreading awareness through various initiatives, including launching a YouTube channel focused on simplifying Ayurveda's concept and tips for daily lifestyle, creating a team of experts for consultation, and adding a gamified process on its site or mobile app for users to get their curate Ayurveda journey.