icreate seeking 25 aspiring entrepreneurs for second batch of grooming and incubation
International Centre of Entrepreneurship and Technology (icreate) is an autonomous institution that identifies, nurtures, and mentors aspiring individuals/teams (with or without ideas) to pursue their entrepreneurial dreams. Its mission is to facilitate innovative and imaginative minds with an ecosystem that comforts as well as challenges their intrinsic abilities so that eventually they are able to establish ventures that have the potential to scale rapidly, compete globally, generate wealth ethically, and create enriching and fulfilling employment.
The centre has been set up as a public-private partnership by the Government of Gujarat in order to support next generation entrepreneurs irrespective of from where they come, and where they set up their eventual ventures – so long as they leverage innovation and technology to create rapidly scalable businesses for local/global markets.
Having successfully concluded its first batch recently, icreate is now seeking applications for its second batch of 25 capable and aspiring entrepreneurs to bet on. The batch for “grooming” commences in February, 2014, for which the application deadline is 15th November, 2013.
The icreate model involves a 13-week intensive “grooming” program to equip individuals for their next-gen entrepreneurial journey leveraging innovation and technology to create rapidly scalable global businesses. Subsequent to the grooming phase, in the next 8 weeks aspirants are expected to pick an idea that has a strong value proposition around which a viable and defendable business can be built, and work out enough details to submit an incubation proposal along with a skeleton business plan. Such proposals are then evaluated by an independent panel for incubation at icreate. The incubation offering includes physical facilities, project funding (up to Rs 15 lakh), sustenance allowance, mentoring and networking. The model is based on a debt-equity-revenue based commission structure. The model is built on solid proven experience of the founders and the initiative is backed by an exceptional Advisory Board drawn from across industry and academia from India and abroad. Among the institutions that icreate has MoUs with is Technion of Israel.
The first batch of grooming had participants from India, the US, the UK, and Singapore, with experience ranging from 2 to 20 years. This batch resulted in six incubation proposals of which four have been selected for incubation at icreate. Two incubated projects are existing companies (one scale-up) and the other two are start-ups. The projects range from social entrepreneurship, ICT, medical devices, and gaming.
If you want to be part of an ecosystem that seeks capable individuals/teams and amplifies their efforts enabling them to go farther, and reach there faster, then check out the icreate offerings in detail.
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