ENQUIRY

 

FAQS

General
Students
Potential Entrepreneurs
MSME
Potential Investors
Social Entrepreneurs

1. What is icreate?

icreate (International Centre for Entrepreneurship and Technology) is an autonomous institution that identifies, nurtures and mentors the spirit of budding entrepreneurs and provides them with all the assistance one requires during the entrepreneurial journey. It is a world-class centre for excellence in Entrepreneurship and Technology.

2. What is the mission of icreate?

Our mission is to facilitate the innovative and imaginative minds in their entrepreneurial journey to help them as well as the society in aspects of wealth generation, employment creation and global competition.

3. How is it structured?

The Centre is formed under the aegis of Gujarat Foundation for Entrepreneurial Excellence (GFEE). It is a joint venture of Gujarat Mineral Development Corporation Limited (GMDC) and Gujarat Entrepreneurship and Venture Promotion Foundation (GEVPF). For the apt guidance of budding entrepreneurs, the Centre has an advisory board chaired by Shri N.R. Narayana Murthy and other eminent personalities from academia and industry.

4. What is Next Generation Technology Entrepreneurship?

As the avenues for gaining more knowledge of the economy have opened up, new possibilities have taken birth for people who can leverage technology and knowledge. The rapid advances in emerging technologies have generated opportunities for people to think big. Also for people with good ideas, sound knowledge and basic business sense as well as the availability of angel and venture funding has eliminated the lack of monetary aid as a major limitation.

This combination has given birth to next generation techno-entrepreneurship, which is leveraging technology and knowledge to cater to unmet or new needs.

5. What is the Centre model ?

The core of the Centre's model represents engagement and participation throughout one's entrepreneurial journey. The model is designed in a way so that the mentors at the centre become more like partners of the participants rather than just third party facilitators.

Also, an entrepreneur who wants to get incubated has to undergo a paid grooming program. Once the projects are selected for incubation, all project costs (direct and indirect), including the sustenance allowances paid will be charged to the project. When the projects eventually spin off as start-up companies, all project cost incurred will be converted as debt to the start-up company and further the Centre will take (buy) equity in the start-up.

6. What sets the Centre apart from other similar institutions?

The model, scope, scales and approach of the Centre distinguishes it from other similar institutions. The scope of the Centre covers Schools, Colleges, Entrepreneurs, Intrapreneurs, Social Entrepreneurs, MSMEs and High-Growth companies.

Driven by a holistic approach, it not only nurtures ideas and projects but also incubates them and participates in the entrepreneurial journey.

The aim of the Centre is to reduce the barriers in the pursuit of the entrepreneurial journey for innovative applications to create wealth, employment as well as a global enterprise.

7. What does the infrastructure consists of?

The Centre will soon have its own 40 acres of sprawling campus, opposite Kensville golf course, off Bavala-Bagodara road, about 30 km away from Ahmedabad enroute to Rajkot. The campus will be self-contained with all facilities for nurturing the budding next generation entrepreneurs.

8. Will activities start after the campus is ready?

Since the campus is taking shape at present, all the activities are been operated in the GMDC building (icreate, First Floor, near Helmet circle, 132 feet ring road). After the campus is fully operational, the activities will be shifted there.

9. What are the various activities proposed by the Centre?

The Centre has diverse activities through on-campus as well as through Reach-Out programs for:

Students from schools and colleges, who wish to learn more about how to become successful entrepreneurs.

Aspiring/existing entrepreneurs or intrapreneurs who already have an idea/project or have specific interest in a domain (but no firm idea of a project).

Existing small and medium sized companies who have a high growth potential.

10. What are the benefits offered by the Centre?

The benefits are manifold and far-reaching. The Centre has a large pool of intellectual capital with a high level of global connectivity and affiliations. It offers the best programs, events, forums, special interests groups, networking with the industry's A-list and mentoring programs for all participants to benefit from.

With its access to mentors, money and markets, the centre is a one stop shop which provides end to end solutions for budding entrepreneurs.

11. What measures will the Centre take to protect intellectual property rights?

The Centre respects ideas and intellectual property rights. Thus it is designed so as to have an elaborate system of non-disclosure agreements for the projects that get incubated.

Also, it is in interest of the Centre to help entrepreneurs protect their ideas and projects because the Centre's success takes birth from its members' success.

12. What is the current status of the Centre?

Currently the Centre is operating from GMDC building in Ahmedabad. The land for the Centre's campus is soon going to be transformed into a sprawling ecosystem.

The first batch of grooming program has been successfully concluded. It had participants from India, US, 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.

The Centre has also conducted various Seminars, Reach-Out programs, Networking events, etc. for students as well as aspiring entrepreneurs.

1. How do I know if entrepreneurship is the right choice for me?

If you have proper knowledge of technology, customers, markets and other crucial aspects pertaining to your field of interest, then this makes you a possible candidate for the entrepreneurship.

Also your passion and dedication for giving life to your innovative ideas is what helps you through the journey of being an entrepreneur.

2. I am a fresher/just passed out or in my final year, is this the right time for me to venture?

It depends on your judgement of your knowledge and experience base. For some this could be right after their graduation, for others it may be after few years of experience, for some it may be later in life when they know the markets and are in a position to entertain risks. This said and done, we suggest once you have an apt knowledge base, the sooner you venture, the more time you would get for incubation.

3. Do I need to have a specific idea to join the Centre?

You don't need to be very specific about your ideas. You may just have an outline of what you wish to pursue or your area of interest. However, the more specific the idea, the better head start it should provide you.

However, it goes without saying here, that at the centre we help you even with a very basic idea through grooming. The purpose of grooming programs is to help you develop your ideas and bring them to life.

4. I have an idea/business plan, how quickly can I have it incubated?

If you have a ready business plan then it could be evaluated within the first 10 weeks of the grooming phase. If the business plan and the incubation proposal gets selected then you could undergo concurrent grooming and incubation. Typically, you would spend 2/3rd time in grooming and 1/3rd time in incubation. This would also enable you to get project funding and sustenance, thus getting your project started.

5. Do I need start up funds?

Once your incubation period is over, you would need to bring in promoters capital. While such startup capital as committed investment is required and is desirable for starting a new enterprise, on a case to case basis, special loan and grant applications may be considered by the advisory panel.

6. What is the enrolment process at the Centre?

Once the forms are available on our website, you just have to fill it and send it to us in the requisite manner, for our team to screen it. Short-listed candidates will be called for a written test and an interview that will be administered in a single day at Ahmedabad.

The tests will examine your general knowledge and aptitude, emotional quotient, adversity quotient, some understanding of technology and business sense. The interview will be conducted by a diverse panel and in an informal environment to assess your ability, keenness and resilience to pursue the techno-entrepreneurial journey. The eventual selection would be based on the assessment of both.

Please check the website at regular intervals for program dates and specific enrolment/admission procedures.

7. How risky is it?

Entrepreneurs do not mind taking risks but they do not invite risks either. They carefully think through what can possibly go wrong, and how one can mitigate against such possibilities.

This approach does not eliminate any unknowns, nor does it ensure that you will be able to think through all unknowns, but such prepared state of mind helps you navigate the situations with lot more ease and composure.

Generally, techno-entrepreneurship involves 18 to 36 months of "difficult" times, followed by a year or two of "demanding" times before you get time to breathe and look back. The upside within the first 18 to 36 months is that you are able to build a convincing case for getting needed finances to build and grow your venture, and then you are on your way to build your first company. The downside is that your efforts could fail to build a solid "value proposition" either due to technology failure, market failure, competition or changes in the operating environment.

8. What if I fail?

One way to evaluate this is as follows:

For most capable people with marketable skills, going back to employment is always possible. What you may have lost is perhaps the time - but this, you would have exchanged for very rich experience, which should enhance your productivity and hence marketability if you were to re-visit the employment option.

9. How can I improve my chances of success?

Successful entrepreneurs pursue the path they believe in, irrespective of the difficulties. Their persistence and determination is what sets them apart from others. For this they work on mitigating risks and identify missing elements to line up needed resources.

The Centre is conceived and designed to help techno-entrepreneurs in their journey on both these fronts.

While any techno-entrepreneurship involves risks, the Centre helps change the odds in your favour through the aid it offers. Guidance by a strong team and with end to end solutions provided by the Centre, ensure that you get the best possible shot at fulfilling your dream.

10. Do I necessarily need to have a technology background?

While a majority of the participants are expected to have knowledge and/or experience in technology/engineering, we also encourage individuals from other backgrounds to apply.

You could therefore be from science, commerce or management background but have a fair understanding and appreciation of technology business. We wish to ensure that the Centre has a multi-dimensional batch consisting of individuals from various background. This would result in mutually complementary teams.

Hence, we only expect that the participants must have a strong entrepreneurial drive and fair amount of liking for technology business.

11. I want to know about the Centre's activities for existing entrepreneurs, where do I look for the details?

If you feel that you have moved beyond the stage of a student of entrepreneurship and need more specialized guidance, then please see FAQs for existing/potential entrepreneurs.

1. I am good in technology but I have no team and I have absolutely no knowledge of marketing, finance and HR. How will the Centre help me?

The Centre model is designed to provide complete exposure to people with technology knowledge and business aptitude for their techno-entrepreneurial journey. Thus the required knowledge about marketing, finance, HR, technology trends and product design is provided by the Centre during the grooming period.

Furthermore, unlike an MBA program, this knowledge is provided from a startup entrepreneur perspective rather than existing large corporate perspective. So the Centre's program proposes to add all the missing links to pursue techno-entrepreneurship.

2. I am good in technology but I have no business/innovative idea/s should I join the Centre?

Having business or innovative idea is not a prerequisite to join. The Centre's grooming proposes to impart knowledge to enable you to identify fertile ground and spot good opportunities within the chosen space consistent with the context of emerging socio-eco-techno scenarios. This helps you evaluate ideas in your area of expertise.

3. Will it involve a lot of hardship?

Yes. Like they say, "A ship is safe in harbor, but that's not what ships are for". The journey of techno-entrepreneurial is tough and it takes strong confidence and self-belief to explore new shores. It requires one to move from the comfort zone and push one's envelope. Long hours of work, keeping the purse strings tight, constantly motivating employees and paying them well, nurturing patience as virtue, being receptive to both bouquets and brickbats - would all be order of the day. It is the fire in the belly and passion to excel, which keeps one going, despite the odds. At the end of the day, it's all worth it.

4. Is it necessary to have ideas which are only product oriented or are service oriented ideas encouraged as well?

The project could be a product or a service oriented one. As long as it leverages technology and innovations, is scalable and has the potential to generate large scale wealth on a sustained basis, the Centre will provide the right environment to succeed.

5. Does it need to be innovative or breakthrough idea all the time? For what type of ideas is incubation possible?

It is indeed undeniable that innovative and breakthrough products garner huge response and win accolades across the market and stakeholders. It nevertheless, doesn't mean that other products are redundant. We are not essentially looking at a typical "research and development" project. So there are multiple possibilities to leverage existing technologies to create products or services that are commercially viable, have expanding markets and offer ample growth opportunities. It is hence, important to pursue such ideas with enough potential to break new grounds, even without breakthrough products and services.

6. Is the grooming program must for everyone to join the Centre?

The grooming program is essentially for the overall development of the participants. It not only helps in overall presentation but hones the crucial qualities such as team spirit, evaluating ideas, etc. It is a small investment of time we make which ensures long-term returns, not only for us, but also for you.

There are however, exceptions, where we remain flexible for project teams who seek new members to join them and add value to their projects. In such situations, we encourage, but not insist, that such late entrants should enroll for the grooming program.

7. I am a MBA or/and I have work experience do I still need to undergo grooming?

While several modules may seemingly sound like those covered in an MBA program, it is important to note that the material used and the manner of conduct is vastly different. It is aimed at creating an entrepreneurial mindset rather than a managerial one. Also, the exposure to various ways of ideation and opportunities to form teams is a part of our entrepreneurial environment.

8. What is the guarantee that once I finish grooming I will get selected for incubation?

The selection of a business plan/incubation proposal as well as the individual or team (as the case may be) rests with an independent panel. While the onus to make a deserving case lies with you (and the team), the grooming phase would have ironed out a lot of unknowns and hence the chances of making it to the incubator are reasonably good, although not guaranteed. You do have multiple chances with modified existing idea/project or a new one.

9. I think I am fully ready with the business and need just funds and mentoring. Can you help?

The Centre is not a venture capitalist. The funding we plan to provide will be early seed funding to support the journey from idea to proof-of concept.

1. How can the centre help us?

The Centre proposes to create global linkages with specific industry segments. Existing companies with a high growth potential would benefit from the access to new innovations in the relevant industry, and special training sessions for middle management to gear up for higher growth potential.

It also proposes to assist with

Capital mobilisation for giving an extra push towards growth

Networking opportunities to increase the reach of existing business and facilitate entrepreneurial pursuits

Peer groups to share and encourage new perspectives in existing projects

The Centre would enable an existing organisation to create a global outlook in approach and management by propelling latent talent to succeed with "out-of-the-box" thinking.

2. Would the Centre help with the required funds for expansion?

The Centre proposes to support the organisation by providing access to mentors, venture capitalists and creation of project reports for expansion and scale ups. We will also help in creating network between successful organisations and stimulate growth with a supportive environment.

3. How will my organisation qualify for the Centre?

The Centre will work with few (5 to 10) promising companies at a time representing diverse areas where it can add value. These companies will be chosen from those who express interest.

Standard procedures will be put up on the website and an experienced advisory panel will screen organisations that wish to qualify for the scale up program.

It is advised that the website be checked at regular intervals for more specific details.

1. I am looking for investing opportunities and the Centre interests me. How can I be a part of it?

The Centre will work to create large number of quality next generation entrepreneurs. This would be of great interest to any angel investor or a venture capitalist like you, as your "due diligence" process is greatly simplified because the Centre provides a ready source of known entrepreneurs with right mindset and decent business plans with some track record for your help.

Thus we believe that the Centre will have strong relationships with many angel investors and venture capitalist firms as well as private equity players. Associating early on with the Centre, its projects and individuals, makes the transition smooth for all involved. Thus the Centre will make special efforts to develop such relationships with many parties from day one.

If this appeals to you, we urge you to get in touch with us.

1. As a social enterprise how can the Centre help us?

Social enterprises need entrepreneurial acumen to be globally effective. Such organisations can depute their selected people to undergo either standard grooming phase with others or (when possible) a specially targeted grooming phase for social entrepreneurs.

2. Will the Centre have special programs for social entrepreneurs?

The Centre will impart necessary business skills to the participants from entrepreneurial perspective with social sensitivities in its groming programs

1. What is icreate?

icreate (International Centre for Entrepreneurship and Technology) is an autonomous institution that identifies, nurtures and mentors the spirit of budding entrepreneurs and provides them with all the assistance one requires during the entrepreneurial journey. It is a world-class centre for excellence in Entrepreneurship and Technology.

2. What is the mission of icreate?

Our mission is to facilitate the innovative and imaginative minds in their entrepreneurial journey to help them as well as the society in aspects of wealth generation, employment creation and global competition.

3. How is it structured?

The Centre is formed under the aegis of Gujarat Foundation for Entrepreneurial Excellence (GFEE). It is a joint venture of Gujarat Mineral Development Corporation Limited (GMDC) and Gujarat Entrepreneurship and Venture Promotion Foundation (GEVPF). For the apt guidance of budding entrepreneurs, the Centre has an advisory board chaired by Shri N.R. Narayana Murthy and other eminent personalities from academia and industry.

4. What is Next Generation Technology Entrepreneurship?

As the avenues for gaining more knowledge of the economy have opened up, new possibilities have taken birth for people who can leverage technology and knowledge. The rapid advances in emerging technologies have generated opportunities for people to think big. Also for people with good ideas, sound knowledge and basic business sense as well as the availability of angel and venture funding has eliminated the lack of monetary aid as a major limitation.

This combination has given birth to next generation techno-entrepreneurship, which is leveraging technology and knowledge to cater to unmet or new needs.

5. What is the Centre model ?

The core of the Centre's model represents engagement and participation throughout one's entrepreneurial journey. The model is designed in a way so that the mentors at the centre become more like partners of the participants rather than just third party facilitators.

Also, an entrepreneur who wants to get incubated has to undergo a paid grooming program. Once the projects are selected for incubation, all project costs (direct and indirect), including the sustenance allowances paid will be charged to the project. When the projects eventually spin off as start-up companies, all project cost incurred will be converted as debt to the start-up company and further the Centre will take (buy) equity in the start-up.

6. What sets the Centre apart from other similar institutions?

The model, scope, scales and approach of the Centre distinguishes it from other similar institutions. The scope of the Centre covers Schools, Colleges, Entrepreneurs, Intrapreneurs, Social Entrepreneurs, MSMEs and High-Growth companies.

Driven by a holistic approach, it not only nurtures ideas and projects but also incubates them and participates in the entrepreneurial journey.

The aim of the Centre is to reduce the barriers in the pursuit of the entrepreneurial journey for innovative applications to create wealth, employment as well as a global enterprise.

7. What does the infrastructure consists of?

The Centre will soon have its own 40 acres of sprawling campus, opposite Kensville golf course, off Bavala-Bagodara road, about 30 km away from Ahmedabad enroute to Rajkot. The campus will be self-contained with all facilities for nurturing the budding next generation entrepreneurs.

8. Will activities start after the campus is ready?

Since the campus is taking shape at present, all the activities are been operated in the GMDC building (icreate, First Floor, near Helmet circle, 132 feet ring road). After the campus is fully operational, the activities will be shifted there.

9. What are the various activities proposed by the Centre?

The Centre has diverse activities through on-campus as well as through Reach-Out programs for:

Students from schools and colleges, who wish to learn more about how to become successful entrepreneurs.

Aspiring/existing entrepreneurs or intrapreneurs who already have an idea/project or have specific interest in a domain (but no firm idea of a project).

Existing small and medium sized companies who have a high growth potential.

10. What are the benefits offered by the Centre?

The benefits are manifold and far-reaching. The Centre has a large pool of intellectual capital with a high level of global connectivity and affiliations. It offers the best programs, events, forums, special interests groups, networking with the industry's A-list and mentoring programs for all participants to benefit from.

With its access to mentors, money and markets, the centre is a one stop shop which provides end to end solutions for budding entrepreneurs.

11. What measures will the Centre take to protect intellectual property rights?

The Centre respects ideas and intellectual property rights. Thus it is designed so as to have an elaborate system of non-disclosure agreements for the projects that get incubated.

Also, it is in interest of the Centre to help entrepreneurs protect their ideas and projects because the Centre's success takes birth from its members' success.

12. What is the current status of the Centre?

Currently the Centre is operating from GMDC building in Ahmedabad. The land for the Centre's campus is soon going to be transformed into a sprawling ecosystem.

The first batch of grooming program has been successfully concluded. It had participants from India, US, 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.

The Centre has also conducted various Seminars, Reach-Out programs, Networking events, etc. for students as well as aspiring entrepreneurs.

1. How do I know if entrepreneurship is the right choice for me?

If you have proper knowledge of technology, customers, markets and other crucial aspects pertaining to your field of interest, then this makes you a possible candidate for the entrepreneurship.

Also your passion and dedication for giving life to your innovative ideas is what helps you through the journey of being an entrepreneur.

2. I am a fresher/just passed out or in my final year, is this the right time for me to venture?

It depends on your judgement of your knowledge and experience base. For some this could be right after their graduation, for others it may be after few years of experience, for some it may be later in life when they know the markets and are in a position to entertain risks. This said and done, we suggest once you have an apt knowledge base, the sooner you venture, the more time you would get for incubation.

3. Do I need to have a specific idea to join the Centre?

You don't need to be very specific about your ideas. You may just have an outline of what you wish to pursue or your area of interest. However, the more specific the idea, the better head start it should provide you.

However, it goes without saying here, that at the centre we help you even with a very basic idea through grooming. The purpose of grooming programs is to help you develop your ideas and bring them to life.

4. I have an idea/business plan, how quickly can I have it incubated?

If you have a ready business plan then it could be evaluated within the first 10 weeks of the grooming phase. If the business plan and the incubation proposal gets selected then you could undergo concurrent grooming and incubation. Typically, you would spend 2/3rd time in grooming and 1/3rd time in incubation. This would also enable you to get project funding and sustenance, thus getting your project started.

5. Do I need start up funds?

Once your incubation period is over, you would need to bring in promoters capital. While such startup capital as committed investment is required and is desirable for starting a new enterprise, on a case to case basis, special loan and grant applications may be considered by the advisory panel.

6. What is the enrolment process at the Centre?

Once the forms are available on our website, you just have to fill it and send it to us in the requisite manner, for our team to screen it. Short-listed candidates will be called for a written test and an interview that will be administered in a single day at Ahmedabad.

The tests will examine your general knowledge and aptitude, emotional quotient, adversity quotient, some understanding of technology and business sense. The interview will be conducted by a diverse panel and in an informal environment to assess your ability, keenness and resilience to pursue the techno-entrepreneurial journey. The eventual selection would be based on the assessment of both.

Please check the website at regular intervals for program dates and specific enrolment/admission procedures.

7. How risky is it?

Entrepreneurs do not mind taking risks but they do not invite risks either. They carefully think through what can possibly go wrong, and how one can mitigate against such possibilities.

This approach does not eliminate any unknowns, nor does it ensure that you will be able to think through all unknowns, but such prepared state of mind helps you navigate the situations with lot more ease and composure.

Generally, techno-entrepreneurship involves 18 to 36 months of "difficult" times, followed by a year or two of "demanding" times before you get time to breathe and look back. The upside within the first 18 to 36 months is that you are able to build a convincing case for getting needed finances to build and grow your venture, and then you are on your way to build your first company. The downside is that your efforts could fail to build a solid "value proposition" either due to technology failure, market failure, competition or changes in the operating environment.

8. What if I fail?

One way to evaluate this is as follows:

For most capable people with marketable skills, going back to employment is always possible. What you may have lost is perhaps the time - but this, you would have exchanged for very rich experience, which should enhance your productivity and hence marketability if you were to re-visit the employment option.

9. How can I improve my chances of success?

Successful entrepreneurs pursue the path they believe in, irrespective of the difficulties. Their persistence and determination is what sets them apart from others. For this they work on mitigating risks and identify missing elements to line up needed resources.

The Centre is conceived and designed to help techno-entrepreneurs in their journey on both these fronts.

While any techno-entrepreneurship involves risks, the Centre helps change the odds in your favour through the aid it offers. Guidance by a strong team and with end to end solutions provided by the Centre, ensure that you get the best possible shot at fulfilling your dream.

10. Do I necessarily need to have a technology background?

While a majority of the participants are expected to have knowledge and/or experience in technology/engineering, we also encourage individuals from other backgrounds to apply.

You could therefore be from science, commerce or management background but have a fair understanding and appreciation of technology business. We wish to ensure that the Centre has a multi-dimensional batch consisting of individuals from various background. This would result in mutually complementary teams.

Hence, we only expect that the participants must have a strong entrepreneurial drive and fair amount of liking for technology business.

11. I want to know about the Centre's activities for existing entrepreneurs, where do I look for the details?

If you feel that you have moved beyond the stage of a student of entrepreneurship and need more specialized guidance, then please see FAQs for existing/potential entrepreneurs.

1. I am good in technology but I have no team and I have absolutely no knowledge of marketing, finance and HR. How will the Centre help me?

The Centre model is designed to provide complete exposure to people with technology knowledge and business aptitude for their techno-entrepreneurial journey. Thus the required knowledge about marketing, finance, HR, technology trends and product design is provided by the Centre during the grooming period.

Furthermore, unlike an MBA program, this knowledge is provided from a startup entrepreneur perspective rather than existing large corporate perspective. So the Centre's program proposes to add all the missing links to pursue techno-entrepreneurship.

2. I am good in technology but I have no business/innovative idea/s should I join the Centre?

Having business or innovative idea is not a prerequisite to join. The Centre's grooming proposes to impart knowledge to enable you to identify fertile ground and spot good opportunities within the chosen space consistent with the context of emerging socio-eco-techno scenarios. This helps you evaluate ideas in your area of expertise.

3. Will it involve a lot of hardship?

Yes. Like they say, "A ship is safe in harbor, but that's not what ships are for". The journey of techno-entrepreneurial is tough and it takes strong confidence and self-belief to explore new shores. It requires one to move from the comfort zone and push one's envelope. Long hours of work, keeping the purse strings tight, constantly motivating employees and paying them well, nurturing patience as virtue, being receptive to both bouquets and brickbats - would all be order of the day. It is the fire in the belly and passion to excel, which keeps one going, despite the odds. At the end of the day, it's all worth it.

4. Is it necessary to have ideas which are only product oriented or are service oriented ideas encouraged as well?

The project could be a product or a service oriented one. As long as it leverages technology and innovations, is scalable and has the potential to generate large scale wealth on a sustained basis, the Centre will provide the right environment to succeed.

5. Does it need to be innovative or breakthrough idea all the time? For what type of ideas is incubation possible?

It is indeed undeniable that innovative and breakthrough products garner huge response and win accolades across the market and stakeholders. It nevertheless, doesn't mean that other products are redundant. We are not essentially looking at a typical "research and development" project. So there are multiple possibilities to leverage existing technologies to create products or services that are commercially viable, have expanding markets and offer ample growth opportunities. It is hence, important to pursue such ideas with enough potential to break new grounds, even without breakthrough products and services.

6. Is the grooming program must for everyone to join the Centre?

The grooming program is essentially for the overall development of the participants. It not only helps in overall presentation but hones the crucial qualities such as team spirit, evaluating ideas, etc. It is a small investment of time we make which ensures long-term returns, not only for us, but also for you.

There are however, exceptions, where we remain flexible for project teams who seek new members to join them and add value to their projects. In such situations, we encourage, but not insist, that such late entrants should enroll for the grooming program.

7. I am a MBA or/and I have work experience do I still need to undergo grooming?

While several modules may seemingly sound like those covered in an MBA program, it is important to note that the material used and the manner of conduct is vastly different. It is aimed at creating an entrepreneurial mindset rather than a managerial one. Also, the exposure to various ways of ideation and opportunities to form teams is a part of our entrepreneurial environment.

8. What is the guarantee that once I finish grooming I will get selected for incubation?

The selection of a business plan/incubation proposal as well as the individual or team (as the case may be) rests with an independent panel. While the onus to make a deserving case lies with you (and the team), the grooming phase would have ironed out a lot of unknowns and hence the chances of making it to the incubator are reasonably good, although not guaranteed. You do have multiple chances with modified existing idea/project or a new one.

9. I think I am fully ready with the business and need just funds and mentoring. Can you help?

The Centre is not a venture capitalist. The funding we plan to provide will be early seed funding to support the journey from idea to proof-of concept.

1. How can the centre help us?

The Centre proposes to create global linkages with specific industry segments. Existing companies with a high growth potential would benefit from the access to new innovations in the relevant industry, and special training sessions for middle management to gear up for higher growth potential.

It also proposes to assist with

Capital mobilisation for giving an extra push towards growth

Networking opportunities to increase the reach of existing business and facilitate entrepreneurial pursuits

Peer groups to share and encourage new perspectives in existing projects

The Centre would enable an existing organisation to create a global outlook in approach and management by propelling latent talent to succeed with "out-of-the-box" thinking.

2. Would the Centre help with the required funds for expansion?

The Centre proposes to support the organisation by providing access to mentors, venture capitalists and creation of project reports for expansion and scale ups. We will also help in creating network between successful organisations and stimulate growth with a supportive environment.

3. How will my organisation qualify for the Centre?

The Centre will work with few (5 to 10) promising companies at a time representing diverse areas where it can add value. These companies will be chosen from those who express interest.

Standard procedures will be put up on the website and an experienced advisory panel will screen organisations that wish to qualify for the scale up program.

It is advised that the website be checked at regular intervals for more specific details.

1. I am looking for investing opportunities and the Centre interests me. How can I be a part of it?

The Centre will work to create large number of quality next generation entrepreneurs. This would be of great interest to any angel investor or a venture capitalist like you, as your "due diligence" process is greatly simplified because the Centre provides a ready source of known entrepreneurs with right mindset and decent business plans with some track record for your help.

Thus we believe that the Centre will have strong relationships with many angel investors and venture capitalist firms as well as private equity players. Associating early on with the Centre, its projects and individuals, makes the transition smooth for all involved. Thus the Centre will make special efforts to develop such relationships with many parties from day one.

If this appeals to you, we urge you to get in touch with us.

1. As a social enterprise how can the Centre help us?

Social enterprises need entrepreneurial acumen to be globally effective. Such organisations can depute their selected people to undergo either standard grooming phase with others or (when possible) a specially targeted grooming phase for social entrepreneurs.

2. Will the Centre have special programs for social entrepreneurs?

The Centre will impart necessary business skills to the participants from entrepreneurial perspective with social sensitivities in its groming programs

CONTACT US

International Centre for Entrepreneurship and Technology

Ms. Kahini Sheth

First floor, GMDC Building, 132 Ft Ring Road, Vastrapur, Ahmedabad 380 052, India.

+91 79 2791 2803

email: info@icreate.org.in
kahini@icreate.org.in

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