About program

We Bet On Individuals And Not Only On Ideas

Grum 001

Stage 1: Groom

 icreate’s ‘Grooming’ is a13 week intensive program to equip individuals with the right entrepreneurial mindset, skillset and toolset for their next-gen entrepreneurial journey leveraging innovation and technology to create rapidly scalable global businesses.

icon-circal-groom

Stage 2: Prep

Following the Grooming phase, aspirants have an opportunity to ‘pitch’ for incubation. In the subsequent 6 to 8 weeks, post Grooming, they are expected to pick an idea that has a strong value proposition around which a viable business can be built, and workout enough details to submit an incubation proposal along with a skeleton business plan. This exercise is undertaken in close interaction and guidance from the icreate team. These proposals are then evaluated by an independent panel for incubation.

Incubate

Stage 3: Incubate

Selected participants(individuals/teams) are incubated for a duration for 6 months – 24 months. Once incubated, icreate provides funding upto Rs. 15 lacs, monthly sustenance, mentorship, networking opportunities, support and assistance (including physical infrastructure) for taking your ideas to ‘Proof of Concept’ stage.

Program Structure

The objective of the Grooming Program is to expose aspiring entrepreneurs to various elements of entrepreneurship like product development; marketing; accounts & finance; legal aspects, and talent management ; etc from a start-up perspective through academic sessions, activities, industry visits, entrepreneurial meets, brainstorming sessions and access to domain experts.

Journey

Journey

It prepares aspiring entrepreneurs for  the journey ahead. They not only learn through other people’s pursuits and develop an appropriate temperament for entrepreneurship but also get first- hand exposure of  various elements of  the journey. Buiding and managing start-ups is vastly different than running established firms

Idea

Idea

This module enables the participants to identify their ‘sweet spot’-  what they are good at and what gives them joy. Based on which, they can evaluate various ideas that address a compelling pain-point and  have potential of being a profitable and scalable venture.

Feasibility

Feasibility

Aspirants learn how to evaluate the feasibility of the various ideas under consideration through appreciation of  market requirements and situations, costing and pricing, and future prospects in terms of revenue generation and scalability.

Build Value

Build Value

This module makes the aspiring entrepreneurs understand how to create value through appreciation of integrated product design involving innovations and creativity. In addition, they will recognize the importance of various stages of market and market maturity and impact of  competing forces.

Market

Market

Marketing of next-gen products/services focuses on the technology lifecycle and various stages of marketing. It progresses towards market exploration and how to carve a place in the market along with the target identification. Particpants will get a first-hand understanding of strategic and operational issues of marketing including how to deal with competition, distribution, pricing strategy, etc at various cycle stages.

Finance

Finance

This module introduces the theories, tools and techniques needed by an entrepreneur in starting, building and finally harvesting successful ventures. It focuses on long & short term financial planning, measuring and evaluating financial performance, global sources of alternative finance, how and when to interact with financial institutions and regulatory agencies central to financing ventures, including exit and turn-around startegies

People

People

Talent is a critical aspect of any start-up. This module focuses on how to identify complementary/ supplementary talent in order to build a strong and lasting founding team, as well as hiring and retaining core/critical talent. It also exposes participants to the importance of creating appropriate culture, ethos, ethics, and values.

Scale-Up

Scale-Up

It is very critical for next-gen entrepreneurs to adapt a mindset that can build scaleable ventures. Therefore, preparing well for operations that meet with global standards and structuring for growth becomes very crucial at early-stages itself.

Subsequent to the Grooming Program, in the next 6-8 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 including sustenance allowance (up to Rs. 15 Lacs), 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.

The first batch of grooming 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 second batch of grooming had participants from India and Finland with experience ranging between 2 to 6 years. This batch resulted in 7 incubation proposals of which five have been selected for incubation.

FAQ

Basic Guidelines

  • The form is an integral part of the admission process. Please provide correct information. Admission granted on incorrect information will be ipso facto null and void
  • Incomplete forms will not be considered.
  • Fill the form in the format: Font-Times New Roman; Size: 12; Line Spacing: 1.0
  • Do not attach any certificates and mark sheets or their copies to this form.
  • Scan and attach recommendation letters with the filled application form.
  • In all matters regarding admission to the program, the decision of the selection panel will be final and binding on the applicant. No correspondence from the applicant with respect to his/her non-selection will be entertained.
  • Grooming Program application deadline – May 15, 2016
  • Batch starts from July, 2016.
  • Email the filled out form to ankit@icreate.org.in

Recommendation Letter

  • Recommendation letter is a critical aspect of the selection process.
  • Specific recommendation letters from individuals who know you well enough to vouch for you and your potential like your colleague/faculty/client/business associate.
  • The letter –  can be a couple of paragraphs – one page maximum.
  • Scan and attach the recommendation letters with the filled application form and mail it to ankit@icreate.org.in
  • While we have in the past shortlisted applicants who did not attach a recommendation form, the odds improve considerably on attachment of the letter.

Fee to apply for Grooming Program

None
Fee to attend Grooming Program

  • Conditional Refundable Deposit of Rs 35,000/- for July 2016 batch.
  • The deposit shall only be returned if at the end of the Grooming program you choose to pitch a project idea and get selected for Post-Grooming Incubation. The refund shall occur six months after the incubation period starts.
  • If you get incubated, then upon spinning off as a company from the incubator, the company will be debited by Rs 75,000/- as a notional fee towards grooming.

Other Expenses

Travel, stay, meals and all other living expenses during the Grooming program is the responsibility of the participant.

Selection Criteria

  • Having business or innovative idea is not a prerequisite to join. We don’t bet only on ideas, we bet on individuals.
  • People who icreate believes have what it takes to persevere and succeed in the next generation entrepreneurial journey.
  • No specific education criteria is required to be met with. Individuals from the diverse backgrounds are encouraged to join the Grooming Program.
  • Freshers as well as people with work experience are eligible to apply.
  • Age is no bar.

Selection Process:

  • Download the application form by filling in your details
  • Applicants to email the filled out application form to ankit@icreate.org.in
  • Selection Committee to short list applicants based on the submitted applications.
  • Short Listed applicants to undergo Personal interviews. (Specific dates and venues for which shall be directly communicated to the short listed applicants.)

Selection Timeline

  • Application submission deadline – May 15th, 2016
  • Interview rounds – May, 2016
  • Announcement of selected candidates – June, 2016
  • Grooming Program begins – July 1st , 2016

For Whom

Aspiring entrepreneurs with or without a project idea or team.

Program Outline

  • The aim of the Grooming program is to equip you with the right entrepreneurial mindset, skillset and toolset.
  • It is a 13 week full – time intensive program to equip individuals for their next-gen entrepreneurial journey leveraging innovation and technology to create rapidly scalable global businesses.
  • It involves classroom sessions, ideation exercises, presentations, on and off – field activities, entrepreneur meetups, etc.
  • The knowledge is provided from a start-up entrepreneur’s perspective rather than existing large corporate perspective.
  • At the end of the Grooming phase (13 weeks), you shall have the choice and the opportunity to craft and pitch a project plan for subsequent incubation at icreate.

Course Duration

It is a 13 week full time commitment- to icreate, to your entrepreneurial aspirations and moreover to yourself. We will have our classroom sessions from 10:00 A:M – 1:00 P:M. Post 1:00 P:M you will have various activities like ideation exercises, brainstorming activities, presentations, on and off – field activities, entrepreneur meetups, etc. To sum up, you will be immersed in grooming sessions 24×7 for complete 13 weeks.

Accommodation

  • As of now, icreate doesn’t provide any accommodation to participants. We are setting up a 40 acre campus near Ahmedabad. Once operational, icreate will provide accommodation facilities to all participants. Experience the 3D walk- through of our campus here.
  • Travel, stay, meals and all other living expenses during the Grooming program is the responsibility of the participant. icreate will however facilitate the participants in making such arrangements.

Current infrastructure
Currently the centre is operating from 2500 sq. ft. modern well equipped City Office, located at 1st Floor, GMDC Building, Ahmedabad which has a Conference / Board room (20 people), a Class room (30 people), a reception lobby and office space for staff. In addition, we have expanded our City Office(3rd Floor, GMDC Building, Ahmedabad) with an additional rental space of about 5600 sq. ft. that has a Conference Room (20 people), 2 Meeting Rooms (6 people), 1 Library, 1 Reception Lobby, 1 Cabin Office, and office cubicle space for about 30 people that serves as our temporary incubation facility.

Incubation Process

Post Grooming phase, participants have an opportunity to apply for incubation at icreate. In the next 8 weeks aspirants are expected to pick an idea that has a strong value proposition around which a viable and dependable business can be built, and workout enough details to submit a skeleton business plan and an incubation proposal. Such proposals are then evaluated by an independent panel for incubation at icreate consisting of entrepreneurs, domain experts and angel/VC’s.

Incubation Offerings

  • The recommended set of projects are incubated and funded up to Rs. 15 Lakhs including monthly sustenance amounts for the founders (max 2 founders). icreate also provides office space and other required business support services apart from critical services like mentoring and industry connects to enable the incubated projects to achieve the goals of their incubation proposals.
  • All project costs (direct- project cost and indirect-allocated overheads) including the sustenance allowances (currently Rs 15,000/- per month) paid is charged to the project.
  • The Grooming Program Fee (conditional refundable deposit) is refunded to the incubatee and a notional amount of Rs 75,000/- is debited to the project costs against the Grooming Program Expenses. When the projects do spin off as start-up companies all project cost incurred will be converted as debt to the start-up company.
  • A nominal interest (9%) will be charged on this debt. It is assumed that the debt will be returned within five years of spinning off. Further icreate will take (buy) 10% equity.  Also icreate will take 1% of sales from all supported companies after the company turnover exceeds Rs 1 crore per annum for 10 years or payment of total commission of 30 lakhs whichever event occurs earlier.

Technologies of Interest

Information technology, Robotics, Electronics, Biotechnology, Bio- Medical Equipments and Devices, Nano Technology, Agro and Food Processing, Non- Conventional Energy, etc. These are not restrictive and going forward proposals from the other emerging areas of technology would also be encouraged

Business Idea

Having business or innovative idea is not a prerequisite to join. We don’t bet only on ideas, we bet on individuals.

Team

You can join the Grooming Program with/ without team. However, having a team and joining as a team does have an advantage in the long run. If you are a team then each member has to apply separately and mention the names of other members in covering letter of the application form and why this team should work together.

Already a Start-Up

You can still apply and ideally you should come with your founding team. In fact, we have had people like you applying and participating in our Grooming Program. You can refer to our website and explore the diversity of our participants.

Anchors

Testimonials

Batches