Entrepreneur grooming program

About program

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.

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.

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

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. Building and managing start-ups is vastly different than running established firms

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

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

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

Marketing of next-gen products/services focuses on the technology life cycle and various stages of marketing. It progresses towards market exploration and how to carve a place in the market along with the target identification. Participants 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

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 strategies

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

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 defend able 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 – ongoing
Batch starts from – To be decided
Email the filled out form to info@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 info@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 2019 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 a business or innovative idea is not a prerequisite to joining. 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 are required to be met with. Individuals from 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 the application form to info@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.)

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 AM – 1:00 PM. Post 1:00 PM 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.

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

Team

You can join the Grooming Program with/ without a 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.

Testimonials

Shobhit Gupta (Incubated at icreate)

Grooming Program is a ‘gurukul’ for entrepreneurship and it becomes obvious the very first day in the way the mentors take you as a part of the icreate family. It helps you to remove all the fluff in your thinking and build razor sharp focus on building things. And it does not stop here – The mentors also push you to think beyond the product to a sustainable venture around it – Team, Finance, Strategy, Willingness, Feasibility, Law and you – All these questions are posed in front of you to broaden your vision. Grooming is the right spark to instill a fire in your belly. You will come out of it with the understanding of the responsibility of entrepreneurship. Go for it!

Mehul Agrawal (Participant – Grooming Program Feb 2016)

I am grateful to be a part of icreate and it’s Grooming Program. Before joining the grooming program I was already working for my venture, however, by the end of 13 weeks ride I have improved my business’s goal with more clarity and great focus. The program proves to be a turning point for me. Thanks to the amazing mentors, I have broadened my horizons, improved my skills & knowledge and finally discovered my sweet spot. Grooming Program is a complete package for being a successful entrepreneur.

Amartya Gupta (Participant – Grooming Program Feb 2016)

A tall building stands on a strong foundation; likewise knowledge builds upon a foundation based on understanding and icreate’s Grooming Program has given me a deep understanding of entrepreneurship on which I would like to build my enterprise. Along with the understanding, it has also helped me to reshape my mindset, which was not geared towards starting a business. All these happened through practical and theoretical teaching by great faculties who have been an entrepreneur themselves. Today I can proudly say that icreate has made me more confident and given me a stepping stone.

Puneet Asawa (Participant – Grooming Program Feb 2016)

Without a doubt, the icreate’s Grooming Program has changed the trajectory of my life. It gifted me a skillset to make the ideations into reality. My eyes were opened to what it truly means to relentlessly pursue opportunity with or without regard to resources. Mentors at icreate helped me in laying the foundation for the dreams which I’m now pursuing. The adventure and excitement embedded in meeting the everyday challenges of wide open opportunity, engendered a love for challenge and a desire to solve big problems is what this program has given me. It’s absolutely worth your time & efforts.

Jivitesh Jadwani (Incubated at icreate)

I feel grooming program was an essential phase of my life before embarking upon my entrepreneurial journey. It is as essential as training required before playing a sport. The subject is huge and i think one should always learn something about it before going on field. At the end, it gave me insights, broadened my horizon in terms of thought process and I was able to come up with an idea and also validate it. Some would say, why not learn straight on the field. I believe, it’s my dream and I can’t do trial and error with this. And yes I got access to money and mentors. Now, I am working on making the market!

Deepak Gupta (Founder- PurpleDocs)

Prior to joining the Grooming Program by icreate in March 2013, I was already running my venture for past 2 years and thus had first-hand experience of entrepreneurship. However, pre-grooming, my approach to the whole the start-up game was unstructured. During the 12 weeks program, we underwent all the aspects of starting and running a technology venture right from idea generation, product / service conceptualization, product development, marketing, sales and finance. Listening and interacting with other successful entrepreneurs from the business world provided an altogether fresh and different perspective. Sharing the classroom with other budding entrepreneurs and brainstorming sessions with them were very helpful. Had I attended the same program before venturing out, I would have done my start-up very differently. The 12 weeks teaches you a disciplined and structured approach to entrepreneurship and that, I believe, improves the odds to succeed.

Sreejith Satheesh (Participant – Grooming Program Feb 2015)

I came to know about the Grooming Program at a crucial point during my entrepreneurial journey. The most valuable takeaway for me from the program was to look at any idea from an impassioned and objective lens. The mentors repeatedly ask you one important question -“Why entrepreneurship?” – which leads each one of us to break our ‘make a quick buck’ attitude and pushes us to create ‘built to last’ companies. What icreate provides is an open forum for one to meet and discuss ideas and whether it is the right one for you to pursue or not. icreate hence is a platform for the visionaries who are not satisfied with creating yet another e-commerce app but want to create organizations that create real value.

Arun Nagpal (Founder- Lithe Technologies)

icreate is an opportunity, which you get only if you are lucky. Mentorship started even before I joined the Grooming program. All modules and aspects of the program made me realize where I was right and wrong in my entrepreneurial journey. The realization and acknowledgement happened on a daily basis.

Shilpa Malik (Founder- BioScan)

I am not from a medical background and still working on a healthcare problem. icreate gave me confidence and direction. icreate helped me to refine my ideas. It provides an ecosystem where you can talk to fellow entrepreneurs and feel motivated. People don’t invest enough time to discover themselves. icreate nudges and helps you to discover yourself. Being an entrepreneur, it is important to know where your heart lies.

Vidit Shah ( Founder- YoloPerk )

Grooming Program helps you to mentally prepare yourself for the entrepreneurial journey! Entrepreneurship is not easy and it requires tenacity and grit to be successful. The Grooming Program exposes students to various facets of entrepreneurship like managing finance, building team, ideation, execution, marketing. It helped me to evaluate close to 30 odd ideas before settling down with the best one that falls in my sweet spot