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.