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. Building 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 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

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

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 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.