Startups with a vision, mission and passion need direction, support system and recognition. iCreate connects these dots and helps us stay on the track of success.
This is iCreate’s gateway to the best prototype-stage funding options. When it comes to funding for startups in the proof-of-concept or prototype development stage, as a government-recognised Technology Business Incubator, iCreate offers a bouquet of varied schemes from a host of reputed institutions, belonging both to the Government of India as well as the Government of Gujarat.
Grant up to Rs 2 lakhs by iCreate
iCreate’s Technology Exploration Cell (TEC) aims to encourage entrepreneurs by supporting them in developing a working model or proof-of-concept of their idea.
The TEC grant is residential, sector-agnostic, and projects from any domain can apply. The only requirement is that the project should have an element of technology innovation at its core. There is no restriction on who can apply, so everyone – from working professionals to students – is welcome! And true to its name, the TEC also supports selected startups with the tools and the confidence to explore the different possibilities offered by technology – through mentoring, hand-holding, orientation and reviews at various stages.
Through this grant, the candidate will receive an amount of up to Rs 2 lakhs, and the proof-of-concept must be developed in 90 days.
The grant is completely no-cost and non-returnable, and is normally disbursed in four tranches – the first tranche in advance, and the remainder tranches are subject to suitable progress by the candidate.
Grant up to Rs 10 lakhs by the Department of Science & Technology, Government of India
The National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.
The NIDHI-Promotion and Acceleration of Young and Aspiring technology entrepreneurs (NIDHI-PRAYAS) programme, is one of the programmes introduced under NIDHI, focussing on addressing the idea-to-prototype funding gap.
This programme is designed to attract the youth to come forward to try out their ideas by developing the prototype without the fear of failure, and assess if they will work in real-life business situations. The programme aims to provide innovators a platform where they can quickly experiment and reiterate their working models in the idea-to-market journey. Selected applicants are referred to as PRAYASEEs.
iCreate is a government-recognized Technology Business Incubator and DST-recognized PRAYAS Centre
The NIDHI-PRAYAS grant is handled by iCreate in its capacity as an recognized PRAYAS Centre, and we also provide the necessary physical infrastructure, and technical and business mentorship.
The total amount disbursed will be up to Rs 10 lakhs and the project term will be up to 18 months, extendable by 6 months based on progress review by the PRAYAS monitoring committee at iCreate. We are primarily focusing on applications related to
The project should involve physical product development, not software development or pure academic research. The grant can be utilised for R&D or testing outsourcing, raw material, fabrication, business travel, patent filing, etc. . Preference would be given to young innovators, women innovators, projects which are bootstrapped or have got a co-investment commitment, and those with a clear roadmap for the startup creation or commercialisation.
Grant up to Rs 7 lakhs by Ministry of Electronics and Information Technology (MeitY), Govt of India
Technology Incubation and Development of Entrepreneurs (TIDE) 2.0 envisages to promote tech entrepreneurship through financial and technical support to incubators engaged in supporting ICT startups that use emerging technologies such as Internet of Things, Artificial Intelligence, Machine Learning, Big Data Analytics, Embedded Systems, IoT. The tech startups supported under the scheme should address societal challenges in seven thematic areas, identified based on national priorities – Healthcare, Education, Agriculture, Financial inclusion including digital payments, Infrastructure & transportation, Environment, Clean technology & clean energy.
The scheme envisions creating a holistic ecosystem to support technology startups and incubation centres through identifying and creating necessary linkages. It is supported by the MeitY Startup Hub (MSH) which aims to ensure crisscrossing of technology resources across the innovation ecosystem to come out with technology solutions to various societal challenges.
iCreate is a recognized Incubation Centre under TIDE 2.0
iCreate is entrusted with the mandate of implementing key deliverables associated with the scheme, including financial support to select startups:
Grant up to Rs 30 lakhs by the Government of Gujarat
Startup Gujarat is an initiative of the Govt of Gujarat which aims to empower the youth by promoting startups and incubators, and through them technology-based innovation. More than 60% of Gujarat’s population is in the age group of 15-59. This means a young workforce, with an innovative and entrepreneurial mindset that goes beyond just seeking employment.
As part of this initiative, iCreate provides support and mentoring to Gujarat-based startups. Grants are available for up to Rs 30 lakhs for both Product Development and Go-to-market, for a duration of 12 months.
NIDHI-EIR Programme is meant for potential innovative entrepreneurs at selected DST approved Technology Business Incubators. The NIDHI-EIR Programme would provide subsistence grant to an aspiring or budding entrepreneur of considerable potential for pursuing a promising technology business idea.
The Programme aims:
NIDHI-EIR Support will be provided in following forms:
At iCreate, we recognise how important good mentors are to guiding, challenging, motivating startups in translating their dreams into reality. We assign each startup a mentor or a group of mentors to shape the desired outcome as per a pre-planned schedule. Seasoned and accomplished technical as well as business mentors guide all our projects with a mandate to drive the startup founders towards achieving mutually determined outcomes.
With diverse experience across industries, consulting, academia and startup incubation, Dr Saiyed is a CEO coach and mentor to startups, specialising in strategy and marketing. His areas of interest include guiding organisations in building attractive valuation, and articulation of innovations that have distinctive value propositions.
Highly experienced technology professional with 32 years of diverse expertise, holding degrees from India's renowned institutes. Vast contributions in Set Top Boxes, Web Technologies, IoT, Bluetooth, Cryptography, RFID, and more. Guided research projects on media convergence, medical sciences, and mentored successful technology startups. Expertise in software development for Clinical Trials, HR, Security, GIS, Remote Sensing, and Image Processing. Actively involved in various technology forums. Skilled in analyzing business needs, defining technical vision, and streamlining operations to deliver successful products. Continuously updating knowledge through academic and research institutions. A risk-aware consultant with deep business insights.
With 30 years of multinational company experience, including Quest Global, Wipro Technologies and AremisSoft, Dr. Sanjeev is a seasoned leader adept at delivering global programs across diverse domains and technologies. Skilled in strategising, conceptualising, and crafting technical roadmaps, he excels at establishing and managing niche technology practices.
Ashish Kanaujia is known for the conversion of ideas from lab scale to commercial scale. He brings more than 20 years of experience in multiple dimensions of technologies, Ashish’s area of expertise varies from Artificial Intelligence, Internet of Things, and Brain Computer Interface to Healthcare as well as ICT. He has worked as a consultant with various offshore clients and MNCs. Ashish is very instrumental in mentoring startups and already running incubation centres at Greater Noida, Lucknow and Kanpur. Currently, he is mentoring and providing technological guidance to a number of startups at iCreate (a Government of Gujarat TBI). His experience to work with engineers, academicians, patent attorneys and being inventor by himself make him sync well with the new emerging technologies. He has been an expert in software and electronics. He has been instrumental in ideation and implementation of various electronics and software products in different capacities.
Convert your Idea into Prototype and Market ready product
with support of iCreate's Pro-Fund Gateway
