Icreate- An International Incubation Center In Gujarat
Narendra Modi launched an incubation center for entrepreneurship development among youth. The center is based on a 35 acre plot near Ahmadabad. It was launched on the 11 September (9/11) to coincide with the 1893 A.D. event of Swami Vivekananda mesmerizing the world.
The main question is, has it already started functioning? What do you think about it?
The main question is, has it already started functioning? What do you think about it?
Replies
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ISHAN TOPREHere is how to get selected-
An evaluation panel chooses suitable individuals, or teams – with or without a specific business idea – that show high entrepreneurial potential. icreate then grooms them, helps them explore, select and nurture entrepreneurial ideas. Thereafter, the selected projects are incubated wherein funds and facilities are made available. Eventually, icreate will take equity in the projects beyond the incubation stage after they spin off as start-ups.
What are the focus areas of Icreate?
For first three months, candidates will pay fees towards grooming, in months 4 and 5 business plan will be develop for approval. Between 6-18 months, selected projects will get loans and teams will receive some sustenance. Between 5-15 years icreate will invest in the company as private equity.
Focus areas of icreate are Information technology, electronics, biotechnology, nano technology, robotics, non-conventional energy – green, bio-medical equipment and devices, and agro and food processing.
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