What is iCreate Incubation Centre?

What is iCreate Incubation Centre?

Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu on Wednesday inaugurated the iCreate centre in Ahmedabad. Called as the International Centre for Entrepreneurship and Technology (iCreate), the venture has been started to promote and nurture entrepreneurs by providing them finance, mentors and technology.

What is iCreate?

A joint venture between Gujarat Mineral Development Corporation Limited (GMDC) and Gujarat Entrepreneurship and Venture Promotion Foundation (GEVPF), iCreate is an independent centre to promote Narendra Modi’s ‘Start-up India’ scheme. The centre aims to provide technology and assistance to “the innovative and imaginative minds in their entrepreneurial journey.”

Who are part of the project?

Business leaders from various sectors have associated with the project. Under the helm of Dilip Shanghvi, MD, Sun Pharmaceutical Industries Limited, the advisory board also consists of Uday Kotak, Executive Vice Chairman and MD of Kotak Mahindra Bank, Narayan Murthy, Infosys co-founder and Professor Jagdish Bhagwati among others.

How does iCreate function?

iCreate provides 13-week grooming program to equip an individual with the right skill and tools required in the entrepreneurial world. At the end of this, the participants have the option to pitch their idea for further development. The proposals are evaluated by an independent panel and selected subsequently. Financial assistance up to Rs 50,000 is provided by the venture for few deserving pitches. Apart from this, a platform is also provided for the participants to meet leaders from various sectors.

Who can participate in iCreate?

Students, existing entrepreneurs, traders, small sized businessmen can participate in the program. The skeleton business panel will be evaluated by the mentors and further guidance will be provided.

Why the name iCreate?

“The ‘i’ of iCreate has been kept in small letters for a reason. The biggest hurdle towards creativity is ‘I’ becoming big,” Narendra Modi said during the inauguration.

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Source: The Indian Express

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