International Centre for Entrepreneurship and Technology – iCreate is inviting applications for incubation of slightly mature projects, to be incubated at its new Dev Dholera Campus near Ahmedabad, Gujarat. The period of incubation can be up to two years, and iCreate has dedicated a budget of up to Rs 250 lakhs for this round of applications.
If you have been working on an innovative technology / software / product/ service, and have spent time talking to real consumers of your offering, and have created some minimal viable product offering, then apply. We can offer you labs and workshops to finalize your offering, help take it to live customers to make it market ready, and also to mentor you so that you can build a growth organization and start earning serious revenue.
The sole objective of the NIDHI-Seed Support System (NIDHI-SSS) is to ensure timely availability of the seed support to the deserving incubatee startups within an incubator, thereby enabling them to take their venture to the next level and facilitate their success in the marketplace.
The scheme also enables the STEP/TBI to widen their pipeline of startups and also share the success of their startups which would also result in ensuring their long term operational sustainability.
The experience tells us that the normal requirement of seed support is to the tune of Rs. 25 lakhs. However, in few exceptionally deserving startups , the upper limit of seed support to a start up may be raised to Rs. 100 lakhs. A startup supported once will not be eligible for applying for subsequent rounds of seed support to any STEP/TBIs. The STEP/TBI should have examined all cases of seed support before putting the matter up to the Seed Support Management Committee for selection. After the seed support is recommended to an incubatee startup , the terms of agreement with the incubatee start up should be framed by the STEP/TB linking the progress milestones, monitoring norms, reasonable repayment, recovery provisions in case of loan and terms of equity liquidation in case of equity holding by STEP/TBI.