iCreate Pro-Fund Gateway

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.

What’s in for you

Business and technical mentorship

Capacity building workshops

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Access to workshop at our state-of-the-art campus in Ahmedabad

Access to library and iLab@iCreate, our rapid prototyping and digital innovation lab

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Facilities like internet, meeting rooms, tea, coffee, and food at our cafeteria

Hostel accommodation in our vibrant campus dedicated to startups

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Access to our countrywide network for expansion and growth

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Access to the startup ecosystem through participation in relevant events

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Incubation and funding support, post-utilisation of the grant

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Investor connects and Corporate connects & PoC

iCreate Pro-Fund Gateway

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

    • Renewable Energy
    • Energy Efficiency
    • Industry 4.0
    • Electric Vehicles
    • Smart Cities
    • Agritech
    • Meditech
    • Watertech
    • Healthtech
    • Digitisation


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:

  • Entrepreneur-in-Residence (EiR): Grant-in-Aid to the tune of Rs 4 lakh per resident startup will be provided to idea stage startups for validation and further development of their idea.
  • Grants: Grant-in-Aid to the tune of Rs 7 lakhs per startup will be provided to nascent startups having a definite proof of concept which are to be further developed into Minimum Viable Products (MVP).
  • Investments: Investments to the tune of Rs 40 lakhs per startup may be provided to later stage startups that are ready for commercialisation. These investments are to be used for commercial launch and/ or identifying product-market fit, subject to conditions specified by the MeitY.

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:

  • To encourage graduating student to take to entrepreneurship by providing support as a fellowship.
  • To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.
  • To create, nurture and strengthen a pipeline of entrepreneurs for incubators
  • To make pursuing entrepreneurship related to a technology business idea more attractive among options available career options.
  • To make pursuing entrepreneurship related to a technology business idea more attractive among options available career options.

 

 

NIDHI-EIR Support will be provided in following forms:

  • The NIDHI-EIR support recipient will be eligible for grant maximum of Rs.30,000/- per month with a minimum level of Rs.10,000/- per month for a period of 12 months. If NIDHI-EIR recipient raises funding or investments for their business ideas/ potential start ups, the grant support shall be discontinued from the date of receipt of the first tranche of funds.
  • As an NIDHI-EIR recipient, an entrepreneur gets office space, administrative support and a stipend to establish/make the most of their ideas and turn innovative breakthroughs into viable businesses.
  • Programme Executing Partner – TBI shall guide and mentor the NIDHI-EIR recipient in business planning and execution.

Our Focus Areas

Electric Vehicle

Renewable Energy

Fintech

Internet of Things

Watertech

Agritech

Healthtech

Who can apply

Eligibility criteria for applicants:
  • You should be an individual innovator, student, or startup
  • You should be an Indian citizen
  • Your project should be in the Idea-to-PoC development stage, or have a PoC ready
  • Your project should relate to hardware or software-based technology innovation
  • In case of the grant by the Government of Gujarat, your startup should be registered as an LLP or private limited company in Gujarat
    To get maximum benefit from this programme, iCreate strongly recommends that applicants should reside on campus. Such projects will also be given greater preference in selection

Program Timeline

1 Jul
31 Jul
10 Aug
16 Aug
20 Aug
26 Aug

Application Open - iCreate will start accepting applications for various Funds & Grants available at iCreate.

1 Jul

Application Close - iCreate will close accepting applications for various Funds & Grants available at iCreate.

31 Jul

Announcing Shortlisted Startups - iCreate will contact Startups to organize final evaluation.

10 Aug

Final Pitch - iCreate will organize Final Evaluation cum Pitching Session for selected Startups.

16 Aug

Announcing Final Result - iCreate will contact selected Startups in Final Evaluation cum Pitching Session and start the onboarding process.

20 Aug

Onboarding Startups - iCreate and selected Startups will sign Non Disclosure Agreement and Startup will start working from iCreate Campus.

26 Aug

Our Mentors

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.

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Mr. Anupam Jalote

CEO, iCreate

With an MBA from Purdue University, Anupam brings a blend of experience both as entrepreneur and intrapreneur, with expertise in strategy, tech innovation, telecom, renewable energy, and tech-led startups. He is also CEO of iCreate.

Dr. Raashid Saiyed

Marketing Consultant, iCreate

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.

Mr. Shantanu Chaturvedi

Lead Technology Analyst, iCreate

Shantanu is an avid technologist with vast experience in managing prototyping programmes for early-stage startups, end-to-end, from evaluating technologies to helping build a market-ready product. His core competencies include PCB design, circuit design and electronics.

Ms. Avani Patel

Consultant, iCreate

Avani is passionate about business, and is an entrepreneur at heart, with rich cross-sector experience. Her skill-sets include efficient execution of an idea from scratch, business operations, process planning and crisis management.

Mr. Ashish Kanaujia

Technology Innovation Consultant

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.

Mr. Siddharth Amin

Technology Innovation Consultant

Siddharth Amin is a Electronics and communications engineer. As a test pilot, he has clocked more than 10,000 flying hours on Radio Controlled aircraft as well as Unmanned Aerial Vehicles over 25 years. He has also been an instructor for Indian Army personnel for flying radio controlled aircraft as part of their Air Defence Exercises. He was part of Project Eagle Eye. This project involved the development of a UAV for the 21 SATA Regiment of the Indian Army. He has piloted a UAV that validated a Guinness World Record for the world’s longest painting in Vadodara in 2009. He has over 15 years of experience in UAV design and Engineering and have been involved in the Research and Development activities, as well as the design and fabrication of the UAVs. He has developed breakthrough Autopilot Systems, OSD modules and Power Supply Units, that have been used in the company’s products successfully. He has been involved in the design and fabrication of UAV airframes.

Mr. Shantanu Poddar

Marketing and Sales Consultant

Versatile, Accomplished Sales Professional with a proven track record in diverse sectors like Telecom, Office automation and currently Automobile.

Testimonials

What our supported Startups have to say

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.

Abdul Azeez Khan

Co-Founder, Fasmho Energy

iCreate helped us in getting connected to like minded people and mentors when most needed. I would like to thank the iCreate team for always being there for us anytime we needed your support and have gone out of their way to help me personally and our company whenever we faced any challenge.

Rajat Yadav

Founder, Aeidth Technologies

Convert your Idea into Prototype and Market ready product
with support of iCreate's Pro-Fund Gateway