Practical Entrepreneurship Development Model developed by I Create has been acclaimed as the most appropriate one for the grassroots level. For the benefits of such a model to reach a vast number of beneficiaries in our country, it has decided to scale through strategic partnerships with institutions and organizations of State and National level thus institutionalizing the Entrepreneurship Development Process through them.
I Create India has active partnership and executed MoUs with many National and State level government and private organizations. Some of these are:
(National Institute for Entrepreneurship and Small Business Development) to collaborate in providing Entrepreneurship Education and Training to promote a culture of entrepreneurship across the country.
Highlights of the MoU
a) To provide Entrepreneurship Education and Training to promote Entrepreneurship.
b) Help prepare fully functional business plan which has everything the new entrepreneur need from planning to execution for a specific business in prescriptive, easy to understand formats.
c) Provide end to end handholding support to potential entrepreneurs for setting up enterprises and providing necessary mentoring support.
d) Guidance in obtaining funding for the enterprise if needed.
Under the scope of this MoU, a Business Incubation Center has been established at Bangalore – NICBIC.
It provides facilities such as providing guidance and information both for aspiring and current entrepreneurs to formulate their business plans, various banking schemes for funding the enterprise etc.
NICBIC is focusing on helping the Aspiring Entrepreneurs “take the idea to the market”.The emphasis is on mentoring them on market research, customer identification, determining the economics of the business in terms of cost computation, price determination, assessing cash requirement, business plan preparation, credit linkage guidance etc.
Structured formats and checklists have been developed by I Create in order to assist the Aspiring Entrepreneurs who are registered for the mentoring guidance from NICBIC. These formats are used at the various stages as follows:
1. Counselling: I Create experts counsel the walk- ins and the people who have been directed to NICBIC from various Govt. Agencies through our network. The Protégé is first counselled on the Idea Generation and is asked to enrol for mentoring in the NICBIC.
2. Enrolment form – This is obtained during the initial interview where the candidate will define his business idea and express his willingness to seek guidance from NICBIC
3. Mentoring Engagement letter – On assessing the ‘need’ of the candidate and ‘ability’ of the NICBIC to mentor the candidate, he/she will sign up as protégé and we provide mentoring and guidance by connecting them to relevant experts .This also stipulates the fees/donation payable by the protégé.
4. Mentoring Check-list – To realise the protégé’s potential to take the “idea to the market” various techniques viz., questioning, probing, guiding, directing etc. are used to elicit information on market research, customer identification, determining the economics of the business in terms of cost computation, price determination, assessing cash requirement etc.The protégé will get this information on visiting the market place.
5. Business Plan – At the end of the mentoring the Protégé will be ready with a bankable business plan.
6. Handholding - I Create help in documentation and legal processes of the Protégé, like getting Udyog Aadhar number, drafting of partnership deeds if needed, registration of the business under shops and establishment Act etc., In cases where business has already commenced I Create team helps the protégé to overcome the challenges faced in the business steadily. Cash book and cash flow are closely monitored and moral support is provided by the team.
Directorate of Indian Army Veterans (DIAV) and I Create India (I Create) have entered into an MOU for establishing Business Incubation Centers (BIC) in different Army locations in the country to help those of the retiring army veterans, who want to embark on their entrepreneurship journey, with training , mentoring and handholding.
In the initial phase, following six locations have been selected for establishing BICs:
1. Armoured Corps & Center-Ahmednagar,
2. AMC Center- Lucknow,
3. MEG & Center- Bangalore,
4. Maratha Light Infantry Regional Center- Belgaum,
5. Rajputana Rifles Regimental Center- Delhi,
6. Army Air Defence Center- Gopalpur, Odisha.
Pratham is a well-established and widely recognized nonprofit organization, with its presence in more than 20 States in India. It started its work in the field of Education, then added skill training. Currently, it has more than 100 centers across the country for providing Vocational Skills Training. Visualizing the urgent need and potential benefit of providing entrepreneurship skills to the unemployed as well as skilled youth in the country, Pratham has partnered with I Create India. As Strategic Partners, we will enhance capacity in entrepreneurship development at Pratham for establishing Business Incubation Center in various parts of the country. At each of these centres, I Create trained faculty of Pratham will be involved in creating awareness about entrepreneurship among the skilled youth, providing training in entrepreneurship skills as well as mentoring those who wish to start their own enterprise and handhold them, once the business is started. Rotary Club of Madras Coramandel (RCMC) is a member of Rotary International under District 3232. It has partnered with I Create to establish a Business Incubation Center in its operational area and provide training & mentoring to beneficiaries of the are.
United Nations Development Program (UNDP) & I Create India is empanelled by the United Nations Development Program (UNDP) for engagement with Disha project for improving the lives of women and girls in India. Disha Project seeks to positively impact the lives of one million women in India through training, entrepreneurial skill development and employment, as well as to develop a new model of public-private collaboration that can be adapted and replicated across India. The aim is to help women become economically self-sufficient so that they, their families and future generations can have better opportunities in life.
SKF India Ltd, through its flagship CSR project YES (Youth Empowerment at SKF), tries to create positive changes in the life of communities. One of the programs being run by SKF under the YES project is skill training in two wheeler repair and servicing. It has incorporated, through an MoU executed with I Create India, its Entrepreneurship Development program as an integral part of YES. The skilling and entrepreneurship development runs in different parts of the country – Maharashtra, Karnataka, Uttarakhand and Assam.
I Create India is partnering with the Department of Youth Empowerment & Sports, Govt. of Karnataka to provide Skills and Entrepreneurship Training for the youth in the age group of 18-35 years . The training workshops were conducted at 10 areas in Rural Karnataka covering 295 participants. Overall the program was very successful with 26 trained participants starting their business and becoming successful Entrepreneurs with I Create Mentoring and Access to Capital through our MAGIC fund.
I Create also works through number of partner NGOs and Corporates to impart Entrepreneurship Training at the Grassroots Level.