International Centre for Entrepreneurship and Technology

What International Centre for Entrepreneurship and Technology does

International Centre for Entrepreneurship and Technology (iCreate) is a technology business incubator headquartered on a 40-acre campus at Dev Dholera, Ahmedabad, Gujarat, established in 2012 and structured as a 50:50 joint venture between state-owned Gujarat Mineral Development Corporation (GMDC) and the Gujarat Entrepreneurship and Venture Promotion Foundation (GEVPF), with backing from the Government of Gujarat and the Government of India. iCreate's core offering is a 'high-touch, entrepreneur-first' incubation stack spanning idea-stage (iCreate Idea Catalyst, Sparkup Idea Fund), seed-stage (ISA, NIDHI-SSS, Pro-Fund Gateway), and specialised sector programs (EVangelise for EV sub-components, iCreate Drone Challenge for UAVs, EV Centre of Excellence, India-Israel Innovation Accelerator). Operationally it provides on-campus residency for up to 100 incubatees, iLab prototyping facilities, Cisco's largest Innovation Lab in India, mentorship, and structured access to grant funding (including Rs 25-45 lakhs via NIDHI-SSS in exchange for 7.5% equity at par).

iCreate serves technology startups across verticals such as electric vehicles, agritech, healthtech, fintech, renewable energy, IoT, and robotics, alongside students, corporate partners (Uber, Mahindra Logistics, Cisco, Altair, Mathworks, Sona Comstar), investors (Micelio, TiE India Angels), and government bodies (MeitY Startup Hub, Startup India, DPIIT). The revenue model combines government grant pass-through, modest program fees (e.g., INR 40,000 for ISA), CSR contributions visible on a donor wall of PSU banks and energy majors, and equity stakes from funded programs. Its go-to-market is community-led, channelled through events (1,506 events conducted to date), international accelerator programs (Israel via i3A, with partnerships extending to Uzbekistan, US, and European institutions), and academic referral networks (IIT Gandhinagar, BITS Pilani, GTU, RK University).

Cumulatively iCreate reports 912 startups supported, 63+ patents filed, 1,596 jobs generated, and aggregate revenue of INR 45 crore across its startup network (a network metric rather than iCreate's own revenue). It won the National Award for Technology Business Incubator in 2020 from NSTEDB, Department of Science & Technology, Government of India. As a government-supported institution with no disclosed external funding rounds and 11-50 employees, iCreate operates as a mission-driven ecosystem platform rather than a venture-backed commercial entity, with growth funded primarily through state appropriations and CSR inflows.

Name

International Centre for Entrepreneurship and Technology

Legal name

International Centre for Entrepreneurship and Technology

Website

https://icreate.org.in

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

iCreate is a Gujarat-government-backed technology business incubator in Ahmedabad that supports deep-tech startups from idea to scale-up through on-campus incubation, seed funding, prototyping labs, and specialised programs in EVs, drones, and India-Israel collaboration.

Ownership category

akta.pro rank

Product category

Technology Business Incubation

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Technology business incubation
• Startup accelerator programs
• Seed stage funding
• Innovation ecosystem development
• Entrepreneurship support services

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Incubation Services: iCreate operates as an autonomous centre of excellence of the Government of Gujarat, supported by the Government of India. It provides incubation services to startups through various programs including seed funding, accelerator programs, and mentoring support.
2. NIDHI Seed Support System: Seed support program providing Rs 25 lakhs to Rs 45 lakhs to qualifying startups, with iCreate purchasing 7.5% equity at par. In exceptional cases, additional investment up to Rs 100 lakhs can be sanctioned. Total amount is treated as interest-bearing debt to be repaid.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

iCreate is a government-supported technology business incubator that supports technology-based startups from idea through scale-up stages. It offers a portfolio of programs including ideation-stage support (Sparkup Idea Fund, iCreate Idea Catalyst), prototyping and seed funding (iLab, Pro-Fund Gateway, NIDHI-SSS), an intensive seed-stage accelerator (ISA), and specialised challenges and international accelerators (EVangelise, iCreate Drone Challenge, India Israel Innovation Accelerator), along with mentoring, market access, and corporate and investor connects.

Product overview

iCreate (International Centre for Entrepreneurship and Technology) is a technology business incubator operating as an autonomous centre of excellence of the Government of Gujarat. The organization offers a comprehensive startup support ecosystem through multiple programs: Idea Catalyst (iIC) and Sparkup Idea Fund for ideation-stage entrepreneurs; Pro-Fund Gateway and iLab for prototyping support; the Seed-Stage Accelerator (ISA) for early-market startups; and NIDHI-SSS for scale-up stage ventures. Specialized initiatives include EVangelise (EV innovation challenges), the iCreate Drone Challenge, and the India Israel Innovation Accelerator (i3A) for international collaboration. The organization also operates an EV Centre of Excellence and provides access to a 40-acre campus with world-class facilities including Cisco's largest Innovation Lab in India.

Differentiator

Problem solved

Functional benefit

Products and services

• iCreate Technology Business Incubator
• iCreate Idea Catalyst (iIC)
• iCreate Seed-Stage Accelerator (ISA)
• NIDHI-SSS (Seed Support System)
• iCreate Pro-Fund Gateway
• iLab@iCreate
• Sparkup Idea Fund
• EVangelise EV Innovation Challenge
• iCreate Drone Challenge
• India Israel Innovation Accelerator (i3A)
• Prarambham
• EV Centre of Excellence (EV CoE)

Quantifiable outcome

• 912 startups supported
• +5 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

25 partnerships are on record, tiered core, flagship, major and minor.

• Government of GujaratcoreStrategic or Co-development PartnerPrimary supporting government body. Government plays vital role as champion of vision to address India's big challenges using innovation and empower Indian youth.
• Government of IndiacoreStrategic or Co-development PartnerSupporting institution providing recognition as Technology Business Incubator and various national programs.
• Gujarat Mineral Development Corporation (GMDC)coreStrategic or Co-development PartnerState-owned enterprise forming 50% of iCreate's joint venture structure along with GEVPF.
• Start-Up Nation Central (SNC), IsraelflagshipStrategic or Co-development PartnerNon-profit organization connecting Israeli technologies with multinational corporations, governments, investors. Created India Israel Innovation Accelerator (i3A) together. MoU signed September 2020, first batch launched February 2021 with 6 Israeli startups.
• CiscocoreTechnology or IntegrationHome to Cisco's largest Innovation Lab in India. Partnership for technology innovation and integration support.
• CSIRflagshipStrategic or Co-development PartnerMoU signed April 2022 to establish collaborative support system for promising tech startups. CSIR labs will provide equipment, facilities, scientific manpower, and IP support.
• UbermajorGTM or Marketing PartnerPartnership on Green Mobility Innovation Challenge with Startup India. Uber providing mentorship and Rs 7.5 million in grants to top 5 startups.
• MeitY Startup HubmajorStrategic or Co-development PartnerGovernment organization supporting startup ecosystem. Partner for EVangelise challenge and various technology programs.
• IIT GandhinagarmajorStrategic or Co-development PartnerAcademic partnership for innovation and entrepreneurship support.
• TechnionminorStrategic or Co-development PartnerIsrael Institute of Technology partnership for international collaboration.
• University of HoustonminorStrategic or Co-development PartnerInternational academic partnership for technology collaboration.
• Mahindra LogisticsminorGTM or Marketing PartnerCorporate partnership for innovation and startup engagement.
• AltairmajorTechnology or IntegrationTechnology partner providing simulation and design tools support for EV and technology innovation programs.
• MathworksmajorTechnology or IntegrationPartner for EVangelise challenge providing technical expertise and software tools.
• Sona ComstarmajorStrategic or Co-development PartnerEV components manufacturer partnership resulting from India Israel Innovation Accelerator - deal between Israeli startup IRP and Sona Comstar.
• GIFT CitymajorStrategic or Co-development PartnerGujarat International Finance Tec-City collaboration to promote fintech innovation.
• AGNIiminorStrategic or Co-development PartnerNational Technology Commercialization Program under PM-STIAC mission. Partner for EVangelise challenge.
• CIIE.COminorStrategic or Co-development PartnerIndia's leading incubator and accelerator partnership for startup ecosystem development.
• Society of Manufacturers of Electric Vehicles (SMEV)minorStrategic or Co-development PartnerIndustry association partnership for EV ecosystem development and EVangelise challenge.
• Invest IndiaminorStrategic or Co-development PartnerNational Investment Promotion Agency partnership for investor engagement.
• Israel Innovation AuthoritymajorStrategic or Co-development PartnerGovernment innovation authority supporting India-Israel technology collaboration.
• Pears Program for Global InnovationminorStrategic or Co-development PartnerInternational program partnership for global innovation support.
• ICRISATminorStrategic or Co-development PartnerInternational agricultural research organization partnership for agritech innovation.
• IT Park UzbekistanminorStrategic or Co-development PartnerInternational incubation center partnership for cross-border innovation.
• Bootup VenturesminorChannel Partner/ Reseller/ DistributorUS-based startup ecosystem partner for international collaboration.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• T-Hub: India's largest startup incubator, based in Hyderabad. Like iCreate, it is a government-supported (Telangana state) technology business incubator offering cohort programs, mentorship, and corporate partnerships across deep-tech, healthtech, and other sectors.
• CIIE.CO: Technology business incubator at IIM Ahmedabad, focused on early-stage startups across sectors. iCreate is explicitly a CIIE.CO partner, and both serve as Gujarat-based incubators with similar program structures and target segments.
• SINE (Society for Innovation and Entrepreneurship): IIT Bombay's technology business incubator, providing incubation, seed funding, and lab access to deep-tech startups. SINE operates a comparable high-touch, technology-focused model anchored in a premier Indian academic institution.
• IIT Madras Research Park: India's first university-based research park, hosting deep-tech and engineering startups with lab and prototyping infrastructure. Like iCreate, it emphasizes technology commercialization and provides access to advanced R&D facilities.
• Start-Up Nation Central: Israel's national innovation hub connecting Israeli technologies with global corporations, governments, and investors. Start-Up Nation Central is iCreate's flagship international partner (i3A accelerator) and is structurally similar as a non-profit, government-affiliated innovation ecosystem builder.

Broad incumbents

• Atal Innovation Mission (NITI Aayog): Government of India flagship program to promote innovation and entrepreneurship across the country, including Atal Incubation Centres. AIM operates as a broader national umbrella, while iCreate functions as a more specialized, deep-tech-focused state-level node within the same ecosystem.
• Y Combinator: The world's most prominent startup accelerator. While geographically and structurally different (privately funded, US-based), YC serves as a global reference model for the high-throughput, cohort-based accelerator approach that iCreate's ISA program emulates.
• TiE (The Indus Entrepreneurs): Global non-profit fostering entrepreneurship through mentoring, networking, and funding across 60+ chapters. TiE India Angels is an iCreate partner, and TiE shares iCreate's focus on connecting entrepreneurs with investors and mentors at scale.

Emerging players

• Villgro: India's oldest social enterprise incubator, with focus on health, agriculture, and clean energy startups. Villgro is comparable to iCreate in its early-stage, impact-oriented incubation model but with a narrower sector focus.
• Brigade REAP: Bangalore-based accelerator for early-stage startups focused on speed-to-market, backed by Brigade Group. Brigade REAP shares iCreate's emphasis on cohort-based programs and structured mentorship, though it is privately funded rather than government-supported.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/icreatenextgen
• YouTubeyoutube.com/icreatenextgen
• Facebookfacebook.com/icreateNextGen
• LinkedInlinkedin.com/company/2548602
• Instagraminstagram.com/icreatenextgen

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments19 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about International Centre for Entrepreneurship and Technology