To meet the growing requirement of finance for the start up entrepreneurs and encourage innovative ideas in the technology space, the iCreate (International Centre for Entrepreneurship & Technology) plan to rope in venture finance players to WhatNext 2015 annual flagship programme in Ahmadabad from 13th March.
The event will see large number of entrepreneurs and individuals interested in technology innovations from across the country. As many as five venture capital investor companies, including Acumen PE Fund, Kalaari Capital Advisors and GVFL Limited among others will be present there.
In September 2011, the then Gujarat Chief Minister Narendra Modi had launched iCreate as an autonomous centre of excellence with its own incubation centre and to promote next generation entrepreneurs. It is guided by an advisory board led by Infosys founder N R Narayana Murthy.
“This is for the first time we will have VCs participation in our flagship event. This will increase the prospects for seed funding to the start-ups,” said Dr. Madhukumar Mehta, Chief Mentor, iCreate.
The theme of this year’s event will be “The Journey-Converting Ideas into Wealth” for the opportunities in the realm of 12 empowering technologies relevant to India like bio-technology, agro-technology, nano-technology along with information and communication technology, as identified by McKinsey Global Institute.
In this regard, iCreate will hold a conference on March 13 with Israel-based academic and practitioner Dr, Harry Yukela as its convener along with speakers like Prof. Oded Shoseyov from Hebrew University Jerusalem and Sunil Parekh, founding curator and GSI at World Economic Forum in Geneva.
There will be a special feature for investors to pitch-in with start-ups in an entrepreneur and Venture Capital speed-dating format, where they can meet and discuss on one-to-one basis.
Founding team member and iCreate director Parag Amin said that the platform will provide the Indian entrepreneurs an overview of the local problems and opportunities along with global vision, technologies and solutions to address them.
The centre is working under the aegis of Gujarat Foundation of Entrepreneurial Excellence. The Gujarat State Government has approved a fund Rupees 70 crore for iCreate, while the start-ups are also likely to get a fund of Rupees 2 crore from the next financial year.