About IBAC

IBAC would connect business from West Bengal export-ready new-to-market, new-to-export businesses with International Trade Specialists who can personally deliver the tools, strategies, and expertise needed to help grow and succeed abroad.  The centre would engage with incubatees and businesses for their technology evaluation and growth, with measurable impact.

Innovation Business Acceleration Center

IBAC MISSION

Providing businesses the expertise and resources to nurture, scale and expand.

IBAC VISION

Building a better business ecosystem for all.

Incubation Acceleration centre

West Bengal Industrial Development Corporation, in association with Federation of Indian Chambers of Commerce & Industry and The University of Texas at Austin, IC² Institute, will establish a model acceleration and incubation center to support innovators, technology, start-ups, enterprises and businesses which have the potential to grow, scale and contribute to the economy of the state of West Bengal. The center would engage with incubatees and businesses for their technology evaluation and growth, with measurable impact.

IBAC aims to establish and grow sustainable market-driven businesses through technology and innovation. IBAC aims to guide enterprises through the complexities of developing and executing an aggressive international growth strategy—putting enterprises on the road to success.


Export Promotion centre

International trade opportunities for companies based out of West Bengal who are willing to scale and expand, IBAC will facilitate and prepare such business for overseas ventures and expansion.

Under the IBAC program FICCI would connect business from West Bengal export-ready new-to-market, new-to-export businesses with International Trade Specialists who can personally deliver the tools, strategies, and expertise needed to help grow and succeed abroad. The objective of the Export Promotion Track will be to support both existing enterprises looking to scale their exports and first-time enterprises who desire to export their products and services. They will be provided with capacity building support to understand the export procedures, incentives and promotion policies as well as to identify markets. The existing exporters will be facilitated to connect with buyers through B2B platforms.

Benefits

Entrepreneurs in the IBAC Incubator  will receive the following benefits.

  • Advanced capacity-building and Acceleration to the business
  • Hands-on training by experts from IC University of Austin, Texas, including access to the IBAC Mentor Network through FICCI
  • Acceleration of Enterprises into the domestic and global marketplace
  • Access to funding through angel investors, impact funds and venture capital
  • Extensive global commercial development networks of IC² Institute of the University of Texas at Austin, FICCI, WBIDI and others
  • Networking and collaboration through workshops and expos.
  • Long-term incubation space for eight months

In addition, IBAC enterprises receive a package of business services worth -

  • Access to FICCI B2B services
  • Access to Google Digital course ware on Digital Media
  • Co working space for 06 months after the incubation period
  • Free one Year FICCI Startup membership
  • Access to Networking opportunities
  • Export exposition
  • Buyer seller meets
  • Workshops on export opportunities

Export Marketing Plan Services

Assist existing as well as new-to-export manufacturers and service providers with overseas growth strategies through the development of customized Export Marketing Plans. The Export Marketing Plan includes

  • A thorough readiness assessment
  • industry and market analysis with target market recommendations
  • a review of overseas trade opportunities
  • and an action plan that may include trade mission participation.

Expert advice and information for FICCI exporters, Govt and other stakeholders

  • Understand the basics of international trade - regulations, compliance, taxations
  • Compile market research for better export strategy
  • Understand country/ regional requirements for products
  • Assist in preparing an Export Marketing Plan
  • Determine key target markets, develop country launch strategies and building synergies and connect with international buyers

Service Benefits

  • Strategize with - FIEO, Export Promotion Council of India; Export Credit Guarantee Corporation of India Limited. ECGC Ltd
  • Determine key target markets
  • Develop country launch strategies
  • Connect with international buyers

Our Team

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Nirankar Saxena

Program Director – Innovation Business Acceleration Centre, Deputy Secretary General, Federation of Indian Chambers of Commerce and Industry

Jim K. Vance

Managing Director – Innovation Business Acceleration Centre;
Program Manager Global Commercialization Group, IC2 Institute of The University of Texas at Austin
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+91 7042929391
abhay.singh@ficci.com

Abhay Kumar Singh

Program Manager, Innovation Business Acceleration Centre
Sr. Asst Director, Federation of Indian Chambers of Commerce and Industry
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91 - 33 4006 7114
91 - 9836044089
ranajoy.sen@ficci.com

Ranajoy Sen

Dy. Program Manager, Innovation Business Acceleration Centre
Consultant, Federation of Indian Chambers of Commerce and Industry

Our Partners

West Bengal Industrial Development Corporation Ltd. (WBIDC) formed in 1967 under the Companies Act, is the premier nodal agency of West Bengal’s Commerce and Industries Department. WBIDC is responsible for conceptualizing, development, growth and facilitation of industry, investment and infrastructure in West Bengal. Over the years the corporation is actively engaged in catalyzing investment through promotion and marketing of West Bengal as an investment destination.

WBIDC provides support to industries through the four ways – Facilitation, Financing, Disbursing Incentives and by Setting up Industrial Parks.

Established in 1927, Federation on Indian Chambers of Commerce and Industry (FICCI) is the largest and oldest apex business organization in India. Its history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies.

Federation of Indian Chambers of Commerce and Industry established a Centre for Innovation, Science and Technology Commercialization (FICCI-CTech) in 2007 to provide a platform and institutional framework to Indian innovators and entrepreneurs, helping them convert their ideas into businesses. The Centre runs several national level multi-stakeholder programs to support Indian start-ups and innovators.

Over the last decade, FICCI C-Tech received and evaluated more than 15,000 proposals and supported close to 700 innovative enterprises. These enterprises have been provided mentoring on product commercialization, readiness for market, business models, IP rights, competitive positioning and mechanisms for revenue.

The IC² Institute was founded in 1977 as a “think and do” tank to test the belief of its founder, George Kozmetsky, that technological innovation can catalyze regional economic development through the active and directional collaboration among the university, government, and private sectors.

Since then, the Institute has researched the theory and practice of entrepreneurial wealth creation and has been instrumental in Austin’s growth as an innovation and technology center and in the development of knowledge-based economies in over 40 countries.

Our Mentors

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Frequently Asked Questions

The incubator is part of the IBAC start-up hub at the WBIDC. We will be working with a selected group of Businesses/Entrepreneurs to help them commercialize their technologies redefine their business by utilizing best practices developed by the IC² Institute and our partners around the world.

We are looking for passionate innovators and entrepreneurs to join us at the IBAC incubator. An ideal candidate would have a product/business-based idea with clear and quantifiable benefits that meet a proven need in the marketplace.

Social impact Process/technologies are welcome, but must be based on a clear, sustainable business model.

We move swiftly and it would take about 10-15 working days and probably a call with you, to make sure that we are in agreement on expectations and milestones for the program. Once results are announced and you qualify to the program, you will be receiving an email welcoming you to the program.

We are here to support you and we will keep all information confidential. The information that you provide on your application will be shared exclusively amongst the IBAC team for the purpose of evaluation and determining candidates for eligibility and evaluation. We will never disclose any information to any third parties or people outside of IBAC, unless you ask us to do so.

Enterprises/Entrepreneurs do not have to pay for participation in the incubator and IBAC does not take an equity stake from the Enterprises.

Under the IBAC program there would be Each cohort runs for 10 weeks, first the applications are evaluated, and up to 15 Enterprises are chosen through a formal screening process and are trained and mentored at the center. After 10 weeks, four Enterprises will be selected for advanced incubation for up to 8 additional months.

There would be a new a new cohort recruited at this time and the entire cohort cycle recurs.

Recruitment of the entrepreneurs is mostly sector agnostic. Aspiring, passionate innovators and startups from any sector can apply for the program.

Exporters with experience of Export would be preferred, new business looking export as their revenue growth would also be facilitated through this centre.

Each cohort runs for 10 weeks and we execute three cohorts per year. Registration dates and timings will be mentioned on the website and our social media pages.

  • Advanced capacity-building and Acceleration
  • Hands-on training by both resident experts and from the United States, including access to the IBAC Mentor Network through FICCI
  • Acceleration of Enterprises into the domestic and global marketplace
  • Access to funding through angel investors, impact funds and venture capital
  • Access to the extensive global commercial development networks of FICCI, WBIDC, IC² Institute of the University of Texas at Austin and others
  • Access to the Networking and collaboration through workshops and expos.
  • Long-term incubation space for eight months

IBAC, WBIDC, Salt Lake, Kolkata

In our vast experience, we find that working together with other entrepreneurs and our expert staff is of great value, and networking is the key to any successful enterprise. There are specific times during the four-month cohort when we bring in experts from other parts of the world to work with you, and your presence is mandatory during these sessions. Our staff will work with you during the interim periods to design a program tailored to the realities of your business.

Of course! In fact, many Enterprises come to us for mentorship, guidance and access to our global know-how network, rather than for funding.

We will work with you to develop a solid value proposition and market access strategy, with specific milestones and objectives, all designed to determine market viability of your technology. We are firm believers in “SMART” objectives: Specific, Measurable, Attainable, Realistic and Time-bound. We will help you through this planning process, designed to help you in determining minimal viable product as well levels of collaboration with other entrepreneurs and a vast network of mentors.

When appropriate, and when you have proven your readiness, IBAC will help facilitate the contact between you and the investor community, IBAC will organise investor meet for each cohorts.

Absolutely yes, in fact we encourage you to directly interact with investors. If you are accepted to our program, we would like to be informed of those contacts; so that we can help you prepare to “pitch.”

Our services are free of charge, as is access to the experts that come to IBAC to work with you. The only thing that you have to arrange is your travel and accommodations while in Delhi.

During the program, you have access to the co-working space, as well at access to office infrastructure services. You have the opportunity to grow under the guidance and mentorship of industry leaders while our team of experts helps you with your business planning and market access strategies.

Unlike co-working, you don’t just get office space: you have at your disposal the expertise of our expert team, the guidance and mentorship of industry leaders, and the impact of our partner organizations, FICCI, TiE, IAN, ISB and The University of Texas at Austin.

If you are a new business or existing and are looking to explore Exports for growth IBAC centre would assist you in designing your export strategies and support your overseas ventures. All the applications will be reviewed and evaluated and would be contacted for export promotion supports.

IBAC centre in partnership with the Government would also organise - trade facilitation workshops, Buyer seller meets and etc. to boost the export from the State.

Export promotion activities would be free for those who have applied to the program and have been shortlisted for assistance.

You can email your questions to us at info@ibacwb.in