ABOUT THE PROGRAM

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INNOVATION and BUSINESS ACCELERATION CENTER (IBAC)

West Bengal Industrial Development Corporation in association with Federation of Indian Chambers of Commerce & Industry (FICCI) has established 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 centre engages with incubatees and businesses for their technological evaluation and growth, with measurable impact.

IBAC aims to establish and grow sustainable market-driven businesses through technology and innovation. The centre aims to support and promote exports, working closely with exporters in West Bengal to explore opportunities for expansion in existing markets or new geographies for product launches.

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Export Promotion centre

IBAC would provide 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 export-ready, new-to-market, new-to-export businesses based out of West Bengal 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.

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Benefits

Entrepreneurs in the IBAC Incubator  will receive the following benefits.

  • Advanced capacity-building workshops to accelerate the business
  • Hands-on training by international experts from entrepreneurial ecosystem 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 FICCI, WBIDC and others
  • Networking and collaboration through workshops and expos.
  • Long-term incubation space for six months (subject to availability)

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 during 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

  • Determine key target markets
  • Develop country launch strategies
  • Connect with international buyers

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Frequently Asked Questions

Bengal IBAC is a business accelerator for the early stage entrepreneurs and business. Under the program, we will be working with a selected group of Businesses/Entrepreneurs to help them commercialize their technologies and redefine their business by utilizing best practices developed by 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.

Visit our website - Apply Now

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 and the international partners working 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. And we don’t expect you to share the core of the IP with us.

It’s free, for the 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 each cohort runs for four months. The applications are evaluated, and up to 40 enterprises are chosen through a formal screening process and are trained and mentored at the center.

In one calendar year, we recruit 3 such cohorts of 40 companies each

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

Existing and aspiring exporters would be preferred.

Each cohort runs for four months 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 workshops to accelerate the business
  • Hands-on training by international experts from entrepreneurial ecosystem 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 FICCI, WBIDC and others
  • Networking and collaboration through workshops and expos.
  • Long-term incubation space for six months (subject to availability)

Innovation and Business Acceleration Center (IBAC), 3rd floor, DJ 10, Saltlake City Kolkata - 700091

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 Kolkata.

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 and others from the business ecosystem.

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. We would provide you with details on the business leads in different geographies which you would be requested to coordinate from your end. Although the buyer information that we would be providing is from trusted sources, however, we do not guarantee on the existing credit worthiness of the buyers. For that purpose, we would request you to evaluate them either from your end or external agencies.

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. This would be over and above the business leads shared with your company.

If you are selected, all services in the Bengal IBAC program are free of cost.

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