ICAI Offers Incubation Centres to Chartered Accountants Start-Ups
Career Chartered Accountant Commerce Guidance News

ICAI Offers Incubation Centres to Chartered Accountants Start-Ups

ICAI has invited applications from Chartered Accountants start-ups, to provide them with space and facilities at incubation centres proposed at ICAI Bhawan, BKC, Mumbai.

In a bid to encourage Chartered Accountants to be entrepreneurs, the Committee for Members in Industry & Business (CMI&B), ICAI seek applications from start-ups founded by the chartered accountants (CA) desiring space and facilities at incubation centres.


In an announcement, ICAI said, “Keeping in view the limited seats available applicants are advised to furnish all relevant documents/information in support of their application at https://cpabiplacements.icai.org under the expression of interest head, online. Applications are open round the year for interested and eligible aspirants Chartered Accountants Start-ups. Consideration of an application is subject to availability of space and suitability of application with ICAI norms.”


Get Latest Information About Commerce Courses

Eligibility of the Applicant:

  • At least one of the Director/ Co-founders of the startups must be Chartered Accountant.
  • ‘Start-up’ for this purpose, means the startup defined under Gazette notification no. GSR 364(E) dated May 23, 2017, and revised thereafter from time to time issued by Ministry of Commerce & Industry, Department of Industrial Policy & Promotion.

READ Too: 12 Best Courses For Commerce Students After Class 12th

Selection Process

  1. Receiving applications online for the establishment of following types of Incubatees:

Local Entrepreneurs

  • Solving the Local Problems.
  • The team member is Local and well versed with the problem.
  • MVP or Prototype.
  • Easily Scalable.
  • Less Funding required to go to market.

Startup Companies

Amazon Freedom sales, offers on Baby products, Great Indian Sale on Amazon, Diwali offers on Amazon, Diwali offers, Amazon offers dusshera, Amazon Great Indian Sale, Discounts on Amazon, Cheap rates on Amazon, Heavy discounts on Amazon, Great Indian Festival Sale, Amazon sale, Amazon Sale on Navratri, Amazon Great Indian Sale, heavy Discount on Amazon Products, Amazon Prime Sales, Amazon discounts, sales on baby products, garments, toys, discounts on amazon, shopping amazon, heavy discounts and offers on amazon, Amazon Sale, offers on AMazon, why to shop on Amazon, saste products on Amazon,amazon par shopping kaise kare, navratri sales on Amazon, amazon offers on baby products, Great Indian Sale on Amazon, Diwali offers on Amazon, Diwali offers, Amazon offers in Navratra, Amazon Great Indian Sale, Discounts on Amazon, Cheap rates on Amazon, Heavy discounts on Amazon, Great Indian Festival Sale, Amazon sale, Amazon Sale on Navratri, Amazon Great Indian Sale, heavy Discount on Amazon electronics Products, Amazon Prime Sales, Amazon discounts, sales on electronics, discounts on amazon, shopping amazon, heavy discounts and offers on amazon, offers on AMazon, why to shop on Amazon, saste products on Amazon,amazon par shopping kaise kare, navratri sales on Amazon

  • Product and prototype with tractions.
  • A valid business model understood from the get-go.
  • A business that is in a rapidly growing market
  • An experienced Team with Technical, Business and Sales expertise.

Spin-off from University or R&D Centers

  • Scientific/technical merit
  • The scientific basis for the expected commercial application
  • Novelty, technical complexity, technical risk and feasibility
  • Appropriateness of work plan, milestones, deliverables and Decision Points.
  • Social Venture or Grass root ventures
  • Transformative Social Change
  • A new product or service;
  • A new production or distribution method;
  • A new labour supply;
  • The reformulation of an existing product for an underserved population
  1. Shortlisting of an application by Start-up screening Committee (SSC) formed at the regional level. The first meeting of Start-up screening Committee (SSC) is planned in 3rd -4th week of June 2018.
  1. The evaluation is based on disruption in the market and other important criterion covered in Selection Matrix is as under:
Innovator(s) Innovators quality, background & qualification as CA
Good communication & Presentation skills
Innovation Solving the practical & real problem
Disruption
Market Innovation in the growth sector
Strong network effect & first-mover advantage
Intellectual Property & Entry Barriers
IP Strong R&D capability
  1. Shortlisted applicants would be required to make Presentation before aforesaid Committee.
  2. The final selection of incubatees will be made by Start-up screening Committee (SSC).
  3. A formal communication will be sent to the applicant along with necessary documents including terms and conditions.

READ ALSO: ICAI 1st Overseas Campus Placement For Chartered Accountants

ICAI Infrastructure and Other Facilities

The following infrastructural and other facilities shall be provided at the proposed incubation centres:

  • Space and facilities would be provided for six months which may extend further only for 6 months, not beyond that.
  • Sharing phone-lines/ wi-fi-/ internet/ printer will be made available.
  • The space allotted would be solely used for start-up business purpose only.
  • ICAI would facilitate linkage with various Government schemes meant for start-ups.
  • The existing sharing facilities including Seminar halls, board rooms, common meeting rooms would be made available to start-ups on demand subject to availability and it is the sole discretion ICAI to accept or reject the request.
  • Efforts would be made to provide mentoring and knowledge up-gradation.

Disclaimer: CMI&B of ICAI reserves the rights to change its policy regarding the programme, dates, venue etc., at any point of time as per its discretion.

For further details please contact at:
Committee for Members in Industry & Business
The Institute of Chartered Accountants of India,
‘ICAI BHAWAN’, Indraprastha Marg,
New Delhi – 110002
Tel: 011-30110450/30110491
Chairman, CMI&B, ICAI

READ MORE: Greater Opportunities Opened For The Indian Chartered Accountants In South Africa

Here you got the brief details about “ICAI Offers Incubation Centres to Chartered Accountants Start-Ups”. Have any doubts, you can discuss or post your comments or queries in the below comment box.

Stay in touch with us for more on higher education, Professional course, entrance exams update, Career Guidance among other information. Connect with us on Linkedin, Facebook, and Twitter for more updates on CA, CS, CMA, Other professional courses, Post qualification courses and their preparation.

After Graduation Career Counseling Discussion

Subscribe with Aftergraduation

Leave a Reply