MICA incubators assist startups and smaller companies through their support and promotion of entrepreneurs and the startup ecosystem. The incubator is headed by U.T. Rao, the chairperson.
The MICA – EDC has set up the first of its kind MICA incubator for strategic marketing. The incubator is also used to commercialise and nurture ideas within the communication sector. Overall, their main objective has always been to develop, nurture, promote and successfully market ventures. They have to make sure the end result is based on innovative products, interesting models, tools, techniques and technologies and services in marketing and communication.
These ventures should be capable of conceptualizing, developing and manufacturing innovative processes and reaching out to larger audiences. They further assist the incubating startups through training, mentoring and by providing the required infrastructure.
At present, the incubator holds 12 different companies. Although they do not have a specific focus area, they have a range of domains they work in. Some of these are:
1. Communication service technologies : They work with their clients in marketing and communication services like advertising. They also assist with PR, research and event management. Mobile services, photography, design consulting, film production and more.
2. Communication product technologies : They also work through the internet, SMS, MMS, gaming, film and a lot more
3. Communication equipment : Computers, cameras, printers, mobile phones and application-oriented software
4. Application tools for communication businesses : Tools to measure audiences, tools for research and data analytics, tools to track consumers and tools to evaluate the impact of communication
MICA supports all their incubates, from the initial stages of conceptualising the business idea, all the way to development and commercialisation of the same idea. Once the idea is taken up by the incubation centre, they provide assistance with, working models, research experimentation, lab testing, accreditations, along with market research, business plan, promotion, and networking. They also have respected and well-known mentors who are more than happy to assist throughout the process.
They further provide facilities available at the incubation center, like Macs (IBM machines as well), conference rooms, office amenities, library resources, radio broadcasting facilities along with a lot more.
Initially, the incubation center worked with seed funding but now they connect the startups with Government schemes and other options allowing them to get the investment they are looking for. They are directly linked to the Government of Gujarat, and are the official district incubator. They also connect startups with angel investors, networks and other VEC firms.
As of this day, 30 companies have exited successfully through the incubator. All Events, My Wed Story and Dialogue in the Dark are some of the reputed names.