New Entry Template button is disabled

I have configured the ICN to use the entry templates using the following procedure

1. Open the administration tool in the web client. Click Repositories and open the repository on which you want to enable entry template management.
2. Connect to the repository as a library server administrator (IBM® Content Manager) or a Content Platform Engine administrator (IBM FileNet® P8).
3. In the Optional Features section of the Configuration Parameters tab, select Enable for the entry template management feature.

I have been able to see the entry template feature on the ICN, however I am unable to create any new entry template as the "New Entry Template" button is disabled.

Check your Access. Are you member of the group for Entry Template Management? I suggest to clear browser cache and cookies, restart browser. If that doesn't help try to restart back-end and ICN.