You can add IP that was previously created in the CORE Generator tool (<ip_name>.xco files) or Vivado IP (<ip_name>.xci or <ip_name>.xcix files) by using the Add Sources option. You can either reference the IP and any generated output products from its current location, or copy the IP and any generated output products into your project.
Existing IP can be IP customized for use in another design, or customized for use in many designs using a Managed IP project. A Managed IP project can create the XCI file for the IP customization, as well as generate any needed output products. See Using Manage IP Projects for details on creating IP using the Managed IP flow.
The added IP and any output products show in the IP Sources tab of the Sources window, as well as with other source files in the Hierarchy, Libraries, and Compile Order views.
You can select the IP in the IP Sources and view the properties for it in the Source File Property window.
NGC2EDIFcommand to migrate the NGC file to EDIF format. See this link in the ISE to Vivado Design Suite Migration Guide (UG911) for more information about migrating files for Vivado.
When adding or importing an existing IP into a project, the existing output products for the IP are referenced or copied into the project; however, the design runs are not.
To create the design runs for the IP you have two options: regenerate the output products for the IP, or enter the create_ip_run command into the Tcl Console:
create_ip_run -force [get_ips <ip_name>]
The run reports that it has not been started yet. The added IP also needs to be instantiated into the top-level design as described in Instantiating an IP.