MAGIC receives Rs 50 lakhs for supporting startups

Grants sanctioned by HDFC Bank’s Parivartan CSR grants

Aurangabad, March 29:

The Marathwada Accelerator for Growth and Incubation Council (MAGIC ) has received Rs 50 lakh grants for supporting startups through HDFC Bank’s Smartup Parivartan CSR Grants.

HDFC recently announced the winners of its 5th annual Parivartan CSR grants which awarded grants to 85 innovative start-ups across the country focused on addressing problems facing the environment, healthcare sectors and gender diversity. Three startups incubated at MAGIC are included in the list of 85 grant awardees. Eleven startups affiliated with MAGIC had applied for this initiative, 5 of them were selected in the second phase, out of which three were selected through a rigorous screening process and given grants, startups includes Prayogik Technologies Pvt Ltd, Mrudnati Services and Amlaan Rivercorp Pvt Ltd.

About the Startups selected for the grants

Amlaan Rivercorp Pvt Ltd:

Amlaan aims to bridge the incomparable gap between domestic waste generation and processing capacity. Amlaan’s first product, CataClean 1.0, a water trash skimmer that collects debris, organic waste, floating debris from the water's surface to help combat physical and apparent pollution in water reservoirs.

Mrudnati Services:

Mrudnati has designed and manufactured automatic composter, home composter which helps to reduce food waste by shredding it and converting it to compost fertilizer. Home composter plays a simple role in making compost of higher quality faster and cheaper. It directly impacts the surroundings or environment.

Prayogik Technologies Pvt Ltd:

Prayogik is commercializing a transformative energy technology in the oil and gas industry. They have developed thermoelectric module static generator DC power for stationary and portable power applications, from tens of watts to tens of kilowatts.