MAGIC to support Startups with seed fund

Aurangabad, Feb 27:

CMIA's Marathwada Accelerator for Growth and Incubation Council (MAGIC), is now expanding its scope of operation with extending seed fund support to eligible startups.

Giving more information, Magic founder director Ashish Garde said, quick availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise and startup. Funding from angel investors and venture capital firms becomes available to startups only after the proof of concept has been established. Similarly, banks provide loans only to asset-backed applicants. It is essential to provide seed funding to startups with innovative ideas to quickly conduct proof of concept trials. Magic is inviting applications from DPIIT registered innovative startups who are offering the unique solution to any persistent problem and fulfilling unmet needs of the society, and Startups who have potential to scale-up their operation and create new jobs and wealth, through a self sustainable business proposition.

Apply for seed fund support

All eligible startups are requested to apply for MAGIC seed fund support initiative. Eligible Startups will be selected on the basis of their merit through the pitching session to be arranged by the MAGIC seed fund committee. To apply one must visit bit.ly/MAGICSeedFund. Last date for submitting applications is March 10.