Chhatrapati Sambhajinagar: The Marathwada Accelerator for Growth and Incubation Council (MAGIC) has announced the sixth edition of its flagship annual Innovation Challenge, aimed at encouraging new entrepreneurs to transform their innovative ideas into commercially viable ventures. This year’s competition, "Defence Innovation Challenge for Excellence 2024," will incentivize innovative students, innovators, and startups capable of providing solutions to problems in the Indian defence sector while contributing to job creation and intellectual property for the nation, said Prasad Kokil, Director of MAGIC.
The inauguration ceremony will take place on October 5 in the presence of secretary of the Defense Research and Development Department (DDR&D) and chairman of DRDO Dr Samir Kamat. Vice-president of CII Western Region and managing director of Bagla Group Rishi Bagla, partner 3D Engineering LLP Ajay Deshkar, and CMIA president Arpit Save will also remain present.
The competition will feature separate evaluations and awards for startups at the idea, prototype, and revenue stages. The total prize value is approximately ₹6.5 lakh, alongside incubation support provided by MAGIC. 3D Engineering, the Maharashtra State Innovation Society, iDEX, Startup India, and the principal scientific adviser’s office of the Government of India are backing the initiative.
This all-India competition has no restrictions on educational background and is open to newcomers from all age groups and sectors. For more information, interested parties can contact MAGIC at contact@magicincubation.com.