Startups catalysts for a self-reliant India : Dr Bhagwat Karad

Inauguration of Magic startup weekend expo at MAC, participation of 35 startups

Chhatrapati Sambhajinagar: Startups in India have come a long way in the last seven years and the role and contribution of startups is very important for self-reliant India, said union minister of State for finance Dr Bhagwat Karad.

He was speaking at the inauguration of Magic ‘Startup Weekend’ organized by Marathwada Accelerator for Growth and Incubation Council (MAGIC) at Marathwada Auto Cluster (MAC) on Saturday. Speaking further, he said that Chhatrapati Sambhajinagar has an environment conducive to innovation and entrepreneurship development and special efforts are being made to bring big industries here. The Godavari drone cluster will soon be established at Auric and the state government has sent the proposal to the Central government.

On the occasion, chairman and managing director, Small Industries Development Bank of India (SIDBI) Sivasubramanian Ramann, discussed the measures being taken to transform India into a manufacturing hub. Recognizing Chhatrapati Sambhajinagar as a manufacturing industrial hub and a thriving startup ecosystem, Ramann appreciated the work of MAGIC and expressed SIDBI's readiness to cooperate through the organization.

Awards to winners

Awards were presented to winners of the ‘Innovate for India Challenge’, with Krishigati securing first place in the pre-revenue stage, followed by Thermistance Technologies in second place and Drone Automation in third place. In the revenue stage category, Vacus Tech claimed the first position, followed by Aumsat Technology in second and Photon Technology in third place.

MoU with Srujan trust

A memorandum of understanding (MoU) was signed between Magic and Srujan Trust to promote the startup ecosystem. Under this MoU, startups emerging from Srujan Trust's Deepex initiative will be incubated in Magic, facilitating collaboration between the two organizations.

Participation of 35 startups

The Magic startup weekend initiative, saw participation of 35 prototype-ready and revenue-stage startups. Leader of the Opposition in the Legislative Council Ambadas Danve, visited the exhibition and engaged with the participating startups.

Informative sessions organised

Several informative sessions were conducted during the event, covering topics such as new technology in battery manufacturing for electric vehicles and drones, support for startups through the Manthan portal and opportunities in virtual reality (VR) and 3D technologies for product development and manufacturing startups.