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MAGIC selected for DPIIT's Startup India Manufacturing Incubator Initiative
Industry News- Nov 08,24
This initiative aims to fuel innovation within India's manufacturing sector, creating new opportunities for manufacturing-focused startups.
The Department for Promotion of Industry and Internal Trade (DPIIT) has chosen the Marathwada Accelerator for Growth and Incubation Council (MAGIC) as part of its Startup India Manufacturing Incubator Initiative, launched in April 2024. This initiative aims to fuel innovation within India's manufacturing sector, creating new opportunities for manufacturing-focused startups.
MAGIC’s selection places it among a select group of institutions across India tasked with advancing the ‘Build Bharat with Startup India’ vision, which highlights the role of manufacturing in building a self-reliant and export-driven economy. A thriving manufacturing sector is seen as critical for enhancing employment, innovation, and economic stability in India.
Manufacturing startups face significant hurdles, including high setup costs and infrastructure challenges. MAGIC’s participation in DPIIT’s initiative will enable these startups to access plug-and-play facilities, prototyping labs, pilot production units, and technology management support, according to Kedar Deshpande, Executive Director, MAGIC.
Maithili Tambolkar, Director, MAGIC, noted that DPIIT is committed to supporting the growth of manufacturing startups by fostering collaborations and providing essential infrastructure. "This partnership underscores MAGIC's dedication to establishing a robust ecosystem for manufacturing startups," Tambolkar added.
(Free Press Journal)
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