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How to Apply for Seed Fund Incubator at Marathwada Accelerator for Growth and Incubation Council

MAGIC Aurangabad

Introduction

In India’s rapidly evolving entrepreneurial ecosystem, regional innovation hubs are becoming powerful catalysts for inclusive growth. One such shining example is the Marathwada Accelerator for Growth and Incubation Council (MAGIC) — a leading startup incubator in Maharashtra that blends innovation, mentorship, and financial support to fuel the next generation of changemakers.

Backed by AURIC City (Aurangabad Industrial City) and supported under the Startup India Seed Fund Scheme (SISFS), MAGIC helps early-stage startups turn innovative ideas into viable businesses through structured incubation and seed funding.

This article will guide you through everything you need to know about the Seed Fund Incubator at MAGIC Aurangabad — from eligibility and benefits to the exact application process that could help you secure your first round of institutional funding.

1. About MAGIC – Marathwada Accelerator for Growth and Incubation Council

Established in 2018, MAGIC Aurangabad was conceptualized to nurture entrepreneurial spirit in the Marathwada region, which is home to immense talent and industrial diversity.

Operating as a Section 8 non-profit company, MAGIC works as a business incubator and accelerator, empowering innovators, entrepreneurs, and startups through funding, mentorship, and access to industry networks.

MAGIC’s mission aligns closely with the Government of India’s Startup India initiative and Maharashtra State Innovation Society, aiming to bridge the gap between local talent and global opportunities.

Vision

To make Marathwada a recognized innovation hub that drives sustainable economic growth through entrepreneurship.

Mission

  • Foster innovation in Tier-2 and Tier-3 cities.

  • Support early-stage startups through funding and incubation.

  • Enable technology-driven solutions for social and industrial challenges.

2. Focus Areas of MAGIC

MAGIC supports startups across multiple high-impact sectors, including:

  • Manufacturing & Industry 4.0

  • Agriculture and AgriTech

  • Renewable Energy & CleanTech

  • Healthcare & MedTech

  • Mobility & Logistics

  • Education Technology (EdTech)

  • Smart City & Infrastructure Solutions

  • Women-led Entrepreneurship

This diverse portfolio allows MAGIC to help innovators build scalable, sustainable, and regionally relevant businesses.

3. The Role of the Seed Fund Incubator at MAGIC

The Seed Fund Incubator at MAGIC operates under the Startup India Seed Fund Scheme (SISFS) — a flagship initiative by the Department for Promotion of Industry and Internal Trade (DPIIT).

This program provides financial assistance to startups for the development of prototypes, product trials, market entry, and commercialization.

MAGIC serves as an approved incubator under SISFS, enabling startups to access up to ₹50 lakhs in funding to validate and scale their innovative business ideas.

4. Types of Support at MAGIC

MAGIC’s incubation model combines financial, technical, and strategic assistance to create a holistic startup growth journey.

A. Pre-Incubation Support

  • Idea validation and feasibility analysis

  • Business model canvas development

  • Market research and competitor mapping

  • Mentoring by domain experts

B. Incubation Program

  • Access to co-working and R&D facilities

  • Structured learning through workshops and masterclasses

  • Legal, IP, and compliance assistance

  • Prototype testing and pilot opportunities

C. Seed Funding Support

  • Up to ₹20 lakhs as a grant for prototype development.

  • Up to ₹50 lakhs as investment for commercialization and scaling.

  • Mentorship from investors, industry veterans, and startup coaches.

5. Eligibility Criteria for Startups

Startups interested in applying for the Seed Fund at MAGIC must fulfill the following conditions:

✅ Startup India Recognition — Must be recognized by DPIIT.
✅ Entity Type — Private Limited Company, LLP, or Registered Partnership.
✅ Startup Age — Not older than 10 years from the date of incorporation.
✅ Turnover Limit — Less than ₹100 crore in any previous financial year.
✅ Stage — Prototype, MVP, or early traction stage.
✅ Innovation — Should have a unique, technology-driven solution.
✅ No Prior SISFS Funding — The startup should not have already received funding under SISFS from another incubator.

6. Step-by-Step Guide: How to Apply for the Seed Fund at MAGIC

Here’s how founders can apply for the Seed Fund Incubator at MAGIC Aurangabad:

Step 1: Registration

Visit the official Startup India Seed Fund Portal at seedfund.startupindia.gov.in. Ensure your startup is DPIIT-recognized before applying.

Step 2: Choose MAGIC Incubator

Under the list of approved incubators, select Marathwada Accelerator for Growth and Incubation Council (MAGIC) as your preferred incubator.

Step 3: Submit Application

Upload the following documents:

  • Detailed business plan and financial projections

  • Prototype or MVP information

  • Founder & team details

  • Market opportunity and problem statement

Step 4: Screening and Evaluation

MAGIC’s Seed Fund Evaluation Committee (SFEC) reviews applications based on innovation potential, scalability, and market impact.

Step 5: Pitching Round

Shortlisted startups are invited for a pitch presentation to the evaluation committee.

Step 6: Selection and Onboarding

Selected startups sign an incubation agreement and begin their incubation journey at MAGIC.

Step 7: Fund Disbursement

Funds are disbursed in tranches linked to milestone achievements such as prototype completion, pilot deployment, and commercialization readiness.

7. Key Benefits of Incubation at MAGIC

Startups incubated at MAGIC gain access to a comprehensive ecosystem designed to ensure long-term success.

✅ Seed Funding: Up to ₹50 lakhs for prototype and scaling.
✅ Mentorship Network: Guidance from 50+ mentors and industry experts.
✅ Infrastructure Access: State-of-the-art incubation center in Aurangabad.
✅ Investor Connect: Access to angels, VCs, and corporate funds.
✅ Market Linkages: B2B and B2G collaborations for startups.
✅ Government & Policy Support: Assistance with licensing, patents, and regulatory frameworks.
✅ Exposure Opportunities: Participation in national startup events and demo days.

8. MAGIC’s Impact and Success Stories

Since its inception, MAGIC has supported 150+ startups, facilitated ₹15+ crore in funding, and created over 800 jobs in the Marathwada region.

🌿 AgroSense – Developed IoT-enabled precision farming tools for local farmers.
⚙️ M-Tech Robotics – Built AI-based robotics for small-scale manufacturing units.
💡 EnerLite – Innovated solar-powered street lighting solutions now used by Aurangabad Smart City.
👩‍💻 HerPower – A women-led EdTech startup empowering girls in rural Maharashtra through online STEM programs.

These success stories reflect MAGIC’s vision of building global startups from local soil.

9. Why MAGIC Stands Out

What makes MAGIC truly unique among Indian incubators is its deep local connect and global exposure.

  • Operates at the intersection of industry and innovation.

  • Supported by AURIC City and Maharashtra State Innovation Society.

  • Focused on Tier-2 empowerment and inclusive entrepreneurship.

  • Recognized by Startup India Seed Fund Scheme for credibility and impact.

  • Offers a balanced mix of funding, mentorship, and industrial partnerships.

For startups that dream big and aim to build impactful ventures, MAGIC offers the perfect launchpad.

10. Contact Information

📍 Address:
Marathwada Accelerator for Growth and Incubation Council (MAGIC)
Plot No. A-47, MIDC Area, Chikalthana, Aurangabad – 431006, Maharashtra

📧 Email: info@magicaurangabad.org
🌐 Website: www.magicaurangabad.org
📞 Phone: +91-240-2470160

Conclusion

The Seed Fund Incubator at MAGIC Aurangabad embodies India’s mission to democratize entrepreneurship beyond metropolitan cities.

By offering funding, mentorship, and market access in a growing innovation ecosystem, MAGIC enables founders to turn bold ideas into businesses that matter.

If you are a startup ready to make a mark in manufacturing, sustainability, or social innovation, applying to MAGIC’s Seed Fund Incubator can be your first step toward impactful success.