In a significant boost to entrepreneurial aspirations, the Marathwada Accelerator for Growth and Incubation Council (MAGIC) has joined forces with Tata Technologies Limited, leveraging CSR funds to launch the Ready Engineer – Magic Startup (REMS) incubation program. This initiative is specifically designed to nurture and promote student startups from tier 2 and tier 3 cities in Maharashtra and Karnataka.
The REMS program attracted enthusiastic participation from over 100 budding industrialists, showcasing the entrepreneurial spirit thriving in these regions. After a rigorous selection process, 17 student startups emerged as the chosen ones, poised to receive comprehensive support for their ventures.
Upon the successful completion of the REMS program, each of the selected startups will be awarded Rs 50,000 in seed funding, providing them with the financial impetus to transform their innovative concepts into professional-grade products and services. Additionally, the startups will benefit from incubation support, personal guidance, and mentoring provided by MAGIC, fostering an environment conducive to entrepreneurial success.
MAGIC, as a key collaborator, will extend co-working space in its office, enabling startups to work in a collaborative and supportive environment. Furthermore, the selected entrepreneurs will have access to invaluable networking opportunities within the ecosystem for effective product promotion. They will also be granted a dedicated booth in the Tata Technologic MAGIC Innovation Hub exhibition and the chance to participate in various online seminars.
Siddharth Yawalkar, the head of the REMS project, expressed satisfaction with the overwhelming response from budding industrialists in the earlier editions. He underscored the integral role the project plays in Tata Technologies’ CSR activities, emphasizing the commitment to fostering entrepreneurship among aspiring students.
Ritesh Mishra, the director of MAGIC, highlighted the broader goal of the project to inspire students pursuing engineering studies to explore the realms of entrepreneurship. The initiative is strategically crafted to empower students in translating their innovative concepts and ideas into tangible and impactful products and services.
As the REMS program unfolds, it stands as a beacon of support for the selected student startups, propelling them towards a future marked by innovation, sustainability, and entrepreneurial success.
