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Marathwada Accelerator for Growth and Incubation Council (MAGIC) Special Purpose Vehicle (SPV) promoted by Chamber of Marathwada Industries and Agriculture (CMIA) has taken new initiative to promote entrepreneurship and nurture second generation of entrepreneurs in Marathwada Region; in this direction CMIA has started Incubation Centre called Marathwada Accelerator for Growth and Incubation Council (MAGIC). CMIA is the first chamber to setup the incubation centre in the country.

Marathwada Accelerator for Growth and Incubation Council (MAGIC) signed Memorandum of Understanding (MOU) with Maharashtra Institute of Technology (MIT) Aurangabad on 30th June 2018 on the occasion of CMIA Annual Day 2018. In accordance with a mutual desire to promote and develop activities between two incubation centres and build startup eco-system in Marathwada Region. Marathwada Accelerator for Growth and Incubation Council (MAGIC) and Maharashtra Institute of Technology (MIT), agreed to the following statement of intent on innovative startup ideas to setup enterprises by providing structured mentoring support.

1. Two institutions agree to the following general areas of interest and co-operation:

a. Sharing of innovative concepts and programs for startups and entrepreneurship development, as well as industry-academia interactions;

b. Sharing of intellectual expertise for enabling startups/students to explore starting their own venture, through a vibrant synergy between

Industry and Academia Collaboration.

c. Sharing of intellectual expertise for bringing relevant technology to nurture the regional industrial growth.

d. Initiation of joint venture to provide continuous mentoring support for the startups and students in the relevant areas of entrepreneurship.

e. Joint organisation of short term training programme or workshops.

f. Joint promotion of each other’s expertise and capabilities.

This MoU is signed in the presence of Dr Vijay Chauthaiwale, Ph.D, In-Charge, Foreign Affairs Dept., Member, National Executive, Bharatiya Janata Party. Dr. Harish Shetty, MBBS, MD – Practicing Psychiatrist, Shri. Ram Bhogale, President Elect CMIA, Shri. Prasad Kokil, Past President CMIA and Director MAGIC, Mr. Ashish Garde, Past President CMIA and Director, MAGIC. Mr. Kamleish Dhoot, Vice President Elect CMIA, Mr. Nitin Gupta, Hon. Secretary Elect CMIA, Mr. Vinod Nandapurkar, Past Hon. Secretary CMIA, Mr. Munish Shrama, Past President CMIA and Dr. Santosh Bhosle, Principal, Maharashtra Institute of Technology, Aurangabad.

Mr. Munish Sharma, Director General at MIT said it’s a wonderful initiative taken by MAGIC and MIT for the upliftment of entrepreneurial skills in the young students in the Marathwada Region. This collaboration will give a platform for many students to experiment on their innovative ideas and get validated by the mentors, experts and build a viable business models. This MOU also help faculties and students to work on joint projects and innovation to solve industries as well as societal problems through various startups interventions.