MAGIC Launches MeitY GENESIS EiR Program To Support First-Generation Entrepreneurs With Grants And Mentorship | Sourced
Chhatrapati Sambhajinagar Marathwada Accelerator for Growth and Incubation Council (MAGIC) has announced the opening of applications for the MeitY GENESIS Entrepreneur-in-Residence (EiR) program, an initiative supported by the Ministry of Electronics and Information Technology (MeitY). The program aims to provide a major platform for first-generation entrepreneurs and aspiring startups to turn their innovative ideas into successful and impactful ventures.
The primary goal of the program is to promote the creation of new businesses in the fields of electronics, emerging technologies, and digital solutions, as shared by MAGIC. The announcement was made during the ‘Udyog Prerna’ event at the Devgiri Government ITI, in celebration of National Youth Day. MAGIC is also celebrating Innovation Week from 10th to 16th January, marking National Startup Day.
Selected startups under the GENESIS EiR program will receive grants of up to ₹10 Lakhs. Along with the financial support, chosen startups will also benefit from expert mentorship from industry leaders, helping them grow their businesses from the initial stages to success.
While discussing the initiative, Mr. Suresh Todkar, Director of MAGIC, mentioned, “This program focuses on fields such as Electronics and Information Technology (IT), along with emerging technologies like Artificial Intelligence (AI), Internet of Things (IoT), and Blockchain. It also offers significant opportunities for startups providing digital solutions in sectors like healthcare, education, agriculture, and other industries.”
Eligibility criteria for applicants include being an Indian citizen, aged 18 years or older, and a first-generation entrepreneur with full-time commitment. Startups should be in the ideation or early-stage phase (less than one year old) and must not have received prior funding exceeding ₹10 Lakhs. Priority will be given to startups based in smaller and medium-sized (Tier 2 and Tier 3) cities.
The last date for applying for the GENESIS EiR program is 25th January 2025, and interested applicants are encouraged to submit their applications soon. Applications can be submitted online through the official website http://bit.ly/GENESISEiR. For further inquiries or clarifications, applicants can reach out to MAGIC.
MAGIC director Suresh Todkar said, “The MeitY GENESIS EiR program offers an exceptional opportunity for first-generation entrepreneurs. With grants up to ₹10 Lakhs, expert mentorship, and a supportive ecosystem, we believe this program can help startups across India achieve significant success. We especially encourage startups from Tier 2 and Tier 3 cities to apply for this transformative opportunity.”
