MAGIC Seed Fund Support Scheme — Frequently Asked Questions
Answers to the questions founders most often ask about MAGIC Seed Fund Support Scheme — who qualifies, the funding amount, required documents and how the application works.
Frequently asked questions
What is the MAGIC Seed Fund Support Scheme?
It is an early-stage financial assistance program by MAGIC, supported by the Maharashtra State Innovation Society, that provides seed funding to help startups move from concept validation to commercialization.
How much funding is offered?
The funding amount varies and has not been specified.
What is the application deadline?
The deadline has not been specified.
Who can apply for this seed fund?
Innovators and early-stage startups in the Maharashtra ecosystem that need support for proof of concept, prototype development, product trials, market entry, or commercialization are eligible.
Is there any equity taken by the program?
The program is a grant, so it does not take equity.
What can the funding be used for?
Funding supports proof of concept validation, prototype development, product trials, market entry activities, and commercialization.
How do I apply for the scheme?
Applications can be submitted via the URL provided: http://bit.ly/MAGIC_SFS
Do I need DPIIT or MSME registration?
The eligibility criteria do not specify a requirement for DPIIT or MSME registration.
Who offers MAGIC Seed Fund Support Scheme?
MAGIC Seed Fund Support Scheme is offered by Marathwada Accelerator for Growth & Incubation Council (MAGIC), a startup incubator. It is provided as non-dilutive funding.