CMIA Incubation Council teams up with the Foundation on their site to execute Programme Advantage, aiding small and medium enterprises (SMEs) in their growth.
In a significant move to boost the growth of Small and Medium Enterprises (SMEs) in the Marathwada region of Maharashtra, India, the Marathwada Accelerator for Growth and Incubation Council (MAGIC) and a specific website Foundation have announced a partnership to host the Foundation's Advantage Program.
The Advantage Program is a pioneering initiative aimed at empowering SME growth, offering a unique opportunity for small businesses with annual revenues between USD 1-50 Million (Rs 5Cr- 350 Cr+) and an employee strength of 30 to 1000 to plot a hyper-growth trajectory. The program aims to accelerate revenue growth by 2X to 10X for participating SMEs over a twelve-month engagement.
MAGIC, a business incubator recognized by the Maharashtra State Innovation Society, plays a crucial role in fostering innovation and entrepreneurship in the Marathwada region. Its initiatives include business incubation, innovation challenges, and partnerships that support SME growth. MAGIC provides a supportive environment for startups and SMEs by offering resources, mentorship, networking opportunities, and infrastructure necessary for growth.
The Foundation, also involved in SME growth initiatives, is partnering with MAGIC to host the Advantage Program. The specific details of this program are yet to be disclosed, but it is expected to offer deep engagement lasting between 1 to 12 months, top-tier advisory, strategic, and operational services at no cost or subsidized rates, and post-program, SMEs receive up to three years of hand-holding support via an AI-enabled platform.
The Advantage Program is a first-of-its-kind initiative in the Marathwada region, benefiting SMEs that significantly contribute to regional growth and employment. The program is targeted at small businesses that are poised for growth and are looking to scale up their operations.
This partnership between MAGIC and the Foundation is a testament to the commitment towards fostering SME growth in the Marathwada region. The selection process for the Advantage Program lasts for 30 days, and interested SMEs are encouraged to apply to take advantage of this unique opportunity.
An entrepreneur seeking to propel their small business towards hyper-growth in the Marathwada region may find the Advantage Program beneficial, as it offers an opportunity for annual revenues between USD 1-50 Million businesses with 30 to 1000 employees to engage and potentially double to tenfold their revenue over a twelve-month period.
Recognizing the importance of supporting small-scale finance and growth, MAGIC and the Foundation have collaborated, aiming to offer a specialized program to aid entrepreneurship and spur the development of small businesses in the region.
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