The Chamber of Marathwada Industries and Agriculture (CMIA) signed a contract with a state-run innovation outfit to set up a business incubation centre in Aurangabad in Maharashtra, an official said on Friday.
The contract was signed by the Marathwada Accelerator for Growth and Incubation Council (MAGIC), part of the CMIA, and the Maharashtra State Innovation Society (MSInS) under the state government's Department of Skill Development and Entrepreneurship.
"The business incubation centre will encourage start- ups and entrepreneurship in Marathwada region. It will set up regional, national and global linkages, including a network of mentors, to help start-ups," MAGIC director Ashish Garde told PTI.
As part of the agreement, MAGIC will get grants of Rs 5 crore for a period of five years from the MSInS, he said.
The move will help firms to avail benefits under the Maharashtra State Innovative Startup Policy 2018, he added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app