I Create India

What, Why & How

line

What is MAGIC FUND?

MAGIC (Mentor and Angel Group of I Create) Fund is a donation based seed capital assistance fund. This fund has been created by I Create India through the generous contributions of many individuals and organizations.

 The focus is on providing hassle free and low cost access to capital to the aspiring entrepreneurs who have been trained by I Create and who have a viable business plan and an implementation strategy.
line

Why MAGIC Fund?

Access to capital is one of the crucial aspects of Entrepreneurship Development. To start an enterprise one certainly needs to have an idea that is technically feasible and commercially viable. After ascertaining that idea is both feasible and viable, aspiring entrepreneurs work on and develop their Business Plan and start their quest for capital.

This is when most of them get frustrated. There are many government schemes (both state and central) but the bureaucracy is daunting to these people. Micro Finance Institutions are willing to lend money; but their interest rates and structure are usurious when compared to the rate of return the micro enterprises can hope to achieve. /span>

line

How MAGIC Fund Operates?

Corpus of the MAGIC Fund is operated by I Create India. It follows a very transparent process for disbursement and collection of assistance. Briefly:

line

Amrit Fund

Amrit Fund was created in memory of Late  Amrit Rai Kapoor, father of Col. Vijay Kapoor, founder Director of I Create Rajasthan. Col.Kapoor created this fund in 2013 as a corpus donating generously to financially support aspiring entrepreneurs trained by I Create who found it difficult to start their businesses for want of initial capital. Once created many other donors stepped in to contribute to the economic upliftment of the disadvantaged. Other donors to this fund are  Ms. Rita Puri, Shrimati Kamla Mankekar mother of Dr. Aruna Bhargava, Raghu Sinha Mala Mathur Charity Trust, and Danish Pvt.Ltd.