This fund has allocated resources of up to USD$100,000 to support emerging companies looking to grow during the remainder of 2023 and part of 2024.
Additionally, Magical has invested USD$2.8 million in 35 startups in the region, with three of them achieving significant success.
“There are several challenges along the way, one of which is early-stage financing, and this is one of the dimensions we address with the new fund,” explained Juan Orlandi, General Manager of Magical.
These achievements contrast with Mexico’s position at 44th on the list of countries with the best environment for entrepreneurs, according to the Global Entrepreneurship Monitors Global Report.
This is largely due to the lack of financial support for entrepreneurial initiatives.
To access this fund, interested companies will need to complete a form and undergo an evaluation process to determine their potential to receive investment and support in their development.
“In addition to financing, we carry out a very specific support program for the companies in which we invest, increasing the likelihood of survival and success</strong,” Orlandi added.
Once the capital has been invested, Magical will launch a six-month digital acceleration program, divided into three stages: growth, establishing connections, and fundraising.
Who is Magical?
It is an accelerator that helps founders of startups looking to boost their growth, as well as investors seeking projects with the potential to inject their capital. It also has a specialized area to support learning between the two parties.
“We collaborate and support companies, foundations, international organizations, and ecosystem colleagues in innovation and technology projects,” emphasizes Magical.