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MaGIC has been moved out of the Ministry of Entrepreneur Development and Cooperatives (Medac), and will likewise change its focus from SMEs in general to tech startups.
MaGIC: An estimated 40% of local tech startups will not survive if the Covid-19 crisis continues after May
Though some startups have been quick to adapt to the movement control order, others are in urgent need of capital injection to stay afloat.