The Indian Institute of Management (IIM) Mumbai is set to launch an MBA course in innovations and entrepreneurship starting from the academic year 2025-26. The initiative aims to encourage entrepreneurship among students and includes the establishment of an in-house incubation centre expected to be fully functional by February 2025. IIM Mumbai, formerly known as NITIE, began operating under its new identity from the academic year 2024-25, offering three courses: MBA (General), MBA in Sustainability and Management, and MBA in Operations and Supply Chain Management.
Professor Tiwari, the Director of IIM Mumbai, stated, “The course content for the MBA in Innovations and Entrepreneurship is ready and awaits the academic council’s approval, which should be completed soon. We plan to offer this new course from the upcoming academic year, along with an online MBA course, which is already advertised on our website. A weekend MBA course is also in the pipeline.”
To nurture entrepreneurship among students, IIM Mumbai has set up an incubation centre with a setup cost of approximately Rs 50 lakh.
While the centre is being finalized, students with innovative ideas are encouraged to develop them in their hostel rooms. Financial support of Rs 10,000 is provided to these students.
Mba in innovations launching soon
The institute is seeking government funding for the incubation centre but is also looking to raise funds through alumni and industry partnerships. Since gaining IIM status, the institute has seen a positive impact on student placements, with a higher number of companies visiting the campus and offering increased salary packages. In the first phase of placements, 280 out of 480 students were placed, with the average salary package rising from Rs 25-26 lakh to Rs 35-36 lakh.
Of the placements, 142 were pre-placement offers, and 134 students had prior work experience before joining IIM. The second phase of placements will conclude in January. In addition to academic advancements, IIM Mumbai launched the 5th phase of the Yuva Sangam cultural exchange program on Tuesday, under the ‘Ek Bharat, Shreshtha Bharat’ campaign of the Prime Minister’s Office (PMO).
This initiative aims to celebrate India’s cultural diversity and foster national integration. For this phase, IIM Mumbai has partnered with IIT Bhubaneswar, with each institution representing their respective states and hosting students selected for the cultural exchange.
