The Indian Institute of Management (IIM) Mumbai is set to launch an MBA course in Innovations and Entrepreneurship from the academic year 2025-26. The institute is in the process of setting up an in-house incubation centre to support innovative ideas, which is expected to be fully functional by February. IIM Mumbai, previously known as NITIE, began operating under its new name from the academic year 2024-25.
It currently offers three courses: MBA (general), MBA in Sustainability and Management, and MBA in Operations and Supply Chain Management. The Director of IIM Mumbai, Professor Tiwari, said, “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 are planning to offer the new course from the upcoming academic year, along with an online MBA course, which is already advertised on our website for aspirants to apply.
A weekend MBA course is also in the pipeline.”
The incubation centre, set up at a cost of Rs 50 lakh, is central to encouraging student entrepreneurship. While awaiting its completion, students with innovative ideas are encouraged to work in their hostel rooms, receiving financial support of Rs 10,000. The institute has applied to the government for funding but is also confident of raising funds through alumni and industry partnerships.
New MBA and innovation support
Amid the placement season, IIM Mumbai has seen a positive impact of its new status, with an increased number of companies visiting the campus and offering higher average salary packages. Close to 280 out of 480 students have been placed in the first phase of the placement process.
“After obtaining the IIM status, more companies are willing to participate in our placements. The average salary package has increased from Rs 25-26 lakh to Rs 35-36 lakh,” said Tiwari. He added that 142 students received pre-placement offers and 134 students had work experience prior to their admission to IIM.
The second phase of placements will conclude in January, covering the remaining students. Additionally, IIM Mumbai launched the 5th phase of the Yuva Sangam cultural exchange program under the ‘Ek Bharat, Shreshtha Bharat’ campaign of the Prime Minister’s Office (PMO). This initiative celebrates India’s cultural diversity and fosters national integration.
For this phase, IIM Mumbai has partnered with IIT Bhubaneswar. The institutions will represent their respective states and host students selected for the cultural exchange.
