IIM Mumbai to launch MBA course in innovation, entrepreneurship

IIM Mumbai, erstwhile NITIE, started to function under its new name from 2024-25 with three courses; MBA (general), MBA in Sustainability and Management, and MBA in Operations and Supply Chain Management. The institute is set to launch another MBA course along with two executive courses — an online as well as a weekend batch for working professionals.

Director of IIM Mumbai, professor Manoj Tiwari, said: “The course content for 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 new 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.”

To encourage the spirit of entrepreneurship among students, IIM Mumbai has already set up an incubation centre that is expected to be fully functional from February.

“The cost to set up this incubation centre is Rs 50 lakh. While we wait for it to become fully functional, students with innovative ideas are encouraged to work in their hostel rooms,” said Tiwari.

He added that they were also given financial support of Rs 10,000.

The institute has applied with the government to fund the incubation centre though it is also confident of being able to raise its own fund with the help of the alumni and industry.

280 students placed

Amid placements, IIM Mumbai has witnessed a positive impact of its new status with an increased number of companies visiting the campus to recruit students with higher average salary packages.

Close to 280 out of 480 students have been placed in the first phase of the placement process.

“After the IIM status, more companies are willing to participate in our placements. The average salary package has seen a jump from Rs 25-26 lakh to Rs 35-36 lakh,” said Tiwari.

He added that of the completed placements, 142 are pre-placement offers and 134 are students with work experience prior to their admissions to IIM.

The second phase will now conclude in January, which will include remaining students.

Cultural exchange initiative launched

The IIM Mumbai on Tuesday launched the 5th phase of the Yuva Sangam, a cultural exchange program.

The initiative, which is under the ‘Ek Bharat, Shreshtha Bharat’ campaign of the Prime Minister’s Office (PMO), aims to celebrate India’s cultural diversity and foster national integration.

For this phase, IIM Mumbai has partnered with IIT Bhubaneswar.

Each will represent their respective states, Maharashtra and Odisha, and host students selected for the cultural exchange between the two states.