IIM Lucknow becomes the first IIM to introduce a full-time MBA program in Entrepreneurship and Innovation
In line with Prime Minister’s vision to unleash the entrepreneurial spirit of India through programmes like ‘Make in India’ and NEP – New Education Policy’s focus on developing entrepreneurial competencies in students, Indian Institute of Management Lucknow is launching a full-time 16-month MBA program in Entrepreneurship and Innovation starting from August 2023. This program will be the first of its kind offered by any IIM and will aim to provide students with the necessary knowledge and skills to become successful entrepreneurs and innovators. The last date to apply for MBA in Entrepreneurship and Innovation at IIM Lucknow is 30th June 2023. Interested candidates can apply using the link – https://www.iiml.ac.in/admissions.
The MBA in Entrepreneurship and Innovation program is looking for candidates who have a strong desire to create their own venture to solve a significant problem. Ideal candidates should have enthusiasm, passion, and the drive to initiate their own venture, as well as academic knowledge, problem-solving abilities, and critical thinking skills to implement their idea. Additionally, candidates should possess communication skills and a practical mindset to execute their plan.
The salient features of the program are as follows:
ØThe MBA in Entrepreneurship and Innovation program curriculum is based on a philosophy and pedagogy of entrepreneurial knowledge and skills (50%) and industry inputs, immersion, and mentorship (50%).
ØMulti-disciplinary courses will cover all areas of management and allied fields, with content and materials relevant to start-up ventures.
ØThe program will offer mentorship opportunities with IIM Lucknow’s pool of over 500 entrepreneur alumni.
ØStudents will receive guidance in business plan preparation, working with venture capitalists to refine it, obtain funding, and prepare for launch.
ØThe program will provide options for gaining international entrepreneurial experience through visiting partner institutions abroad or working with IIML’s two incubators or partner incubator.
To be eligible for admission into the MBA in Entrepreneurship & Innovation program, candidates must have a bachelor’s degree or equivalent in any discipline as per the requirements of eligibility of Common Admission Test (CAT) conducted by IIMs. Candidates must also have a valid CAT 2022 score or valid GMAT score of the GMAT taken after 1st January 2021. The total fee for this program will be Rs. 14,30,000 /-.
Further information about the program can be found on the program website: https://www.iiml.ac.in/programmes/post-graduate-programmes/mba-e-and-i.
IM Lucknow currently has two incubators on its campus: IIML Enterprise Incubation Centre (a section 8 company) and SIDBI Incubator. The students of this program will leverage the support of our incubated companies, besides the expertise and value that IIM Lucknow’s incubators have created over the years.
Speaking about the first-of-its-kind MBA program from an IIM, Prof. Archana Shukla, Director, IIM Lucknow, said, “IIM Lucknow has developed an entrepreneurial ecosystem with our two successful incubators. The MBA – E & I program leverages and strengthens the ecosystem. The program is unique as we bring in admission and curriculum philosophy that is based on skills development and aims at unleashing the entrepreneurial spirit.”
The program seeks to achieve an outcome whereby at least 40% of graduates have, within one year of graduation, launched a venture that has successfully attracted external funding or investment, such that it is able to evolve to the next stage of growth.