IIM, Lucknow starts MBA in Entrepreneurship and Innovation: Check details

Hyderabad: In keeping with the goal of the Prime Minister to foster India's entrepreneurial spirit through the "Make in India" and New Education Policy, an intensive 16-month MBA program in Entrepreneurship and Innovation will begin in August 2023 at the Indian Institute of Management, Lucknow.

This program will be the first of its type provided by an IIM and will attempt to provide students with the information and abilities they need to succeed as innovators and entrepreneurs.

MBA in Entrepreneurship and Innovation application deadline is June 30, 2023. The website https://www.iiml.ac.in/admissions may be used to submit an application by interested parties.

Candidates for the MBA in Entrepreneurship and Innovation program should have a burning ambition to launch their own businesses to address a pressing issue. Ideal candidates should be passionate, enthusiastic, and motivated to start their own initiative, academic expertise, problem-solving ability, and critical thinking talents to put their concept into action. Candidates should also have good communication skills and a realistic outlook to carry out their strategy.

The following are the program's key elements:

The curriculum for the MBA in Entrepreneurship and Innovation program is built on a philosophy and methodology that emphasizes entrepreneurial knowledge and skills (50%) and industry inputs, immersion, and mentorship (50%).

Multidisciplinary courses will include information and resources pertinent to start-up companies and will cover all facets of management and related subjects.

The program would provide mentorship chances to the more than 500 entrepreneur graduates of IIM Lucknow.

Students will be assisted in developing their company plans and working with venture capitalists to polish them, secure investment, and get them ready for launch.

The program will provide participants the chance to get experience in international entrepreneurship by traveling to partner universities overseas or working with one of IIML's two incubators or a partner incubator.

For the Common Admission Test (CAT), candidates must hold a bachelor's degree or equivalent in any subject to be eligible for admission into the MBA in Entrepreneurship & Innovation program.

Additionally, applicants must have a valid CAT 2022 score or a valid GMAT score from a test administered after January 1, 2021. This program would cost a total of Rs. 14,30,000.

IIML Enterprise Incubation Centre, a section 8 corporation, and SIDBI Incubator are the two incubators that are now located on the campus of IM Lucknow. In addition to the knowledge and value that the incubators at IIM Lucknow have developed over the years, the students in this program will benefit from the assistance of our incubated enterprises.

Prof. Archana Shukla, Director of IIM Lucknow, commented on the first-ever MBA program offered by an IIM: "IIM Lucknow has built an entrepreneurial environment with our two successful incubators. The MBA-E&I program makes use of and increases ecosystem strength. The curriculum and admissions philosophy of the program is built on skill development and strives to release the entrepreneurial spirit, making it distinctive”.

The program aims to produce a result in which at least 40% of graduates have, within a year of graduation, established a business that has profitably garnered outside capital or investment, enabling it to advance to the next stage of growth.