IIM Mumbai, formerly NITIE, is set to launch an MBA program in Innovations and Entrepreneurship starting in the academic year 2025–2026. The goal is to promote entrepreneurship and innovation among students. The content of the program has been finalised and is awaiting approval from the academic council.
The institute is also setting up an incubation hub to encourage creative ideas and entrepreneurial ventures. The hub is expected to be fully operational by February 2025. It will cost INR 50 lakh to establish. Students can begin working on their ideas in their dorm rooms until the hub is ready. INR 10,000 in cash assistance has already been received, and additional funding is being sought from the government.
Since its transition to IIM status, the institute introduced three new degrees in the academic year 2024–2025. These include general management, sustainability and management, and operations and supply chain management. It also offers two executive programs: an online course and a weekend course for working professionals. Additionally, a weekend MBA program is under development.
During recent placements, 280 out of 480 students were successfully placed in the first phase. Of these, 134 had prior work experience, while 142 students received pre-placement offers. The remaining students will participate in the second phase, which concludes in January. The new IIM status has attracted more companies, leading to higher average salaries. The average package has increased from INR 25–26 lakh to INR 35–36 lakh.
Furthermore, the fifth phase of Yuva Sangam, a cultural exchange program, was also initiated by IIM Mumbai. This program is part of the Prime Minister’s "Ek Bharat, Shreshtha Bharat" campaign and promotes cultural diversity and national unity. For this phase, IIM Mumbai collaborated with IIT Bhubaneswar.
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