• Indian Institute of Management Udaipur Incubation Center announced applications for Pre-Incubation Program 2020.
• This program is sector-agnostic and is open to all students, professionals, and entrepreneurs who want to convert their idea into a venture.
• Applications open on November 24^th, 2020

November 24^th, 2020; Udaipur: Indian Institute of Management Udaipur Incubation Center (IIMUIC) announced applications for Pre-Incubation Program 2020 with the vision of transforming entrepreneurial ideas into a reality and building successful ventures. The program will run for ten weeks, starting from January 3^rd, 2021. It will provide a platform for aspiring entrepreneurs to work on their ideas.

COVID-19 has hit businesses and entrepreneurs alike and affected their ideas even before they had a chance to work on them. In such a scenario, this program of IIMUIC is aimed at empowering budding and aspiring entrepreneurs with an entrepreneurial mindset and business skills necessary to create their own venture from ground-up. Additionally, they will also develop intrapreneurship skills, and get them started on the venture journey.

On this development, Suresh Dhaka, COO, IIMU IC said, “At IIM Udaipur, entrepreneurship is one of the key building blocks. We endeavour to have a positive impact on the world of business through our curriculum efforts on entrepreneurship. We want to foster innovation and create a socially responsible impact.”

“This is not a theoretical program – you will actually start your venture and build it as you progress through this program,” she added.

Eligibility

• Working Professionals
• Entrepreneurs
• Students

Program Highlights

• Cohort based structured program
• Practical Masterclasses with Experts
• Group Mentoring Sessions
• Investor and Mentor Connect
• Certificate of Completion from IIMUIC
• Incubation Opportunity for Selected Startups
• Chance to qualify for TIDE 2.0 grant under MeitY scheme

The program structure includes generating and selecting ideas; forming and developing a team; creating and validating the business model; building and testing MVP; achieving a product-solution-market fit; raising and spending seed capital; identifying and managing partnerships; and acquiring and keeping customers, as well as scaling the business.

 Important Dates

The latest program is sector-agnostic and is supported by Amazon Web Services, Google Cloud, Wadhwani Foundation and Saksham- The Entrepreneurship Cell of IIM Udaipur. Due to the ongoing pandemic, the program will be held virtually.

For more information, visit: https://iimuic.org/pre-incubation

About IIM Udaipur

IIM Udaipur Campus

For more than fifty years, IIMs have become recognized as premier management institutions, comparable to the best in the world for teaching, research, and interaction with industry. IIMU also aims to set a new benchmark in the field of management education by combining excellence in both teaching and research.

The Institute has arrived on the global education stage by getting accreditation from the AACSB (Association to Advance Collegiate Schools of Business) in merely eight years of its establishment. With this accreditation, IIM Udaipur is now counted in the same league of global institutes like Harvard Business School, Wharton School at the University of Pennsylvania, and the MIT Sloan School. IIMU has recently been listed on the QS 2021 Masters in Management (MIM) Rankings as well as the Financial Times (FT) MIM Ranking 2020. IIMU is the youngest B-school in the world on both these rankings. According to the National Institutional Ranking Framework (NIRF) 2020, IIM Udaipur is ranked 17th amongst all B-Schools. IIMU is currently ranked 4th in India for research in the field of management according to the methodology used by UT Dallas which tracks publications in the leading global journals.

Placement Highlights

• 100% Placement of the 18-member batch
• 100% through campus generated employment opportunities
• Highest maximum earning potential (Domestic): Rs 22.42 LPA
• Average maximum earning potential (Domestic): Rs 15.44 LPA

Average salary (Mid 80 percentile offer average) – Past 5 years

• Average maximum salary was Rs 12.1 LPA in 2014-15
• Average maximum salary was Rs 13.88 LPA in 2015-16
• Average maximum salary was Rs 14.00 LPA in 2016-17
• Average maximum salary was Rs 13.30 LPA in 2017-18
• Average maximum salary was Rs 15.44 LPA in 2018-19

Major Placement Sectors

Roles were offered across various domains like

• Analytics
• Materials Management
• Operations
• Sales and Marketing
• Supply Chain Management

Top Recruiters at IIMU PGPX 2019 Placements

Prominent recruiters included

• Cognizant
• Colortokens
• Flipkart
• Future Supply Chain Solutions
• Hiveloop logistics
• Johnson & Johnson
• Jubilant FoodWorks
• Mahindra & Mahindra
• Michelin
• P.D. Hinduja National Hospital & Medical Research Centre
• Robotic Wares
• Waaree

Domain-wise Placement Details

Sector-based Recruitment

Of the 18 students, FMCG / Retail, Information Technology, Logistics and Manufacturing recruited 4 each. E-Commerce and Healthcare took in one each.

Function-based Recruitment

Of the 18, students, 8 went into Supply Chain Management which the 15-month program offers as a dual-degree in collaboration with Purdue University’s Krannert School of Management. Sales & Marketing took in 4 and 2 each went into Analytics, Materials Management and Operations.

All 18 students found employment in India. Of them, five each were located in Bengaluru, National Capital Region (NCR) and Mumbai, two went to Chennai and one to Pune.

IIMU PGPX Class of 2019 Profile

• Number of students: 18
• Average work experience: 58 months
• Sectors represented: Manufacturing, Healthcare, Consulting, Analytics, Apparel, Industrial equipment and IT
• Educational background: Engineering, Fashion Technology, Healthcare, Management

IIM Udaipur’s summer and final placement reports are prepared according to the Indian Placement Reporting Standards (IPRS) and are audited by an external auditing agency.

Source 1, 2

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Founded in 1916, AACSB (Association to Advance Collegiate Schools of Business) is the longest-serving global accrediting body for business schools and the largest business education network connecting students, educators, and businesses worldwide.

IIM Udaipur has become the youngest B-School in India to receive the accreditation within eight years of inception. It also becomes the fourth IIM to gain either AASCB or EQUIS international recognition, the others being IIMs Ahmedabad, Bangalore and Calcutta.

AACSB accreditation, received by only 5% of the world’s B-schools, recognizes institutions that have demonstrated a focus on excellence in all areas, including teaching, research, curricula development, and student learning. The list of accredited schools includes Harvard Business School, Wharton School at the University of Pennsylvania and the MIT Sloan School.

“IIM Udaipur’s commitment to earning accreditation is a true reflection of their dedication—not only to their students, alumni network, and greater business community but to the higher education industry as a whole,” said Stephanie M. Bryant, Executive Vice President and Chief Accreditation Officer of AACSB International.

“From day one, IIMU has been focussed on building a globally recognized management institution. AACSB accreditation, at such an early stage, gives us the confidence to continue to dream big, said Janat Shah, Director, IIM Udaipur.

“We have benefited from the impressive legacy built by IIMs over more than 50 years and are proud of breaking new ground by focusing on world-class research, forging strong bonds with our corporate partners and providing a transformational experience for our students.

“AACSB accreditation is a big step on this journey. The next step will be the new Centre for Digital Enterprise that we will be setting up early in 2019,” he added.

All AACSB-accredited schools must successfully undergo a rigorous review process conducted by their peers in the business education community. This accreditation for IIMU’s PGP, PGPX, and FPM programs is a testimony to the quality of the Institute’s resources, credentials, and the transformational management education provided to the students.

It will pave the way for IIM Udaipur to build stronger international linkages, especially for student and faculty exchanges, the Institute said in a press release.

“The S.P. Jain Institute of Management and Research’s commitment to earning accreditation is a true reflection of their dedication – not only to their students, alumni network, and greater business community but to the higher education industry as a whole,”

Meanwhile, SPJIMR quoted Bryant to point out that AACSB Accreditation recognized institutions that have demonstrated a focus on excellence in all areas, including teaching, research, curricula development, and student learning.

“We congratulate the S.P. Jain Institute of Management and Research and Dean Ranjan Banerjee on earning accreditation, and applaud the entire team – including the administration, faculty, directors, staff, and students – for their roles in earning this respected honour,” she added.

At present, 831 institutions across 54 countries and territories maintain AACSB Accreditation. Furthermore, 187 institutions maintain a supplemental AACSB Accreditation for their accounting programs.

AACSB Accreditation provides a framework of 15 international standards against which business schools around the world assess the quality of their educational services. These standards ensure continuous improvement and provide the focus for schools to deliver on their mission, innovate, and drive impact.

AACSB-accredited schools have successfully undergone a rigorous review process conducted by their peers in the business education community, ensuring that they have the resources, credentials, and commitment needed to provide students with a first-rate, future-focused business education.

“The S.P. Jain Institute of Management and Research’s commitment to earning accreditation is a true reflection of their dedication – not only to their students, alumni network, and greater business community but to the higher education industry as a whole,” Bryant said.

“Today’s students are tomorrow’s business leaders and the addition of SPJIMR to the network of AACSB-accredited business schools will have a lasting positive impact for their institution, both locally and globally,” she added.

AACSB International also announced that the Business School at Hankuk University of Foreign Studies, ESCA Ecole de Management, International Centre for Education in Islamic Finance (INCEIF), Jyväskylä University, Macquarie University, National Chung-Hsing University, the School of Accounting at Southwestern University of Finance and Economics, Troy University, Ulsan National Institute of Science and Technology, Universidade de Lisboa and the University of Mary Washington have earned accreditation in business.

How far has IIM-U come on that road? In an official response, the institute said, “We have invested heavily in trying to provide a rigorous academic programme to our students. IIM-U has been among India’s top 15 management institutes in the overall rankings as per the Union Human Resource Development (HRD) Ministry’s National Institutional Ranking Framework (NIRF) rankings for the last 3 years.

“Certainly, we will be at the forefront of knowledge dissemination, with the highest quality teaching to deliver our programs,” the spokesperson added.

Meanwhile, IIM Udaipur has been rated Number 3 in The UTD top 10 Indian business rankings based on research publications in top 24 leading business journals. The UT Dallas’ Naveen Jindal School of Management has created a database to track publications in 24 leading business journals.

The database contains titles and author affiliations of papers published in these journals since 1990. The 3rd position is on the basis of publications made in the Top 24 journals during 2013-2017.

While the Indian School of Business (ISB) occupies the first rank with a score of 19.22 and 53 papers and IIM Bangalore with a score of 6.08 and 14 papers, IIMU, in the 3^rd rank, has a score of 1.27 with 4 papers.

IIM Ahmedabad is ranked 4^th with a score of 1.24 with 4 papers followed by IIM Lucknow in the 5^th place with a score on 1 for 1 paper. Ranked 6^th is IIM Calcutta with a score of 0.83 and 2 papers.

Asked whether handing over the career placement and other such services to professionals helped the institute, the spokesperson said, “A definite yes. Through the help of IIMU’s Corporate Relations Team of dedicated professionals, we have been able to build strong relationships with bigger brands, both within India and internationally. We have also been able to get diverse brands as our new recruiters

“From the perspective of the institute, it is important to that the faculty is focussed on the academics and research aspects of the institution. In this regard, having a team of experts who are specialists in the field of career placement has been highly beneficial.”

To a question about the PGPX program, the spokesperson said, “The PGPX program offered by IIMU is unique among Indian one year MBAs with a full partnership between IIMU and the prestigious Krannert School of Management at Purdue University in the United States.

“Given the nature of the program, most of the students who are part of it come with very good work experience or are part of the middle management who look at this program as a way to give a boost to their career or for changing fields of work.

“While the PGPX provides a thorough grounding in management fundamentals, it is the only one year MBA that offers an intensive specialization in Global Supply Chain Management,” the spokesperson added.

“Given the nature of the program, most of the students who are part of it come with very good work experience or are part of the middle management who look at this program as a way to give a boost to their career or for changing fields of work. So, the value offering of the PGPX program is quite different and unique as compared to the PGP program.”

Asked about IIM-U involvement in the Union Government schemes like Skill India, entrepreneurship promotion and projects specially meant for women and the weaker sections, the spokesperson pointed out the Management Development Program for Women Entrepreneurs launched in 2012. It takes place over a four week period at the IIM Udaipur campus. It is organized by the Center for Innovation and Entrepreneurship.

Apart from the women entrepreneurship program, the IIMU Incubation Center presents a dynamic opportunity to serve as a platform to launch and develop startups into scalable, viable and profitable businesses model. It provides a platform for participates and incubates to access the diverse resource of faculty and the entrepreneurial community.

“We are working towards making the Incubation Center the primary focal point for students, faculty and the larger entrepreneurial community interested in innovation and finding a home for launching immersive experiences,” the spokesperson said.

About steps being taken to improve the representation of women in management programs, the spokesperson said, “A diverse learning environment plays an essential role in preparing students for different work cultures found in the current environment. At the time of admissions, IIMU offers special diversity marks for female applicants and applicants from a non-engineering background.”