IIM Lucknow Launches 1 Year (16 Month) MBA Entrepreneurship and Innovation; 1st IIM to Launch Such Program; Check USPs, Fees, Selection Process; Last Date to Apply - June 30, 2023

Giving a boost to the vision ‘Make in India’; ‘Start up India’, IIM Lucknow has launched unique 16 month full time MBA Entrepreneurship and Innovation program from the academic session 2023.  The program is intended for the candidates who wish to launch their own ventures as entrepreneurs and have an entrepreneurial mindset. Graduates in any discipline with valid CAT 2022 score or GMAT score, with or without work experience can apply for admission 2023 with an application fee of Rs.1000/-. IIM Lucknow is the first IIM to have launched such a full time MBA program. Last date to apply is June 30 and the academic session begins in September 2023.   

The double crowned and highly ranked IIM Lucknow has released its MBA E&I Admission Policy and has announced all the important details of selection criteria 2023 for the program. Read below all the key details about IIM Lucknow MBA E&I admission criteria 2023, key USPs, cut offs, Fees, and more

Table of Contents

1. IIM Lucknow: Key Highlights and USPs
2. IIM Lucknow Programs Offered
3. IIM Lucknow International Partner Institutions
4. IIM Lucknow MBA Entrepreneurship and Innovation: Highlights
5. IIM Lucknow MBA E&I Fees
6. IIM Lucknow Placements 2023
7. IIM Lucknow MBA Entrepreneurship Eligibility criteria 2023
8. IIM Lucknow MBA Entrepreneurship Application Process 2023: How to Apply?
9. IIM Lucknow MBA Entrepreneurship Admission 2023-24: Important Dates
10. IIM Lucknow MBA Entrepreneurship Admission Criteria 2023

1. IIM Lucknow: Key Highlights and USPs
IIM Lucknow is a highly ranked management institute in India. It has lower fee than other top 4-5 IIMs and has high placement record at par with all the top IIMs and other top B-schools. Some of the key highlights of IIM Lucknow are shared below

• 1.1 Highly Ranked: Ranked 6^th in the Ministry of HRD NIRF Ranking 2022 among top 125 Management Institutes in India and is ranked #4 in MBAUniverse.com B-School Ranking 2022.
• 1.2 Double Crowned International Accreditation: IIM Lucknow has earned two international accreditations. The latest earned Accreditation is from AACSB (Association to Advance Collegiate Schools of Business) while it was already accredited by AMBA (The Association of MBAs). The accreditation has been accorded to its PGP, IPMX and WMP programs without any conditions attached to the accreditation.
• 1.3 Moderate Fees: IIM Lucknow MBA Entrepreneurship & Innovation program Fees is Rs. 14.30 lakhs for the entire programme.
• 1.4 High Placements: IIM Lucknow has a consistent 100% placement record with high salary packages. In placement 2023 for 2021-23 batch, average salary was Rs.32.20 lakhs and the Highest domestic salary was Rs.55 lakhs while the international salary was Rs.65 lakhs.
• 1.5 Top Recruiters: Some of the top recruiters in Placement 2023 included Aditya Birla Group, Accenture, Adobe, Bain & Co., Barclays, BCG, Capgemini, Citi, Deutsche Bank, Deloitte, EY, Goldman Sachs, HSBC, Kearney, KPMG, McKinsey, Microsoft, PwC, RPG, Xiaomi
• 1.6 International Placements: International profiles are offered by Omnibiz, Landmark, Splash among others
• 1.7 International Exchange: IIM Lucknow International Exchange Program initiative is a process through which its students can do a part of their studies in 35+ Business Schools located all around the world. At the same time, foreign students and teachers come to IIM Lucknow to understand the working and mindset of one of the potentially largest markets in the world.
• 1.8 Institute with 2 Campuses: IIM Lucknow has two campuses – its main campus is at Lucknow where it offers PGP and PGP-ABM programmes and another campus is at Noida in Delhi NCR where it offers PGP-SM, Executive Management Programs for working professionals and important faculty development programs also

2. IIM Lucknow MBA Programmes
With the launch of MBA Entrepreneurship and Innovation programme available for fresh graduates, IIM Lucknow offers following full time MBA programmes which do not require mandatory work experience:

• 2 Years Full Time Post Graduate Programme in Management (PGP)        
• 2 Years Full Time Post Graduate Programme in Agribusiness Management (PGP-ABM)
• 2 Years Full Time Postgraduate Programme in Sustainable management (PGP-SM)
• 16 month Full Time MBA Entrepreneurship and Innovation (MBA E&I)

3. IIM Lucknow International Partner Institutions
IIM Lucknow has partnered with many reputed international institutions across the world for student exchange, research, faculty exchange programmes. These institutes abroad are located in North America, Europe, Asia, Africa and in other countries. 

Some of the prominent international partner institutes of IIM Lucknow include McMaster University-Michael G Degroote School of Business, Canada; Kelley School of Business, USA; University of North Texas College of Business, USA; University of Akron, USA; Brock University, Canada; ESSEC Business School, France; NEOMA Business School, France; Turku School of Economics, Finland; ESCP-EAP, European School of Management, France; Bocconi University, Italy; University of St. Gallen, Switzerland; University of Hull, United Kingdom; Athens University of Economics and Business, Greece; Universite Catholique de Louvain (UCL), Belgium; Beijing Jiaotong University, China; National University of Singapore, Singapore; Singapore Management University, Singapore; Ben-Gurion University of the Negev, Israel; Gordon Institute of Business Science, University of Pretoria, South Africa; Lincoln University, New Zealand among others

4. IIM Lucknow MBA Entrepreneurship and Innovation: Program Highlights

• IIM Lucknow MBA Entrepreneurship and Innovation program is intended for the candidates who wish to launch their own ventures as entrepreneurs. This requires candidates to have an entrepreneurial mindset, including risk-taking, hard work, creativity, and passion.
• 1:1 mentorship by existing entrepreneurs
• The program aims to enable such people to launch their own venture by the time the program ends, or soon thereafter.
• The participants will have developed their ideas, prepared a business plan, validated it, and sought and obtained funding for their venture.
• Apart from imparting the required skills and knowledge, the program will focus on developing the industry knowledge and professional networks of the participants.
• IIM Lucknow has a vibrant entrepreneurial culture and entrepreneur community with over 600 alumni entrepreneurs, who work in the area including venture capitalists, angel investors, and consultants.
• IIM Lucknow campus has two incubators which run out of the Noida campus. These are the SCI-FI Incubator and the L-Incubator which seek to nurture entrepreneurial talent. These offer a host of facilities including an Artificial Intelligence lab equipped with a supercomputer, co-working spaces, and various helpdesks including for finance and legal matters.
• The MBA Entrepreneurship and Innovation aims at utilising these and other facilities during the program, to achieve its objectives.

4.1 Curriculum & Pedagogy
The MBA (Entrepreneurship and Innovation) program follows a curriculum philosophy and pedagogy based on:

• Entrepreneurial Knowledge and Skills (50%) that will be imparted through multi-disciplinary courses at the post-graduate level.
• Industry Inputs, Immersion, and Mentorship (50%) that will be delivered through concurrently running workshops, a mentorship program with alumni entrepreneurs, shadowing opportunities, and experiential learning.

4.1.1 MBA Entrepreneurship & Innovation: Program Curriculum
IIM Lucknow has divided its 16 month MBA in Entrepreneurship and Innovation programme in 5 Modules as below:

4.2 Key Takeaway
IIM Lucknow MBA E&I is a focused, intense, practical 16-month program with the sole objective of
allowing you to envision, design, build, and launch your own venture. The MBA E&I program is intended for individuals who want to become entrepreneurs, launching and managing their own venture and taking it to great heights. On completion of the program, the candidate will:

• Identify and validate the business idea
• Acquire the knowledge and skills needed to launch and fund it
• Develop a professional entrepreneurial network needed to succeed
• Balanced between theory, skill, and practice
• Internship opportunities with VCs, entrepreneurs
• Supported by an existing entrepreneur alumni community of more than 600
• Get your venture launched by program end

5. IIM Lucknow MBA Entrepreneurship Fees: Rs.14.30 Lakhs

• The total programme fees payable by MBA E&I students at IIM Lucknow is Rs 14,30,000/-
• Laptop computer, personal expenses on boarding, travel, clothes and laundry are extra.

6. IIM Lucknow Placements 2023 & 2022
IIM Lucknow concluded final placement 2023 breaking previous record and achieving again 100% placement for the 37th PGP batch 2021-23 and 18^th PGP-ABM batch 2021-23. The large batch of students witnessed the participation from domestic and international recruiters. IIM Lucknow has broken its own record in achieving new heights in salary packages.

6.1 IIM Lucknow Placement 2023: Key Highlights

• Average Salary has gone up at Rs.32.20 LPA in placement 2023 from Rs.31.03 LPA last year
• Highest domestic salary has gone down at Rs.55 LPA from Rs.58 LPA last year
• Highest International Salary in Placement 2023 has gone up at Rs.65 LPA from Rs.61.59 LPA last year
• Batch of 556 students got 632 placement offers by 200 marquee recruiters
• Consulting Companies Accenture, Deloitte, BCG, PwC, McKinsey emerged as top recruiters with 122 offers
• Top recruiters included Aditya Birla Group, Accenture, BCG, Deloitte, EY, Kearney, KPMG, McKinsey, Microsoft, PwC, ITC, HUL, among others.
• This is the 4^th Placement year for which IIM Lucknow has released its Placement statistics

6.2 IIM Lucknow Placement 2022: Key Highlights

• Placement Process was conducted in Virtual Mode both for Recruiters and Students
• Completed 100% Placements in 2 days
• Average Salary has gone up by 19% at Rs.31.03 LPA in Placement 2022 from Rs.26 LPA last year
• Highest domestic salary has gone up at Rs.58 LPA in Placement 2022 from Rs.51 LPA last year
• Highest International Salary in Placement 2022 has gone up at Rs.61.59 LPA from Rs.56 LPA last year
• Median salary in Placement 2022 has gone up by 23% at Rs.29 LPA from Rs.23.5 LPA last year
• Batch of 491 students got 534 placement offers by 150+ marquee recruiters
• Top Domestic recruiters included Aditya Birla Group, Accenture, Adobe, Bain & Co., Barclays, BCG, Capgemini, Citi, Deutsche Bank, Deloitte, EY, Goldman Sachs, HSBC, Kearney, KPMG, McKinsey,Microsoft, PwC, RPG, Xiaomi among others.
• Top International Recruiters included Omnibiz, Landmark, Splash

Read More

7. IIM Lucknow MBA Entrepreneurship Eligibility criteria 2023

• A candidate aspiring for the admission into the MBA (Entrepreneurship & Innovation) program 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 have a valid CAT 2022 score or valid GMAT score of the GMAT taken after 1st January 2021.

 8. IIM Lucknow MBA Entrepreneurship Application Process 2023: How to Apply?

• Application process for MBA E&I admission at IIM Lucknow has opened
• Candidates have to apply online
• IIM Lucknow MBA E&I Last Date to apply is June 30, 2023
• IIM Lucknow MBA Entrepreneurship Application Fees is Rs.1000

9. IIM Lucknow MBA Entrepreneurship Admission 2023-24: Important Dates
IIM Lucknow MBA E&I Admission process 2023 has started. Important dates related to admission activities for IIM Lucknow MBA E&I 2023-24 batch are as below:

10. IIM Lucknow MBA Entrepreneurship & Innovation Admission Process 2023

• Candidates will be shortlisted for the personal interview on the basis of their performance in the CAT/GMAT, scholastic achievement, gender, and relevant work experience.
• The personal interview stage will comprise of a business plan presentation and interview.
• Personal interviews will be conducted at Bengaluru, Mumbai, Noida, Lucknow.

10.1 IIM Lucknow Cut Off for MBA Entrepreneurship & Innovation 2023-24
The MBA E&I cut offs announced by IIM Lucknow to shortlist the candidates for admission 2023 for this programme are:

CAT 2022 Cut offs: Minimum Percentile Required

GMAT Cut offs: Minimum score required
Candidates who have taken GMAT from January 2021 and have valid score are eligible:

Source: IIM Lucknow MBA Entrepreneurship & Innovation Admission Policy 2023

10.2 IIM Lucknow Shortlisting Criteria for PI Round
Only the candidates securing the above-mentioned minimum sectional and total percentiles for the respective category in CAT 2022 or GMAT Score will be considered for PI round. IIM Lucknow will shortlist the candidates on the basis of CAT 2022 score, past academic performance, and other criteria. Key details and weightages applied to each component in IIM Lucknow shortlisting criteria 2023 for PI round  before final selection are as below:

Weightage Parameters

10.3 IIM Lucknow MBA E&I Final Selection Criteria weights for Admission 2023
Final merit list will be prepared according to the composite score calculated based on following parameters & Weightages

Business Plan: 40% Weight

• Shortlisted candidates will be asked to make a short presentation of maximum five minutes duration on their business plan at the start of the interview

Interview: 60% Weight

• The minimum requirement for getting a pass in interview is 18 out of 60 marks
• Names of candidates who do not pass in interview will not be included in the final merit list.

The Indian Institute of Management Lucknow is fourth in the IIM family of management schools and was established in India after IIM Calcutta, IIM Ahmedabad and IIM Bangalore. The Institute was established in the year 1984. IIM Lucknow moulds its students into value driven leaders, managers and global players. The institute undertakes a diverse range of academic activities aimed at creation, dissemination and application of management knowledge and practice. In 2005, IIM Lucknow became the first IIM to set up a satellite campus exclusively for Executive Education at NOIDA in Delhi NCR region.

Stay tuned to MBAUniverse.com for more updates on IIM Lucknow