Indian Institute of Management Visakhapatnam (IIM V) , which is currently operating from a transit campus, has less than three months to find its permanent address in Gambheeram. The new campus is getting equipped with future-ready learning technology and modern amenities. The 2022-24 batch will be the first batch to residentially inhabit the permanent campus.
Preparing for this big move, the institute of national importance has decided to take the intake into its flagship residential Post Graduate Programme (MBA) past the 300-mark for the 2022-24 batch — four sections of about 75 students each.
From an enrollment of about 50 students in the commencing year in 2015, the premier business school gave admissions to close to 200 students last year.
Starting with the 2022-24 PGP batch, IIM-V has decided to roll out a merit-based scholarship scheme to supplement the existing need-based financial assistance. Eight students — two from each section — will get a maximum fee waiver of Rs 6 lakh each under the merit-based scholarship initiative.
Prof. M Chandrasekhar, Director IIM V reportedly said that IIM-V is committed towards sustainable socially equitable outcomes like achieving inclusivity and making sure that no student is deprived of education due to financial issues. He also informed that the institute has decided to expand its student scholarship portfolio through merit-based financial aid.
About 17.5% of the 2021-23 batch have got at least 30% tuition fee waiver.
“Meanwhile, we are also increasing our capacities to train the students to meet the industry demands and the technological transformations. IIM-Vizag will have 35-36 accomplished faculty for the new batch, the highest among all the new IIMs,” said Prof Chandrasekhar.
IIM V expects this to attract the best talents and is also encouraging and assisting the students to apply for scholarships being offered by various external agencies.
Admissions Chair, IIM-Visakhapatnam, Prof Milan Kumar, informed that information systems will be made a core course for the PGP 2022-24 batch. “The technological disruptions and fast changing e-commerce landscape have made technology management skills a necessity. Entrepreneurship has already been introduced as a core course in the PGP programme last year. The institute is restructuring its PGP curriculum to cater to the changing industrial requirements and technological advancements. We want to match global standards in terms of both education and technology,” reportedly said Prof Milan.
Prof Milan added that the students can avail placement holidays and work on their start-ups or company, which means that they can join the institute’s campus recruitment process a year or two later. “However, they may come for deferred placements only in the worst-case scenario when their entrepreneurial dreams fail,” said Prof Milan Kumar.