The Indian Institute of Management, Lucknow (IIM-L) will set up an incubation and research centre to promote innovative projects and research on its sprawling campus soon, its director said on Monday.
The 15-member board of governors of the business school gave its consent for the project during a meeting on Monday.
“Anybody who comes with some viable proposal for setting up any innovative project, the IIM-L will support that and will help in transferring technology to industry,” Ajit Prasad, director of IIM-Lucknow, told Hindustan Times soon after the meeting was over.
The Small Industries Development Bank of India (Sidbi) has agreed to give Rs 3.5 crore for setting up this incubation centre.
No fee hike this year
The new batch of students at IIM-L will be relieved as the board of governors have resolved not to increase the tuition fee for the new session. The students will pay Rs 14 lakh that was applicable last year too.
“The board felt that emphasis should be on quality education at an affordable price and the IIM-L should not be in the business of minting money by increasing fees,” Prasad said.
The IIM-L had proposed to raise its fee by 15% which meant students would have had to pay Rs 16 lakh for the two-year postgraduate programme had the board of governors approved it.
The faculty retreat programme, a drill in which teachers go abroad for 2-3 days to relook at the syllabus and brainstorm, will be re-examined.
Usually, it takes place outside India and countries such as Singapore are the preferred destination. But now it will be held in domestic location as taking all the faculty members abroad involves a lot of money, sources said.
The last retreat was held in 2004.
Pan IIM conference in Lucknow
The board of governors of IIM-L have agreed to host the IIM conference, involving all the IIMs, in Lucknow in December.
Experts will deal with the issue of managing the digital economy and it will be a 3-day intense brainstorming activity, Prasad said.
Last year, it was held in IIM-Ahmedabad and the year before in Indore.