On March 20, 2017, a 15-member Board of Governors of Indian Institute of Management, Lucknow gave approval for the establishment of an Incubation Centre on the campus of the premier B-School. The main objective of setting up Incubation Centre is to promote research and innovative projects.
Mr. Ajit Prasad, Director of Indian Institute of Management, Lucknow revealed that everyone is welcome to come up with a viable proposal for initiating any innovative project. IIM Lucknow will support the project and help in transferring of technology to industry. He further explained that SIDBI or Small Industries Development of Bank of India has come forward to give Rs. 3.5 crore for setting up the Incubation Centre at IIM Lucknow.
The Board of Governors also confirmed that there would be no hike in tuition fee for the coming academic session. Therefore, the fee structure that was applicable last year will be followed this year too. The students have to pay a fee Rs. 14 lakh as tuition fee. Mr. Ajit Prasad explained that the Board of Governors felt that there is a need to provide quality education at an affordable price. Therefore, the fee hike that was proposed earlier was revoked.
Earlier, Indian Institute of Management, Lucknow had proposed to hike the fee by 15%. If the Board of Governors had approved the proposal, the students would have paid Rs. 16 lakh as the tuition fee.
Apart from decisions relating to incubation Centre and fee hike, the Board of Governors also agreed to host the IIM Conference. The conference is expected to take place in December 2017. Managing digital economy will be the main issue on which discussions will take place during the conference.