The Indian Institute of Management (IIM), Bangalore would be mentor institution for newly introduced Indian Institute of Management (IIM), Visakhapatanam.
The new IIM Visakhapatnam is all set to start its academic year from 2015-16 with an intake of 75 students. Admission process are in progress for the year 2015-16. Admission would be based on the Common Admission Test (CAT) 2014 scores.
IIM Visakhapatnam would begin its academic operation from this year with the IIM Bangalore's flagship two-year Postgraduate Programme (PGP) in Management.
As per the tradition, all new IIMs are mentored by an existing IIM Facility.
The IIM-V will function from the Andhra Bank sponsored College of Management in Andhra University, till the new campus comes up at Gambheeram.
Confirming this, AU registrar Prof K Ram Mohan Rao said: "This is the first round of talks between the two institutions after the decision was taken to run IIM-V temporarily from the AU campus and the first-year IIM students will be studying on the AU campus. The IIM-B team checked out the premises and suggested certain changes."
However, the AU registrar said the varsity has offered to accommodate the girl students within their campus, but IIM-B representatives are yet to give their nod.
On January 17, 2015, the Union HRD Minister Smriti Irani laid the foundation stone for IIM Visakhapatnam at Gambheeram village in the presence of Union Minister of Urban Development M Venkaiah Naidu, Chief Minister N Chandrababu Naidu and others.
The new campus would be built up in an area over 300 acre campus and with basic infrastructure facilities.
The IIM-V is the first of the Central premier institutions to be established in the State of Andhra Pradesh under the provisions of the AP Reorganisation Act 2014.