BHUBANESWAR: The Indian Institute of Management (IIM) Sambalpur has incubated 35 startups, with nine of them receiving seed funding of Rs 40 lakh, Director Mahadeo Jaiswal has announced during the its 12th Foundation Day.
The Foundation Day celebrations also marked the inauguration of the 11th edition of its annual business conclave, Marmagya 11.0.
The event was held on the theme “Societal Impact of B-Schools”, while Marmagya 11.0 focused on “Thriving on Business Disruption and Turbulence in an Interconnected World.”
The institute also recognised its top performers, including 10 BS students and 16 MBA students, who received prize money of Rs 1 lakh each.
The nine startups incubated under the IIM Sambalpur I-Hub Foundation received Rs 5 lakh seed grants each, while four alumni-led startups signed incubation MoUs with the institute.
Celebrating the 12th Foundation Day of IIM Sambalpur with pride and purpose under the theme “Societal Impact of B-Schools”, alongside MARMAGYA 11.0, the Annual Business Conclave. https://t.co/i2JTjYaaeU
— IIM Sambalpur (@iim_sambalpur) October 4, 2026
Beginning its journey with just 49 students and a temporary campus in 2015, IIM Sambalpur now has more than 1,500 students and over 175 PhD scholars, Jaiswal said.
At present, the institute offers five MBA programmes and ten degree programmes, including dual-degree PhDs, and has also become the first IIM to offer a bachelor’s degree.
Master weaver programme
Under its master weaver programme, IIM Sambalpur has mentored more than 80 weavers in digital marketing and is working towards developing a “Bunkar Valley” in Sambalpur. It also announced plans to establish a Centre for AI.
Along with Jaiswal, the 12th foundation day of the institute was presided over by Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation (MoSPI), as the chief guest. Several senior district administration officials and industry leaders also attended the event.