Master of Business Administration [MBA] (Innovation, Entrepreneurship and Venture Development)

The MBA in Innovation, Entrepreneurship and Venture Development (IEV) at the Institute of Chemical Technology (ICT), Mumbai is a unique 2-year full-time postgraduate programme designed to bridge the gap between technology and business. Offered under Programme Code MBA IEVD, the course carries a total fee of approximately ₹6,00,000 (₹3,00,000 per year) and admits 20 students per batch (increased from 18 in 2026-27). The primary entrance exam accepted is MAH-MBA CET, and the programme is exclusively offered at the Mumbai campus in full-time, on-campus mode. Tailored for engineering and technology graduates, this programme is popular for its strong industry connect, ICT's legacy of entrepreneurship (500+ first-generation entrepreneurs), and its focus on building innovation-driven business leaders from a science and technology background.

Admissions for the 2026-27 batch are upcoming. Based on the 2026-27 cycle, online applications opened in May 2026 with an extended deadline in late May/early June 2026, and counselling was held in August 2026. For 2026-27, applications are expected to open from May 8, 2026 onwards as per the ICT admission portal.

Key Points

• One of the very few MBA programmes in India offered by a premier technology institute (Category I Deemed University), specifically designed for engineering graduates.
• The programme is coordinated by Prof. H.S. Joglekar, Professor of Entrepreneurship under the Dr. K.H. Gharda Endowment, bringing deep industry and entrepreneurship expertise.
• ICT has produced over 500 first-generation entrepreneurs, and this MBA is designed to continue that legacy by equipping students with business, innovation, and venture creation skills.
• The programme accepts MAH-MBA CET as well as GMAT or equivalent scores, making it accessible to candidates with diverse profiles.
• Intake is limited to 20 seats, ensuring a highly personalised learning experience with close faculty-student interaction.
• Students benefit from ICT's extensive industry network, including MOUs with multinationals such as Unilever, Reliance, Pepsico, and leading chemical and pharma companies.

ICT Mumbai MBA IEV Fees

Fee Structure

• The total fees payable for all categories (Open and all Reserved Categories) is Rs.
• 3,00,000 for the first year, as per the official ICT counselling notice for 2026-27.
• Year 2 fees are indicative and subject to revision by the State Government.
• Library Deposit of Rs.
• 5,000 (one-time, refundable on successful completion of the programme or cancellation of admission, subject to producing original receipt) is charged separately.
• Hostel fees are not mandatory and are charged separately based on availability.
• Hostel accommodation charges range from Rs.
• 16,555 to Rs.
• 22,605 per year depending on the hostel block and room type, plus common charges of Rs.
• 5,000 per year (Sports and Cultural: Rs.
• 3,000 + Other charges: Rs.
• 2,000).
• Mess charges are approximately Rs.
• 1,800 per month (on a no-profit-no-loss basis).
• Fees are to be paid by Demand Draft in favour of "Institute of Chemical Technology, Mumbai", payable at Mumbai.
• Online payment facility may also be available.
• Refund of fees on cancellation of admission is as per UGC norms: 100% refund if withdrawal is 15 or more days before the last date of admission; 90% if less than 15 days before; 80% if within 15 days after; 50% if within 30 days after; 0% if more than 30 days after the last date of admission (Library Deposit is refundable separately).
• Reserved category candidates (SC/ST/OBC/VJNT/SBC) from Maharashtra may be eligible for fee reimbursement/scholarship from the Government of Maharashtra, subject to eligibility conditions.

ICT Mumbai MBA IEV Admission 2026

ICT Mumbai MBA IEV Admission Schedule (2026-27)

MAH-MBA CET 2026 Exam Dates (Mandatory Entrance Exam)

• ICT Mumbai conducts its own counselling and admission rounds separately from the MAH-MBA CAP (Centralized Admission Process).
• Candidates must apply directly to ICT Mumbai after qualifying MAH-MBA CET 2026.
• GMAT or equivalent scores are also accepted.

The dates mentioned above are tentative and subject to change.

Eligibility Criteria

• Graduation in Engineering or Technology streams (B.E./B.Tech. or equivalent) from a UGC/AICTE recognised university with a minimum of 60% marks in aggregate (55% for backward class candidates from Maharashtra).
• Valid MAH-MBA CET 2026 score / GMAT or equivalent score is mandatory.
• Candidates appearing in the final semester of their qualifying degree may apply provisionally, subject to meeting the eligibility criteria upon declaration of results.

Admission Process

• Register and apply online at https://ictmumbaiadm.samarth.edu.in/ within the stipulated deadline.
• Submit valid MAH-MBA CET 2026 / GMAT score card along with all required documents.
• Attend the ICT Mumbai Counselling and Admission Round (held at ICT campus, Matunga, Mumbai) as per the schedule announced on the ICT website.
• Seat allotment is based on inter-se merit from valid entrance exam scores.
• Confirm admission by paying the first-year fee of Rs. 3,00,000 by Demand Draft at the time of counselling.
• Reserved category candidates must submit valid Caste Certificate and Caste/Tribe Validity Certificate at the time of admission.

ICT Mumbai MBA IEV Scholarships 2026

Scholarship Details

• Reserved category students who are receiving any fellowship (e.g., GATE fellowship) are not entitled to Government of Maharashtra freeship/scholarship simultaneously, as per State Government directives.
• All scholarship applications for government schemes must be submitted through the MahaDBT portal (mahadbt.maharashtra.gov.in) within the prescribed deadlines each academic year.
• Scholarship amounts and conditions are subject to revision by the respective government authorities.
• Candidates are advised to check the ICT scholarship notice board and website (www.ictmumbai.edu.in) for updated scholarship notifications each year.

• 40 out of 100 under IIRF Management Ranking 2025.

Read more on ICT Mumbai Rankings here

ICT Mumbai MBA IEV FAQs

Ques. Is the ICT Mumbai MBA IEV programme only for engineering graduates, or can commerce/science graduates also apply?

Ans. The MBA IEV programme at ICT Mumbai is specifically designed for graduates in Engineering or Technology streams. As per the official eligibility criteria in the 2026-27 Admission Handbook, the qualifying degree must be a Bachelor's in Engineering/Technology (B.E./B.Tech. or equivalent). Commerce, arts, or pure science graduates are not eligible for this programme. This is a deliberate design choice, as the programme aims to build business and entrepreneurship skills on top of a strong technical foundation, enabling graduates to commercialise technology and lead innovation-driven ventures.

Ques. What is the difference between ICT Mumbai's MBA IEV and a regular MBA from a business school? Is the degree valued by recruiters?

Ans. The MBA IEV at ICT is fundamentally different from a conventional MBA. It is offered by a premier technology institute (Category I Deemed University, NAAC A++ with CGPA 3.77/4.00) and is specifically tailored for technology entrepreneurs and innovators. The curriculum integrates business management with innovation, venture development, and technology commercialisation. While it is a relatively new programme (started in 2024), ICT's strong brand, industry connect, and alumni network (500+ first-generation entrepreneurs) lend significant credibility. Recruiters from the chemical, pharma, and technology sectors value ICT graduates highly. However, candidates seeking a traditional MBA with a broad corporate placement focus may find a conventional B-school more suitable.

Ques. The intake is only 20 seats. How competitive is the admission process, and what MAH-MBA CET score is typically required?

Ans. With only 20 seats, the MBA IEV programme is highly selective. Admission is based on inter-se merit from valid MAH-MBA CET / GMAT scores, with no separate written test or interview conducted by ICT. Since the programme is new (first batch in 2024), historical cutoff data is limited. However, given the niche profile of the programme (engineering graduates only) and the small intake, competition is expected to be moderate among eligible candidates. A good MAH-MBA CET percentile (typically 80+ percentile is advisable) would strengthen your application. Candidates are advised to monitor the ICT website for any updates on the selection process.

Ques. Is hostel accommodation guaranteed for MBA IEV students at ICT Mumbai?

Ans. Hostel accommodation at ICT Mumbai is not guaranteed and is subject to availability. The total hostel capacity on campus is approximately 900 seats across all courses and years, with about 200 seats available for fresh admissions each year. Priority is given to outstation students (from beyond Virar, Titwala, Ambarnath, and Panvel limits). MBA IEV students can apply for hostel accommodation through the Hostel Office (Ground Floor, Hostel No. 5) after securing admission. It is strongly advised to contact the hostel office (hostel@staff.ictmumbai.edu.in, Tel: 91-22-33611452) early to check availability. Students not getting hostel accommodation will need to arrange private accommodation in the Matunga/Dadar area of Mumbai.

Ques. Can I apply for the MBA IEV programme if I have a gap year after my engineering degree? Are there any restrictions on work experience?

Ans. There is no specific restriction on gap years or work experience mentioned in the ICT admission handbook for the MBA IEV programme. Candidates with a gap year are required to submit a Gap Certificate along with their application. Work experience is not mandatory but would be a positive factor. The programme is open to both fresh engineering graduates and those with work experience. Candidates must ensure they have a valid MAH-MBA CET 2026 or GMAT score at the time of application. Any gap period must be satisfactorily explained through supporting documents at the time of admission.

Ques. What are the career prospects after completing the MBA IEV from ICT Mumbai? Are there dedicated placements for this programme?

Ans. The MBA IEV programme is designed to produce innovation leaders, technology entrepreneurs, and venture developers rather than traditional corporate managers. Career paths include launching technology startups, joining innovation and R&D management roles in chemical, pharma, and manufacturing companies, or pursuing venture capital and consulting roles in the technology sector. ICT Mumbai has a Central Placement Cell (ictplacement@ictmumbai.edu.in) that facilitates placements across all programmes. Given that the programme is new (first batch graduated in 2026), dedicated placement statistics specific to MBA IEV are not yet publicly available. However, ICT's strong industry network with companies like Reliance, Unilever, BASF, and leading pharma firms provides a solid foundation for placement opportunities.