Indian Institute of Management, Udaipur (IIMU) has launched a programme called 'Project Maverick' as a part of the summer internship process of 2021. The initiative will provide students with an option to explore the world of start-ups while being part of it.
Over 10 start-ups from digital space participated in the summer placements of IIM Udaipur. About 24 students out of a pool of 36 students have joined them rather than participating in the placements.
IIM Udaipur has set high hopes from Project Maverick, unlocking start-up opportunities for students after the institute completed its summer placements for the 2020-22 batch of the flagship two-year MBA program.
The 'Project Maverick' of IIM Udaipur running parallel to the placements provides an opportunity for students desirous to join start-ups, thereby providing them with a hands-on experience of the start-up ecosystem.
IIM Udaipur’s Project Maverick: Highlights
As per the statistics of IIM Udaipur Placement, the institute had placed the largest batch in its ten-year history for summer placements.
- As many as 322 students got offers with the highest stipend touching INR 3 lakh, up 20 per cent from the previous year.
- Over 100 companies participated among which, 60 were new recruiters.
- Top recruiters included Puma, Samsung R&D, Cisco Systems, Accenture Strategy, Adani Group, AliveCor India, Asian Paints, Casio, Del Monte, Magicbricks, among others.
- While the number of offers from e-commerce players jumped by more than 100 per cent over last year, the institute informed.
IIM Udaipur Director informed that earlier there was much apprehension about the economic situation and the industry's perception of the students as teaching was online due to Covid-19. He also stated that given the pandemic situation during the year 2020, it was a challenging situation to retain the quality of the students.
However, the director expressed satisfaction over the placements and the stipends offered to the students. He stated that the faculties of the institute had put in a lot of efforts to maintain the quality of academics.
The institute, being relatively new, had roped in its alumni to provide mentoring to the students to get ready for the industry.
IIM Udaipur: Benefits to Students from Project Maverick
IIM Udaipur Project Maverick will give an opportunity to all those students who want to work in start-ups. Students under this program will undergo modules on multiple domains such as Understanding customers, Developing brand positioning, Product development, Business strategy & Modelling and Scaling.
Further, the institute will assign two mentors to each student for helping them to deliver more in their field.
The institute has also assigned a minimum stipend amount of 20K for the two months of the summer internship. Companies participating in the program will be required to pay at least 20K to the student who will be selected for the summer internship.
Students who would be hired after the internship under this program will also be assured that they will receive a package of at least INR 13+ LPA. However, students will then not be allowed to sit for any other company if they accept the offer.
"Unlike other institutes, our approach is different. We carefully select the start-ups and do groundwork with them to identify their needs. They have different requirements from large companies, but they provide a better learning opportunity for the students. We are very excited about Project Maverick," said Janat Shah, Director, IIMU. He added, "The results will be seen after the completion of the summers," Shah said.
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