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Sambalpur, 3 October 2026: The Indian Institute of Management Sambalpur celebrated its 12th Foundation Day on Saturday and opened the 11th edition of Marmagya, its Annual Business Conclave, at the institute’s campus in Sambalpur. The Foundation Day was observed on the theme “Societal Impact of B-Schools”, while Marmagya 11.0, being held on 3 and 4 October, focuses on “Thriving on Business Disruption and Turbulence in an Interconnected World.” The programme was chaired by Prof Mahadeo Jaiswal, Director, IIM Sambalpur. Dr Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation (MoSPI), Government of India, attended as the Chief Guest.
Shri Siddheshwar Baliram Bondar, District Magistrate and Collector, Sambalpur; Shri Charan Singh Meena, IPS, DIG (Northern Range), Sambalpur; and Shri Mukesh Kumar Bhamroo, IPS, Superintendent of Police, Sambalpur, were the Guests of Honour. Industry was represented by Ms Meenakshi Patil, Application Operations Practice Leader, IBM Australia; Mr Pancham Taneja, Country Head, Delta Capita India; and Dr Bhabatosh Mishra, Director & COO, Niva Bupa Health Insurance, along with 21 industry leaders from organisations including NRI FT India, Marsh McLennan, Smart IQ, Emami Ltd and Radisson Blu.
Eleven Years, Eleven Milestones
In his address, Prof Jaiswal took the audience through 11 milestones that the institute has achieved during its 11-year journey. IIM Sambalpur now runs five MBA programmes and 10 degree programmes in all, including dual-degree PhD programmes. The institute has also become the first IIM to offer a Bachelor’s degree. Its student strength has crossed 1,500, with more than 175 PhD scholars on its rolls.
Prof Jaiswal spoke at length about the Master Weaver Programme, which IIM Sambalpur launched as the first community-led project by a business school in the country. More than 70–80 weavers have been mentored as entrepreneurs on digital marketing platforms so far. The institute is also working with the weaving community to develop a “Bunkar Valley” in and around Sambalpur, which is known for its handloom tradition.
On entrepreneurship, the Director said that the institute has incubated 35 start-ups to date. Nine of these received seed funding worth ₹40 lakh at the event. He also referred to the Centre for Responsible Business, which is already operational, and announced that IIM Sambalpur will shortly establish a Centre for AI, described by the institute as the first such centre at any IIM.
The institute has also been recognised as a pioneer of AI-led teaching, where lectures are delivered entirely by AI without human intervention.
“When we started in 2015, we had 49 students and a temporary campus. Today we have more than 1,500 students, a weaving community that is finding new markets, and young founders building companies out of this campus. But the numbers matter less than what they represent. A business school in Sambalpur has to answer to Sambalpur, and to the country, not only to the placement table,” Prof Jaiswal said.
Addressing students directly, he added:
“The world you will step into is turbulent and deeply interconnected. What happens in one market reaches you overnight. You will not always have complete information, and you should not wait for it. Learn about what you do not know, learn to decide under uncertainty, and you will be able to manage whatever comes your way.”
Chief Guest Calls for Designing for the Most Vulnerable First
In his keynote address, Dr Saurabh Garg appreciated the campus and its achievements. He said that policy and business alike must be designed for everyone, particularly for the most vulnerable, because they are often the first to experience the impact of disruption or shocks. He stressed that inclusive development depends on accurately measuring interventions so that decision-makers can determine who is actually being reached.
“Whenever there is a shock, whether it is a pandemic, a price spike or a climate event, it is the poorest household that feels it first and recovers from it last. If we design for them, we end up designing for everyone. And if we do not measure who is being reached, we are only guessing. Good data is what turns good intentions into real outcomes,” Dr Garg said.
He closed his address on an optimistic note for the graduating classes.
“It is a great time to be young, and an even better time to be young in India. The opportunities in front of you are enormous. Choose the ones that create social impact, and stay adaptive, because change is the only constant you can count on. Those who learn to ride it will shape the next few decades,” he said.
Achievers and Founders Felicitated
The Foundation Day ceremony also recognised the institute’s top performers. Ten students from the BS 2025–29 batch and 16 students from the MBA 2025–27 batch were presented with plaques and prize money of ₹1 lakh. In the start-up ecosystem, nine start-ups incubated under the IIM Sambalpur I-Hub Foundation received seed grants of ₹5 lakh each. In addition, four new alumni-led start-ups signed incubation MoUs with the institute.
Marmagya 11.0 Opens With Workforce-Focused Panel
The day’s proceedings began with the first Marmagya panel, titled “Building a Workforce That Can Adapt, Reskill and Lead Through Disruption.”
Over the two days, the conclave will host discussions on rebuilding operations in response to supply, energy and infrastructure shocks; funding India’s growth while maintaining financial discipline; low-carbon industrial growth; and scaling Indian talent and enterprises for global markets. The theme of Marmagya 11.0 was introduced by Prof Padmavathy Dhillon, Chairperson, Marmagya. The Foundation Day ceremony concluded with a vote of thanks by Shri Amrut P. Mohanty, Chief Administrative Officer, IIM Sambalpur, followed by the National Song and National Anthem.
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