PG Program in Entrepreneurship and Family Business (PGP-EFBM)

Overview

About IILM

We are a leading institution in Business Management Education located at Lodhi Road, New Delhi, with a heritage spanning over 30 years. Established in 1993, IILM has built a strong reputation, evolving from a modest start with 60 students to a prominent
institution offering 180 seats in its flagship Post Graduate Diploma in Management (PGDM), approved by the All India Council for Technical Education (AICTE).

Our institution offers a highly conducive academic environment, featuring interactions with dedicated professors who bring a blend of industry and academic experience. Located near key industry strategists and practitioners in the service and manufacturing sectors, we provide students with valuable exposure to both domestic and international organisations. Our four-semester PGDM programme, which combines classroom learning, co-curricular activities, and guest lectures, ensures that students gain a 360-degree view of management education and are well-prepared to meet the challenges of the business world.

With an extensive alumni network of over 6,000 professionals and collaborations with more than 350 recruiting companies, IILM provides unparalleled industry connections and placement opportunities for our students.

IILM is part of a broader educational ecosystem, with campuses in Gurugram, Greater Noida, Jaipur, and Lucknow offering a variety of courses. This network enhances opportunities for students to engage across disciplines and locations

About EDII

Launched in 1983, EDII is a National Resource Institute in entrepreneurship education, research, training, capacity building, institution building, MSME growth, innovations and incubation. The Institute has been set up with the support of premier financial
institutions, viz; the IDBI Bank Ltd; ICICI Ltd; IFCI Ltd; State Bank of India and with the backing of the Government of Gujarat. EDII stands on the belief that ‘Entrepreneurs are not just born but can also be created by training and well-conceived interventions.’

Over last more than four decades, through strategic PAN India interventions, EDII has successfully established the credibility of entrepreneurship as a development tool. EDII has been recognized as the CENTRE OF EXCELLENCE by the Ministry of Skill Development and Entrepreneurship, Govt. of India. The Institute also undertook the task of institution building by setting up entrepreneurship development centres in several states of the country including the newly set up states/UTs of Goa, Uttarakhand, Chhattisgarh etc. This effort was broad-based internationally too, with the setting up of Entrepreneurship Development Centres in Cambodia, Laos, Myanmar, Vietnam, Uzbekistan and Rwanda.

Institute’s Business Incubation Centre, CrAdLE (Centre for Advancing and Launching Enterprises), set up with the support of Department of Science and Technology, Govt. of India, is focused on incubating start-ups in the potential areas of food/agri business,
renewable energy and healthcare. Today EDII works in a collaborative mode with noted corporates, Government Ministries /Departments and regulatory bodies in implementing mega PAN India projects, with focus on policy advocacy & research;
entrepreneurship education; New Venture Creation; growth of existing enterprises; SME growth & Business Development Services; sustainable livelihoods & global entrepreneurship Development interventions.

Admission Eligibility and Criteria:

The eligibility criteria include graduation in any discipline or an equivalent qualification. People with entrepreneurship experience and/or corporates with minimum 3 years of experience, are also eligible to apply for this programme.
Learners from family businesses and working professionals who want to start the entrepreneurial journey.

Selection process – about entrance exam conducted by EDII followed by PI

Online Application: Applicants should complete the online application form with a nonrefundable admission processing fee of Rs. 1,500/- (Rs. 1,000/- for female candidates & reserved category). The payment should be made online by credit card/debit card/net banking. All communications with regard to admission will be done through electronic mails and therefore the candidates are advised to keep track of their email provided in application form.

Entrepreneurial Aptitude Test & Personal Interview: Applicants must take the Entrepreneurial Aptitude Test (EAT), a psychometric assessment designed to evaluate their entrepreneurial mindset, motivation, and related traits. Additionally, they must attend a Personal Interview (PI), conducted either online or offline.

International immersion program in China & Spain: EDII emphasizes providing students with a global entrepreneurial perspective through its International Immersion Program. It offers opportunities to explore international entrepreneurial ecosystems in China & Spain.

For the Spain immersion, EDII has collaborated with INSA Business, Marketing & Communication School in Barcelona to provide participants with access to global mentors, workshops, and networking opportunities. For the China immersion, EDII provides an opportunity of 10-days visit to attend the Canton Fair in China. Through these programs, students engage with peers from diverse cultural backgrounds, gain exposure to global best practices, and study innovative business models.

These experiences not only broaden their horizons and foster global competencies but also equip them with the knowledge and insights to expand their family businesses globally or effectively internationalize their entrepreneurial ideas. While these enriching opportunities are tailored to ensure meaningful exposure, students are expected to bear the associated expenses

Seed fund scheme for startups

EDII provides small financial assistance for enabling deserving students in initiating/starting own ventures. Such support will be given to students who have feasible, viable, and impactful projects and who have progressed in implementing the project besides fulfilling other eligibility criteria. Preference will be given to women students and first-generation entrepreneurs. Some of the funds are: Startup India Seed Fund Scheme (SISFS), MSME Fund, Ambedkar Social Innovation Incubation Mission (ASIIM), Institution’s Innovation Council (IIC), YUKTI, Angel & Other Investments/VC.

Faculty:

Expert faculties from IILM and EDII have niche specialization in their own respective fields and are a blend of prominent academicians, researchers, entrepreneurs, consultants and practitioners.

The course will be delivered by experienced and renowned faculty members of IILM and EDII. Industry entrepreneurs, Startup founders will be regularly invited to interact with all the participants.

Program Uniqueness:

Jointly offered by IILM and EDII Ahmedabad providing potential access to expertise and network.
Focus on both entrepreneurship and family business management.
Inclusion of an internship for practical experience.
Elective pathways allow for specialization.
Renowned faculty and Industry experts: The course will be delivered by experienced and renowned faculty from IILM and EDII. Industry entrepreneurs, Startup founders will be regularly invited to interact
Experiential Learning focus: using case studies, simulations, guest lectures from successful entrepreneurs and family business leaders, and live projects with family businesses.
Mentorship Program: Participants in small groups will be paired with experienced entrepreneurs or family business owners for guidance and support.
Practical Skills acquisition: We would endeavour to ingrain practical skills such as financial modelling, business plan development, negotiation, and communication and technology adoption.
Participants will be studying first term at IILM and the second term at EDII campus during the program duration and get a feel of two world-class campuses.

Batch Size: 50 (one batch starting in Sept and another in Feb)
Fees: 5.5 lakhs + GST (if applicable)

Scholarship

Financial support is available to ensure that there are no deterrents for deserving participants. These include:

Merit-based Scholarship
10% Tuition Fees Waiver (TFW) Scheme
Special Scholarships for female participants

Program Objectives:

To equip participants with the knowledge, skills, and mindset necessary to successfully launch and manage new ventures, or to lead and grow existing family businesses.
To develop entrepreneurial leadership capabilities, including strategic thinking, innovation, problem-solving, and decision-making.
To provide a comprehensive understanding of the unique challenges and opportunities associated with family businesses, including governance, succession planning, and intergenerational wealth transfer.
To foster a strong network of peers, mentors, and industry professionals in the entrepreneurship and family business ecosystem.
To instil a sense of ethical and social responsibility in business practices.

Specific Learning Outcomes:

Knowledge & Understanding:

- Understand core business principles across functional areas like finance, marketing, operations, and strategy.
- Grasp the specific dynamics and complexities of family businesses, including family systems, ownership structures, and intergenerational relationships.
- Learn about various entrepreneurial pathways, from bootstrapping startups to scaling established businesses.
- Gain knowledge of different business models, innovation processes, and technology trends.
- Understand the legal and regulatory environment relevant to startups and family businesses.
- Develop an understanding of financial management, including raising capital, managing cash flow, and financial reporting.

Skills & Abilities:

- - Develop the ability to identify and evaluate business opportunities.
  - Create and implement a comprehensive business plan.
  - Master the skills needed to manage and grow a business, including marketing, sales, operations, and human resources.
  - Learn to lead and motivate teams, build strong relationships, and communicate effectively.
  - Develop problem-solving and decision-making skills in complex and ambiguous situations.
  - Acquire negotiation and conflict resolution skills, particularly relevant in family business contexts.
  - Learn how to manage innovation and drive growth in a dynamic business environment.
  - Develop financial literacy and the ability to analyze financial statements.
  - Acquire skills in using data analytics for business decision-making.

Mindset & Attitudes:

- - Cultivate an entrepreneurial mindset characterized by proactiveness, resilience, and a willingness to take calculated risks.
  - Develop a strong work ethic, a commitment to excellence, and a passion for creating value.
  - Foster a sense of ethical and social responsibility in business practices.
  - Develop an appreciation for the importance of family values and legacy in family businesses.
  - Build confidence in their ability to lead and manage businesses effectively.
  - Develop a growth mindset and a commitment to continuous learning.

Career Outcomes:

- - Launch and manage their own startups.
  - Lead and grow their family businesses.
  - Secure leadership positions in established companies.
  - Work as consultants or advisors in the entrepreneurship and family business domain.
  - Contribute to the development of the entrepreneurial ecosystem.

For Family Business Specific Outcomes:

- - Understand the history and evolution of their family business.
  - Learn about the roles and responsibilities of family members in the business.
  - Develop skills in family governance, including creating a family constitution and managing family meetings.
  - Understand the process of succession planning and how to ensure a smooth transition of leadership.
  - Learn about the importance of aligning family values with business strategy.
  - Develop skills in managing intergenerational relationships and resolving conflicts within the family business.

Advisory committee members:

1. Mr. Jaimin Vasa:

Dr. Jaimin Vasa is a Chairman & Managing Director of Vasa Pharmachem Pvt Ltd. – a Flagship Company of Vasa Group of Companies manufacturing various pharmaceutical raw materials like Excipients, Active Pharma Ingredients, Personal Healthcare, and Neutraceuticals, etc. He has earned his Ph.D. in Management in the year 2016. He is the author of the book “Competitive Strategies for Indian SMEs – Lessons from China”. Dr. Jaimin Vasa has Chaired and delivered Keynote addresses and lectures in a number of national and international seminars and conferences on different platforms.

2. Dr. Arun Kumar Gopalaswamy:

Dr. Arun Kumar Gopalaswamy is a Professor of Finance & Accounting in the Department of Management Studies at IIT Madras. He holds a Ph.D. from IISc Bangalore and has published around 50 research papers, many of which are Scopus-indexed and ABDC-ranked. His research interests include Corporate Governance, Start-up Valuation, and Development Finance. His work has been presented at more than 35 national and international conferences.

He has co-authored books such as Management Accounting with Prof. Robert Kaplan (Harvard Business School) and Prof. Atkinson (University of Waterloo). A certified social impact assessment practitioner, Dr.Arun Kumar provides consultancy on corporate restructuring, infrastructure projects, and evidence-based impact assessments for global agencies, including the UK’s Department for International Development (DFID).

Previously, he served as a full-time faculty member at the Asian Institute of Technology (AIT), Thailand, where he taught and advised DBA and Ph.D. students. His areas of expertise span Financial and Management Accounting, Corporate Finance, Investment Banking, M&A, and Corporate Governance.

Renowned for his teaching excellence, he was the inaugural recipient of IIT Madras’ “Best Teacher” award. He has also served on the academic councils of various universities. As Head of the Department of Management Studies at IIT Madras (2019–2022), he led the department to be ranked among India’s top 10 business schools.

A former professional at Moody’s Credit Rating and Bennett Coleman, Dr.Arun Kumar currently serves as an Independent Director for a large EPC firm and an international NGO.

3. B.S. Pai Angle

B. S. Pai Angle is a seasoned professional with over 30 years of experience in guiding, supporting, and financing Micro, Small, and Medium Enterprises (MSMEs) in Goa. He currently serves as the Managing Director of EDC Ltd., a Goa State Government financial institution. Under his leadership, EDC Ltd. has seen a remarkable transformation—its net worth improved from a negative ₹40 crore to ₹800 crore, following a strategic reinvention of its business model in 2006–07.

Mr. Pai Angle played a key role in the establishment of the Goa State Infrastructure Development Corporation (GSIDC) in 2001–02, which was instrumental in enabling timely and cost-effective execution of infrastructure projects across the state.

Throughout his career, he has held several prominent leadership positions. He successfully managed the Goa Tool Room Training Centre, spearheaded the revival of Goa Financial & Leasing Services Ltd., and contributed to the successful merger of Goa Antibiotics & Pharmaceuticals Ltd. with HLL LifeCare Ltd.

With a strong educational background in engineering and business management, and professional experience with reputed companies such as Kirloskar, the Tata Group, and Honda, Mr. Pai Angle has made significant contributions to Goa’s economic and infrastructure development.

4. Mr. Vinod Agrawal

Vinod Agrawal, Managing Director of Arunaya Organics and Chinmay Chemicals, is an enterprising Indian entrepreneur in the chemical industry. An MBA graduate from EDII, he brings with him over a decade of international experience, having lived and worked in China for 10 years.

Mr. Vinod’s journey—both academic and professional—has been marked by several awards and recognitions. Under his dynamic leadership, his companies have earned a reputation for excellence and consistent growth.

He has represented the Indian Dyestuffs Industry at various national and international conferences and forums. Notably, he is the Immediate Past Chairman of CII, Gujarat, and a Member of the Board of Studies at St. Xavier’s College, Ahmedabad. He is also actively involved with the i-Hub initiative for nurturing the startup ecosystem and is a part of the Seed Fund Committee of i-Hub, Government of Gujarat.

Mr. Vinod has held the position of General Secretary of the Indian Association in China and was part of the host team during the visit of Hon. Shri Narendra Modi to China. His contributions to international relations include being a delegate with the President of India’s official visits to Spain and Poland in 2008 and to China in 2016. He also represented India in the Vibrant Gujarat Delegation to Singapore, Hong Kong, and China in 2015 and to the USA in 2022.

Successful Family Business Alumni Testimonials:

Palash-Shah Mr. Palash Shah (Company name: SWPL Siddhachakra Weaving Pvt Ltd.)
EDII has been instrumental in elevating my business to new heights. Initially, we were solely involved in trading clothes, but with EDII’s support, we successfully obtained subsidies and leveraged backward integration, enabling us to expand into manufacturing. Today, we produce 4 lakh meters of fabric per month and supply to 250 MNCs and corporate clients.
The international visits to Amsterdam and China, facilitated by EDII, provided invaluable exposure to global markets. These experiences allowed me to connect with renowned international designers and gain deeper insights into industry trends. Additionally, visits to industries and exhibitions further enriched my practical knowledge, equipping me with the expertise to scale my business effectively. Moreover, EDII’s expert faculty and visiting consultants guided us in modernizing our marketing strategies, shifting from traditional methods to innovative, concept-driven approaches. This mentorship helped us develop our products with a thematic and conceptual focus, enhancing our brand identity and market positioning.

Malav-Sharedalal Mr. Malav Sharedalal (Company name: PravinRatilal Share And Stock Brokers Ltd)
EDII played a pivotal role in unlocking my true potential and expanding my entrepreneurial vision. With its guidance, I successfully established three key verticals within my family business: Mutual Funds Distribution, Securities Lending & Borrowing (SLB), and Margin Trading Facility (MTF). The insights and expertise gained at EDII empowered me to navigate market complexities, mitigate risks, and make strategic, growth-oriented decisions. Our commitment to excellence was recently recognized with the prestigious ‘Best Performer in Non-Competitive Bidding (G-Sec, T-Bills, SDL) award—one of the highest honors in this category in India. Beyond refining my business acumen, EDII has instilled in me the confidence to innovate, adapt, and build a legacy of success.

Course Structure

This PG program is jointly offered by IILM and Entrepreneurship Development Institute (EDII), Ahmedabad, for an aspiring leader within a family business or an entrepreneurial-minded individual looking to create and develop new ventures. The programme intends to equip participants with the necessary skills to start a venture or take the family business to the next level in today’s volatile, complex, and disruptive business environment.

Duration: 11-months

The program is divided into three terms with two months of immersion for family business, new enterprise/ start-ups.

Term -1 (Sept-Nov)

Economics environment for business (Macro Micro and competitiveness)
The entrepreneurial Mindset
Small Business Management 1 Market and HR
Management, leadership and Organizational Behaviours
Operations
Basics of finance, fundraising

Term 2 (Feb-March)

Manifestation of Entrepreneurship
Design Thinking and Innovation
Emerging Technology, (including AI for entrepreneurship, SMAC, IOT Etc)
Data for decision-making (including Product costing and pricing
Managing business growth divesture and exit
Small Business Management 2 Accounting and Technology (including ERP)

The first two terms will include foundation courses in management, family business, and entrepreneurship. This will be followed by a two-month internship, and the electives will be offered in the final term. There are five pathways: