Lucknow, Oct 28: Indian Institute of Management Lucknow calls for applications for its newly launched MBA in Family Business, designed for owners of established family businesses and next-generation family business leaders. This two-year program aims to equip participants with the managerial capabilities, strategic insights and leadership skills required to strengthen, transform and grow their family businesses across generations.
The program combines core management disciplines with specialised learning in family business strategy, governance and succession. It also prepares participants to navigate a changing business environment by embracing innovation, digital transformation and new avenues for growth and diversification. Its modular on-campus format, with approximately seven days of classes each month, enables participants to balance academic learning with their business responsibilities.
Phase 1 of the admission process began on 16th October 2026, and the deadline for submitting completed applications is 31st December 2026. Interested candidates are encouraged to apply early and check the eligibility criteria. Interested candidates can apply directly through this link.
For any queries, applicants can contact the Admission Office at admissionnc@iiml.ac.in.
Highlighting the program’s distinctive approach, Prof. Garima Mittal, Chairperson, MBA in Family Business, IIM Lucknow, said,
“Family businesses must build on their legacy while preparing for the future. Our programme enables participants to apply management learning to their own enterprises, address real business challenges and develop strategies for growth and transformation. With support from IIM Lucknow’s Enterprise Incubation Centre (EIC), participants can also explore innovation and new venture opportunities, helping their family businesses remain competitive and thrive across generations.”
The program will connect classroom education with practical business applications. A distinctive feature of the program is its Family Business Labs, which run throughout the two years. In these virtual labs, participants work on their own family enterprises as live cases, addressing challenges such as business strategy, succession, innovation and new venture development. The Labs culminate in an actionable five- to ten-year Business Transformation and Growth Plan, developed with faculty guidance and industry mentorship.
To apply for the MBA in Family Business program, candidates must meet the following eligibility criteria:
ØA bachelor's degree or equivalent professional qualification (CA/CS/ICWA) awarded by a recognised university/institution in India or abroad.
ØMinimum 50% aggregate marks or equivalent CGPA in Class 10, Class 12 and the undergraduate degree.
ØA minimum of 15 years of formal education (10+2+3 or 10+2+4 system).
ØMust be an owner or scion of a family business/enterprise with a minimum annual turnover of at least Rs. 20 crore.
ØA valid GMAT/GRE score or a score from IIM Lucknow's entrance examination.
Admission process
Candidate shortlisting will be based on standardised test scores. The shortlisted candidates will be invited for a personal interview. Further information on the admission process can be found at the following link: https://www.iiml.ac.in/mbafb.