The Vinod Gupta School of Management (VGSOM) in IIT Kharagpur was the first IIT B-school, set up in 1993, with a $2-million endowment from alumnus Vinod Gupta, chairman of the $300-million Info USA.
IIT Bombay had been offering MTechs in fields like industrial management but these were 18-month programmes and not cast in the MBA mould. "We could foresee," says Prof Mangesh Korgaonker, head of the Shailesh J. Mehta School of Management (SJMSOM), "that changes in the business environment were largely technology-driven. The gap between the technical man and the management man had to close." IIT Bombay’s School of Management (the prefix was added in 2000 after a handsome donation from US-based alumnus Shailesh Mehta) started in 1995 to offer a regular two-year management programme. The Department of Management Studies (DMS), IIT Delhi, started in 1997.