Visakhapatnam: Marking a significant milestone in its journey of fostering entrepreneurial leadership and academic excellence, Indian Institute of Management Visakhapatnam (IIMV) celebrated its 11th Foundation Day here on Friday.

Dr Samir V Kamat, secretary to the Government of India, department of defence R&D and chairman of the Defence Research and Development Organisation (DRDO) attended as the chief guest, and Malavika R Harita, member of the board of governors, IIMV and IIM Bangalore, as the guest of honour.

Prof M Chandrasekhar, director of IIMV, highlighted remarkable milestones the institute has achieved over the past decade. The Institute has become a nurturing ground for future leaders capable of contributing to the private, public, and social sectors as professional managers, entrepreneurs, and stewards of emerging enterprises, the director mentioned.

In his address on ‘Defence R&D: The Road Ahead’, Dr Kamat underscored the vital synergy among academia (basic research), DRDO (applied research, technology and product development), and industry (production). He highlighted the pivotal role of technology transfer and collaboration with industry in driving the development process.

Stressing the need for risk-taking and embracing lessons from failures, Dr. Kamat aligned his insights with Prime Minister Narendra Modi’s vision of Atmanirbhar Bharat, emphasising self-reliance as a cornerstone for India’s technological advancement.

The Institute serves the learning aspirations of over 3,000 individuals annually from around the globe through its on-campus, online, and hybrid-mode programmes. In recognition of their outstanding academic performance, Dr Kamat presented grants to eight PGP students. Additionally, awards were given to students, faculty, and staff for their achievements in sports.