[citation needed] This idea was recognized by the Department of Science and Technology, Government of India, which spread the concept to other institutes such as IITs, under the concept name Science and Technological Entrepreneurs Park (STEP).

For financial support, BIT set up the SIDBI Centre for Innovation and Incubation (SCII) by an arrangement with Small Industries Development Bank of India (SIDBI) to provide funds for a limited period of time to select new entrepreneurs, start up companies, and technology based organisations.

[10][11][12][13][14] BIT functions under the control of a Board of Governors, comprising representatives of the Ministry of Human Resource Development, Government of India, the UGC, the State Government, the Chancellor, the A.I.C.T.E., the Hindustan Charity Trust and the Institute Faculty.

The Technical Council headed by vice chancellor decides the academic policy of the institute.

[15] BIT Mesra has the following departments[16] The University Polytechnic was established in 2001, as a joint venture of the Department of Welfare, Government of Jharkhand and BIT, Mesra, to impart Diploma level technical education amongst the youths of Jharkhand.

The institute came into existence by Public-Private Partnership (PPP) mode under flagship management of BIT Mesra.

The Chief Minister of Bihar Nitish Kumar, laid the foundation stone of the institute in December 2005.

Among engineering colleges, Birla Institute of Technology, Mesra ranked 16th by India Today in National Institutional Ranking Framework and fourth among private engineering colleges by Outlook India in 2024.