The School has been set up as an independent Society by Punjab Technical University (PTU) in 2004. It is the First School of Excellence of PTU and its constituent Unit.

The School has a unique Governing Council, comprising eminent business leaders, entrepreneurs and academicians. It enjoys complete independence and flexibility by the Charter. The Chairman of the Governing Council, Padmashree Chandra Mohan is a rare blend of an engineer-inventor-entrepreneur, and a business leader, par excellence.

Day-to-day management under a professional CEO is another departure. First CEO, Manish Trehan, is a young engineer-MBA (IIM-Ahmedabad) with experience in marketing and consulting who has also been an entrepreneur.