The Indian Institute of Information Technology in Bhagalpur was founded through a public-private partnership and is a joint venture between the Ministry of Human Resources Development, the Government of India (50%), the Government of Bihar (35%), and BELTRON (15%). The institution, one of the IIITs established by a law of Parliament, began operations in 2017. To develop the greatest leaders and resources for the future, the institute was formed with the goals of "Value Creation, Innovative Ideas & Transformational Leadership."