ITM's genesis resulted from the educational vision of the Hira Charitable Trust. Hira Charitable Trust was established with a deep-rooted goal of providing the utmost efficient education to the Mayyil and nearby natives and peripherals. The education facilities were relatively less in this region mainly because of insufficient institutions in this area. Educational institutions are always beacons of progress. Having realized this, many philanthropists in this area joined hands and formed a trust called the Hira Charitable Trust (HCT) with a vision to extend better educational facilities to the general public and particularly to the weak and marginalized sections.
It was the vision of trust members to start a management institution at Mayyil, and accordingly, the first institution named as Institute of Technology Mayyil, Kannur was established in the year 2001 in a lush green and picturesque campus. This institute initially was set up for imparting MBA & MSc courses at Kannur University. Govt. of Kerala recognized this institution in 2002 and based on this, approval has been obtained from AICTE to run MBA & MSc Computer courses. These courses are also affiliated with Kannur University. Due to some technical reasons, the college has not offered MSc courses since 2004. The MBA courses started in 2002 and since then 20 batches have already been passed out from this institution.
To cater to the requirements of the students of this area, Trust started the Degree College in 2004 on the campus adjacent to MBA College. The Trust is also running a public School with a CBSE syllabus. In fact, the trust started the English medium Public School first and then set up other educational institutions. Besides educational institutions, the Trust has also taken up several human and philanthropist schemes for the betterment of the weak and marginalized sections of this area. Educational loans, educational endowments, free education, distribution of educational materials to the needy etc, are some of the areas where the Trust is giving thrust. There were only limited members when the Trust was formed in 2001. Today there are 48 members and an executive council having 15 members Sri. MPA Rahim. a young dynamic political leader was the former chairman of the Trust. After the expiry of the term.Sri. K.T. Sharafuddin took over the charge. In 2013 Sri. Muneer K.K. became the new chairman of the Trust being an educationalist, he is always concerned about the further progress of the college in the campus.
ITM Business School was established in the year 2002 to fulfil a keenly felt need to provide management education that meets global standards. To meet the growing demand for world class management education in Kerala and to bring in more flexibility to design a programme relevant to the business context.