The ICFAI University, Jaipur has been established under the ICFAI University, Jaipur Act, 2011 (Act No. 26 of 2011) passed by legislative Assembly of Rajasthan. The University has been notified under Notification No. F. 2(26) Vidhi/2/2011 dated September 22, 2011. The University is sponsored by The ICFAI Society - a not-for profit educational society established in 1984.