Instituted in the year 1995 jointly by AAAI and Dattaram Advertising, the awards consist of trophies and cash prize for the best students of the STACA sponsored programme, now re-christened as Ad Council of India programme, at Narsee Monjee Institute of Management Studies, a Deemed University.

The function, organized by the NMIMS team under the guidance of the vice chancellor N M Kondap, was presided over by NMIMS Board of Management Chairman Dinesh Patel and the convocation address was delivered by ICICI Bank managing director and CEO K V Kamath.