Thursday, December 1, 2022
HomeInsightNews & UpdateIIT Madras fundraising soars to all-time high of Rs 131 cr in...

IIT Madras fundraising soars to all-time high of Rs 131 cr in 2021-22

IIT Madras fundraising soars to all-time high of Rs 131 cr in 2021-22
IIT Madras

The Indian Institute of Technology (IIT), Madras has raised the largest ever fund of Rs 131 crore from alumni, donors and corporate firms to pursue its philanthropic and socially relevant projects during the financial year 2021-22, the official said.

They added that the institute aims to accelerate fundraising by strengthening the alumni network and engaging with corporates, philanthropists and high-net-worth individuals.

These Fundraising activities are led by the Office of Alumni and Corporate Relations, which includes a dedicated team of professionals who work with corporate firms, alumni and donors.

‘’Despite the COVID-19 pandemic, the fundraising from alumni, donors and corporate firms has been increasing by over 30 percent year-on-year. The number of corporate firms donating funds to IIT Madras through CSR has almost doubled in the last five years. Fundraising from Corporate Social Responsibility (CSR) partnerships accounts for nearly half of the total Rs 131 crore raised in last financial year,’’ said, Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras.

‘’We are grateful to all the alumni and corporate partners who have helped us through impactful contributions. IIT Madras is fortunate to have thousands of alumni invest both time and money to grow the institute. This group is crucial to the institute’s future development,’’ he added.

These funds raised to support infrastructure development, scholarships, chair professorships, research and initiatives have been particularly important to mitigate the COVID-19 pandemic.

During the COVID pandemic, the institute collected over Rs 15 crore globally from IIT Madras alumni for COVID-19 relief projects, providing essential medical equipment such as BiPAP and oxygen concentrators to the governments of Tamil Nadu, Karnataka and Telangana.

‘’We have a professional donor stewardship team to ensure that all our projects are managed effectively. All donors want to ensure that their money is utilised in a transparent and impactful way, providing scalable solutions. And we meet all their requirements,’’ said, Kaviraj Nair, Chief Executive Officer, Office of Institutional Advancement, IIT Madras.

‘’We also have entirely volunteer-driven alumni chapters across the world, with alumni who are passionate about supporting their alma mater in its pursuit of world-class research creating a global impact,’’ he added.

About IIT Madras

Indian Institute of Technology Madras is one among the foremost institutes of national importance in higher technological education, basic and applied research. In 1956, the German Government offered technical assistance for establishing an institute of higher education in engineering in India. The first Indo-German agreement in Bonn, West Germany for the establishment of the Indian Institute of Technology at Madras was signed in 1959. The Institute was formally inaugurated in 1959 by Prof. Humayun Kabir, Union Minister for Scientific Research and Cultural Affairs.

The Institute has sixteen academic departments and a few advanced research centres in various disciplines of engineering and pure sciences, with nearly 100 laboratories organised in a unique pattern of functioning. A faculty of International repute, a brilliant student community, excellent technical & supporting staff and an effective administration have all contributed to the pre-eminent status of IIT Madras. The campus is located in the city of Chennai, previously known as Madras. Chennai is the state capital of Tamilnadu, a southern state in India.



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -

Subscribe to our weekly newsletter and don't forget to check out the latest updates.