IIT Madras raises record Rs 513 crore from alumni, corporates & donors; 48 donors give Rs 1 crore or more


The Indian Institute of Technology Madras (IIT-M) has introduced that it raised a record Rs 513 crore in the course of the monetary yr 2023-24, marking more than double the quantity raised within the earlier yr. As per an ET report, this enhance got here from alumni, firms, and particular person donors, showcasing the robust help for the establishment’s mission and tasks.
IIT-M Alumni main the cost
Most of the funds got here from alumni, who contributed Rs 368.19 crore. The Corporate Social Responsibility (CSR) phase gave Rs 95.53 crore, and the remaining quantity got here from varied different sources.
Additionally, IIT-M has acquired new funding pledges totaling Rs 717.8 crore from alumni and company companions for the 2023-24 fiscal yr. Of this, alumni have pledged Rs 455.6 crore, and the CSR phase has pledged Rs 262.2 crore.
Impact on analysis, infrastructure, and scholarships
The funds raised can be used to develop new applied sciences and help analysis at IIT Madras. The cash may even assist deliver present expertise to totally different elements of the nation based mostly on group wants.
The funds may even assist IIT-M broaden its amenities and supply scholarships for college students.
Mahesh Panchagnula, dean of alumni and company relations at IIT-M was quoted as saying, (*1*)
Record development in fundraising
In 2023-24, more than 1,000 donors contributed to IIT Madras, resulting in a complete of Rs 513 crore. This is a 135% enhance from the Rs 218 crore raised within the earlier yr. Of these donors, 48 gave no less than Rs 1 crore every—16 had been alumni, and 32 had been company companions.
“Steep academic growth needs a steep rise in funding,” stated V Kamakoti, director of IIT-M.
Key tasks supported
The CSR phase of IIT Madras’ fundraising grew by 11.2% in comparison with the earlier yr, elevating Rs 95.53 crore. In complete, CSR and different company grants contributed Rs 116.8 crore, with a ten.5% enhance in partnerships the place every associate gave more than Rs 1 crore.
These funds help necessary tasks just like the Wadhwani School of Data Science and AI, the Sports Excellence Admission Programme, the Jaisri and Venkat Wind (*48*) Centre, the Shankar Centre of Excellence for Diabetes Research, the Walmart Centre for Tech Excellence, and the FedEx Centre for Sustainable Supply Chains.
Leadership in fundraising
IIT Madras’ fundraising is managed by its Office of Institutional Advancement, which is guided by the IIT Madras Alumni Charitable Trust, a company made up of alumni.

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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