The Indian Institute of Technology (IIT Madras) has raised a record Rs 513 crore for the financial year 2023-24 from its alumni, industry and individual donors.
The institute has also attracted fresh pledges totaling Rs 717 crore from alumni and corporate partners for the financial year 2023-24.
Kaviraj Nair, CEO, Office of Institutional Advancement, IIT Madras, said, “Funds raised through alumni and corporate donors are used to support cutting-edge research, provide scholarships to needy students and develop the campus.”
Kaviraj Nair added, “By investing in these critical areas, IIT Madras aims to not only elevate the educational experience, but also foster a nurturing environment for innovation and social change. The ripple effect of this donor support extends beyond our campus boundaries, reaching communities and touching countless lives. Together with our donors, alumni and partners, we will continue to push the boundaries of knowledge and make a tangible difference in the world,” he added.
In 2020-21, IIT-Madras managed to raise Rs 101.2 crore, in 2021-22, Rs 131 crore and in 2022-23, the institution managed to raise Rs 231 crore. This historic Rs 513 crore is 135 per cent higher than the amount raised in the previous fiscal year 2022-23.
As per the information, around 48 (16 alumni and 32 corporate partners) donors have donated more than Rs.1 crore each.
Major Programs of IIT Madras
– Wadwani School of Data Science and A.I
– Sports Special Admission Scheme
– Jaisree and Venkat Wind Energy Centre
– Shankar Center of Excellence for Diabetes Research
– Walmart Center of Technical Excellence
– FedEx Center for Sustainable Supply Chains
– Undergraduate Anatomy Laboratory in the Department of Medical Science and Technology
IIT Madras has set up an Office of Alumni and Corporate Relations, a dedicated team of experts to oversee fund-raising efforts and develop and facilitate linkages between the various networks of IIT Madras alumni, corporates and donors.
