IIT Madras Raises INR 131 Crores In 2021-22; The Highest-Ever In A Year!

According to a recent statement, the Indian Institute of Technology (IIT) Madras has raised the highest ever funding of INR 131 Crore in 2021-22. The donations have come from multiple sources, which included alumni, philanthropists, as well as corporate entities.

The highly trained IIT Madras professors, who are conducting groundbreaking research and executing effective socially relevant projects, have been a major driving force behind this fundraising effort.

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“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,” said Mahesh Panchagnula, Dean and in charge of Alumni and Corporate Relations at IIT Madras.

The institution hopes to increase fundraising by expanding alumni networks and strengthening interaction with corporations, philanthropists, and high people of net worth. The office of Alumni and Business Relations, which consists of a team of dedicated experts who interact with corporate firms, contributors, and alumni is in charge of fundraising at IIT Madras.

The Institute raised more than INR 15 Crore (approximately 2 million USD) from its alumni around the world for COVID-19 relief projects, which were used to provide essential medical equipment to the governments of Tamil Nadu, Karnataka, and Telangana, including oxygen concentrators and BiPAP.

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Kaviraj Nair, The CEO at the Office of Institutional Advancement, IIT Madras, commented, “Our team at IIT Madras has been able to put in place a milestone-based tracking system with clear metrics and rigorous deployment. 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 utilized in a transparent and impactful way, providing scalable solutions. And we meet all their requirements,” he added.

Fundraising from alumni, corporations, and donors has increased by more than 30% year over the years, even during the pandemic situation. In the previous five years, the number of business firms providing funding through CSR to IIT Madras has nearly doubled.

In fact, almost half of the amount earned in the previous financial year came through partnerships via corporate social responsibility (CSR).

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