The Indian Institute of Technology Madras (IIT Madras) has achieved a remarkable milestone by raising a record-breaking amount of Rs 513 crore in funding from its alumni, industry partners, and individual donors during the financial year 2023-24.
In addition to this impressive achievement, the institute also attracted total new pledges amounting to Rs 717 crore from alumni and corporate partners during the same period.
Kaviraj Nair, CEO of the Office of Institutional Advancement at IIT Madras, highlighted the significance of these funds, stating that they are utilized to support cutting-edge research, provide scholarships to students in need, and contribute to campus development initiatives.
Nair emphasized the transformative impact of this philanthropic support, noting that it extends beyond the confines of the campus and reaches into communities, positively impacting numerous lives. He expressed gratitude to donors, alumni, and stakeholders, underscoring their collective effort in pushing the boundaries of knowledge and making a tangible difference in the world.
The fundraising efforts of IIT Madras have seen remarkable growth over the past few years. From raising Rs 101.2 crore in 2020-21 to Rs 513 crore in 2023-24, the educational institute has experienced a significant increase in funding, marking a 135 percent rise from the previous financial year. This substantial growth reflects the commitment and generosity of the institute's supporters towards advancing its mission of academic excellence, innovation, and societal impact.
