IIT Madras fundraising soars to INR 131 Crore from alumni, corporates in 2021-22

The fundraising activities are spearheaded by the Office of Alumni and Corporate Relations, which comprises a dedicated team of professionals who work with corporate firms, alumni and donors.

Indian Institute of Technology (IIT) Madras has announced that it has raised a historic all-time high sum of INR 131 crore from alumni, donors, and corporate firms during the financial year of 2021-22 to further its philanthropic and socially-relevant projects.

IIT Madras in a press release stated that it aims to accelerate fundraising by strengthening alumni networks and increasing engagement with corporates, philanthropies and high-net-worth individuals.

The fundraising activities are spearheaded by the Office of Alumni and Corporate Relations, which comprises 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 per cent Year-on-Year. The number of corporate firm 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 INR 131 crore raised in the last financial year.

A key factor driving this fundraising has been the highly qualified IIT Madras faculty who are carrying out path-breaking research and undertaking effective execution of socially-relevant projects. Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, said, “We are grateful to all the alumni and corporate partners who have helped us through impactful contributions.”

Highlighting the role played by IIT Madras alumni in socially-relevant projects, Prof. Mahesh Panchagnula, said, “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.”

The funds raised have been vital in supporting infrastructure development, scholarships, chair professorships, research, and initiatives to mitigate the COVID-19 pandemic in particular. 

During the pandemic, the Institute collected over Rs. 15 crore (approximately USD 2 million) from IIT Madras alumni globally towards COVID-19 relief projects, which were deployed to provide essential medical equipment such as BiPAP and oxygen concentrators, to the Governments of Tamil Nadu, Karnataka, and Telangana.

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