IIT Madras Secures Over INR 1,150 Crores in 2023-24 from Sponsored projects, Consultancy: Director

IIT Madras received ‘Institute of Eminence’ status in early 2020. The special grant that came with it is primarily being used to give a sharp impetus to research activities, ranging from AI and Data Sciences to Safety Science and Systems, and Sensing and Vision.

The Indian Institute of Technology Madras in 2023-24 received sanction for 331 Ministry-sponsored projects for a total value of INR 568.21 crores.

A total of 2,636 students today graduated during the 61st Convocation of Indian Institute of Technology Madras (IIT Madras). As many as 3,016 Degrees (including Joint and Dual Degrees) were awarded to the students on the occasion. A total of 444 PhDs were awarded, which included PhDs, Joint Degree Ph.Ds with foreign institutions and Dual Degree PhDs.

During this Convocation, Prof. V. Kamakoti, Director, IIT Madras, awarded degrees to 2,636 graduates including 764 B.Tech (of whom 27 with Honours), 277 Dual Degree B.Tech and M.Tech, 481 M.Tech, 151 M.Sc, 42 M.A, 50 Executive MBA, 84 MBA, 236 M.S, and 107  Web-enabled M.Tech for executives. The above PhD numbers also include 07 joint degrees with universities in foreign countries including Australia, Singapore, France and Germany.

Congratulating the graduating students, Dr. Pawan Goenka, Chairman, Board of Governors, IIT Madras, said, “India has already become a magnet for investments across various industries, ushering in an era of unprecedented opportunities. This is leading to a remarkable transformation and is steering us towards becoming a ‘Viksit Bharat’ - a developed India by 2047. This vision, championed by our Honourable Prime Minister Shri Narendra Modi, reflects a collective national ambition. The Indian economy is advancing rapidly. A decade ago, India ranked as the 10th largest economy globally, today it is 5th, and will soon become 3rd. India aspires to become a $30 -$35 trillion economy by 2047, on its way to Viksit Bharat.”

IIT Madras was designated as an ‘Institute of Eminence’ in early 2020. The special grant that came with it is primarily being used to give a sharp impetus to research activities. Through an internal competitive process, the Institute identified for support nearly many research initiatives grouped under clusters, ranging from AI and Data Sciences to Safety Science and Systems, and Sensing and Vision.

Presenting the Director’s Report, Prof. V. Kamakoti, Director, IIT Madras, said, “This year IIT Madras has exceeded its target of one patent a day by filing 419 patents during the year, of which 85 are international filings, and were granted 445 Indian and 15 international patents. The IITM Incubation Cell, the nodal incubator of IIT Madras and spearheading country’s leading deep tech startup hub, marked the beginning of 2024 on a jubilant note - a total portfolio of 365 startups, cumulatively valued at INR 45,000 Crores (US$5.4 Billion, based on investments raised from angels/VCs). The goal for the fiscal year 2024-25 is to incubate 100 more, focusing on areas such as space, manufacturing, robotics, Assistive Tech, climate-tech, fintech and AI.”

Prof. V. Kamakoti added, “In 2023-24, the Institute received sanction for 331 Ministry-sponsored projects for a total value of INR 568.21 crores. Our strong industry collaboration is evident from the 883 consultancy and industry-sponsored research projects received this financial year amounting to INR 584.87 crores. The above is inclusive of around 130 international projects funded by foreign entities.”

Following the Main Convocation in the morning, Department Degree Distribution Programmes (D3P) were held in the various academic departments, where graduating students were conferred their degrees in person.