The Indian Institute of Expertise Madras (IIT-M) has introduced that it raised a document Rs 513 crore in the course of the monetary yr 2023-24, marking greater than double the quantity raised within the earlier yr. As per an ET report, this improve got here from alumni, companies, and particular person donors, showcasing the robust assist for the establishment’s mission and initiatives.
IIT-M Alumni main the cost
A lot of the funds got here from alumni, who contributed Rs 368.19 crore. The Company Social Duty (CSR) phase gave Rs 95.53 crore, and the remaining quantity got here from varied different sources.
Moreover, IIT-M has acquired new funding pledges totaling Rs 717.8 crore from alumni and company companions for the 2023-24 fiscal yr. Of this, alumni have pledged Rs 455.6 crore, and the CSR phase has pledged Rs 262.2 crore.
Influence on analysis, infrastructure, and scholarships
The funds raised might be used to develop new applied sciences and assist analysis at IIT Madras. The cash can even assist carry current expertise to completely different components of the nation primarily based on group wants.
The funds can even assist IIT-M broaden its services and supply scholarships for college students.
Mahesh Panchagnula, dean of alumni and company relations at IIT-M was quoted as saying, “This ecosystem of well-wishers has touched lots of of scholars’ lives and is more likely to impression hundreds of thousands extra by way of the applied sciences that might be developed.”
Report development in fundraising
In 2023-24, greater than 1,000 donors contributed to IIT Madras, resulting in a complete of Rs 513 crore. This can be a 135% improve from the Rs 218 crore raised within the earlier yr. Of those donors, 48 gave at the least Rs 1 crore every—16 had been alumni, and 32 had been company companions.
“Steep tutorial development wants a steep rise in funding,” mentioned V Kamakoti, director of IIT-M.
Key initiatives supported
The CSR phase of IIT Madras’ fundraising grew by 11.2% in comparison with the earlier yr, elevating Rs 95.53 crore. In complete, CSR and different company grants contributed Rs 116.8 crore, with a ten.5% improve in partnerships the place every companion gave greater than Rs 1 crore.
These funds assist essential initiatives just like the Wadhwani College of Knowledge Science and AI, the Sports activities Excellence Admission Programme, the Jaisri and Venkat Wind Power Centre, the Shankar Centre of Excellence for Diabetes Analysis, the Walmart Centre for Tech Excellence, and the FedEx Centre for Sustainable Provide Chains.
Management in fundraising
IIT Madras’ fundraising is managed by its Workplace of Institutional Development, which is guided by the IIT Madras Alumni Charitable Belief, a corporation made up of alumni.


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