IIT Madras raises all-time high sum of Rs 131 cr from alumni, firms in FY22

Number of firms donating to IIT Madras via CSR route has almost doubled in past five years; account for nearly half the total Rs 131 crore raised last financial year.

Indian Institute of Technology Madras has raised an all-time high sum of Rs 131 crore from alumni, companies and other donors during financial year 2021-22 to further its philanthropic and socially-relevant projects.

Despite the Covid-19 pandemic, the fundraising from various donors has been increasing by over 30 per cent year on year. The number of firms donating funds to IIT Madras via CSR has almost doubled in the past five years. Fundraising from Corporate Social Responsibility (CSR) partnerships accounts for nearly half the total Rs 131 crore raised last financial year.

The institute 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 has a dedicated team of professionals that works with corporate firms, alumni and donors.

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.

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. “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 (about $2 million) from IIT Madras alumni globally towards Covid-19 relief projects, which were used to provide essential medical equipment such as BiPAP and oxygen concentrators, to the governments of Tamil Nadu, Karnataka, and Telangana. The sectors that attracted major funding include infrastructure, innovative projects of students, faculty research and scholarships.