IIT Madras raises record-breaking funding from alumni and industry
The Institute also attracted total new pledges of Rs 717 crore from the alumni and corporate partners during the FY 2023-24
The Indian Institute of Technology Madras (IIT Madras) has raised a record-breaking amount of Rs 513 crore as funding from its alumni, industry and individual donors during the financial year 2023-24.
The Institute also attracted total new pledges of Rs 717 crore from the alumni and corporate partners during the FY 2023-24.
In 2020-21, IIT-Madras managed to raise Rs 101.2 crore, in 2021-22, it rose to Rs 131 crore and in 2022-23, the institute received Rs 231 crore.
This historic high of Rs 513 crore is a 135 per cent increase from the amount raised in the previous financial year of 2022-23.
According to information, around 48 (16 alumni and 32 corporate partners) donors have donated over Rs 1 crore each.
The IIT Madras has set up an Office of Alumni and Corporate Relations, a dedicated team of professionals, to look after the fundraising initiatives and to promote and facilitate connections amongst the diverse network of IIT Madras alumni, corporate firms and philanthropists.