Chennai: Indian Institute of Technology Madras has raised a historic all-time high sum of Rs. 131 crores from alumni, donors, and corporate firms during the financial year of 2021-22 to further its philanthropic and socially-relevant projects.
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 comprises of 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 firms 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 Rs. 131 crores raised in 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.
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 crores (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.
The sectors that attracted major funding include:
- Infrastructure
- Innovative projects of students
- Faculty Research
- Scholarships
- Chair professorships
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