IIT Madras Fundraising Soars All-Time High Of Rs 131 Crore
The Indian Institute of Technology (IIT), Madras has raised a historic all-time high sum of Rs 131 crore 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,” IIT Madras said in a statement. The fundraising activities are carried out by the “Office of Alumni and Corporate Relations” at IIT Madras, it said.
According to estimates, the contributions from the IIT Madras alumni network, donors and corporate firms have increased by 30 percent. “The institute aims to accelerate fundraising by strengthening alumni networks and increasing engagement with corporates, philanthropies and high-net-worth individuals,” said a statement from IIT Madras. The fundraising for IIT Madras
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 crore raised in the last financial year, the institute said.
IIT Madras collected over Rs 15 crore for COVID-19 relief projects from the institute’s alumni network. These funds were used to provide essential medical equipment such as BiPAP and oxygen concentrators.
Prof 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,” he further said,