The Indian Institute of Technology Madras received ₹131 crore from alumni and corporates in 2021-22. The amount would be utilised for its philanthropic and socially relevant projects.
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According to the institute, this marked an increase of over 30% year-on-year receipt of contributions. The number of companies offering funds had also doubled in the last five years. The office of alumni and corporate relations spearheads the fundraising activities.
Dean of Alumni and Corporate Relations Mahesh Panchagnula said funds had been vital in supporting infrastructure development, scholarships, chair professorships, research and initiatives to mitigate COVID-19 pandemic.
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During the pandemic, the institute collected over ₹15 crore (approximately $2 million) from the alumni globally and used it for COVID-19 relief work such as providing essential medical equipment, including BiPAP and oxygen concentrators, to the governments of Tamil Nadu, Karnataka and Telangana.
Infrastructure, innovative student projects, faculty research, scholarships and chair professorships attracted the most funding.
Funding is voluntary by alumni who are passionate about supporting their alma mater, said Kaviraj Nair, chief executive officer of the Office of Institutional Advancement at the institute.