IIT Madras raises historic Rs 231 cr from alumni, donors 

Indian Institute of Technology Madras (IIT Madras) along with its associated entities has raised a historic amount of Rs 231 crore in funding from alumni, industry and individual donors during the financial year 2022-23. This is the highest amount of funding raised in one financial year by the institute for implementing socially-relevant projects.

The fundraising has recorded a year-on-year growth of 76 percent vis-a-vis Rs 131 Cr in FY22. The number of donors giving over Rs 1 crore to the institute has increased by 64 percent from the previous year. The total funds raised have grown at a CAGR of 45% over the last 10 years. The funds were raised from alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as multinational corporate firms. Alumni and individual donors across India and globally alone contributed nearly Rs 96 crore to the development of the institute. Their focus areas included cutting-edge research across various social impact themes, infrastructure, and scholarships for students, besides establishing chair professorships for research in specific areas. The last year also witnessed contributions coming in through batch reunions, some of which could not happen earlier due to the pandemic.

Prof. Mahesh Panchagnula, dean (alumni and corporate relations), IIT Madras, said, “Year over year, the support of alumni and corporate philanthropy has been a crucial ingredient of our success on the global stage.”