The Indian Institute of Technology Madras has raised ₹231 crore from its alumni, corporate houses and donors in the financial year 2022-23.
The institute had recorded a year-on-year growth of 76% as against ₹131 crore in 2022. In 2021, it raised ₹101.2 crore. The number of donors who donated over ₹1 crore to the institute rose by 64% from the previous year.
Technology-driven social initiatives in energy, environment, health and education and collaborating for research under corporate social responsibility were the key areas that received funding.
According to the institute, it has raised the highest amount of funding in a financial year for implementing socially-relevant projects.
The total funds raised have risen at a compound annual growth rate 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 and multinational corporate firms.
About ₹96 crore was received from alumni and individual donors across the country and globally for the development of the institute.
Funds included for cutting-edge research in various social impact themes; infrastructure; scholarships for students besides establishing chair professorships for research in specific areas.
Mahesh Panchagnula, Dean (Alumni and Corporate Relations), thanked the alumni and industry and assured them “we shall strive to take IIT Madras to even greater heights with their continuing support in the coming years.”
The CSR segment witnessed 56% growth from the previous year with 50 new partnerships being added in the past year.
Chief executive officer of the office of Institutional Advancement at the institute Kaviraj Nair said benefactors enabled the institute to build interdisciplinary centres of excellence that focused on developing and deploying new technologies in socially relevant areas such as healthcare, climate change, energy, skill development and agriculture besides scholarships and fellowships to needy students.
CSR funding has supported projects of 94 faculty members as of date. The institute hopes to strengthen the alumni fundraising team in India and the U.S. in this financial year.
