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IIT Madras fundraising soars to an all-time high of Rs 131 cr in 2021-22

IIT Madras fundraising soars to an all-time high of Rs 131 cr in 2021-22

New Delhi: The Indian Institute of Technology (IIT), Madras has raised an all-time high sum of Rs 131 crore from alumni, donors, and corporate firms during the financial year 2021-22 to further its philanthropic and socially relevant projects, officials said on Monday. The institute aims to accelerate fundraising by strengthening alumni networks and increasing engagement with corporates, philanthropies and high-net-worth individuals, they said.

The fundraising activities are spearheaded by the Office of Alumni and Corporate Relations, which comprises 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 crore raised in last financial year,” said Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras.

“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 said.

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 crore from IIT Madras alumni globally towards COVID-19 relief projects that were deployed to provide essential medical equipment such as BiPAP and oxygen concentrators to the governments of Tamil Nadu, Karnataka, and Telangana.

“We have a professional donor stewardship team to ensure that all our projects are managed effectively. All donors want to ensure that their money is utilised in a transparent and impactful way, providing scalable solutions. And we meet all their requirements,” said Kaviraj Nair, Chief Executive Officer, Office of Institutional Advancement, IIT Madras.

“We also have entirely volunteer-driven alumni chapters across the world, with alumni who are passionate about supporting their alma mater in its pursuit of world-class research creating a global impact,” he said.

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