This college receives ₹231 crore funding from alumni, donors in 2022-23

Indian Institute of Technology Madras (IIT Madras) has raised an amount of Rs 231 crore in funding from alumni, industry and individual donors during the financial year 2022-23. As per IIT-Madras, this is the highest amount of funding raised in one financial year by the institute for implementing socially-relevant projects.

Funding increased 76 per cent year-on-year (YoY) compared to Rs 131 crore in FY22, according to data shared by the institute. The number of donors contributing more than Rs 1 crore increased 64 per cent YoY. IIT Madras had raised Rs 101.2 crore in FY21.

“Our benefactors enable us to build interdisciplinary Centres of Excellence focused on developing and deploying new technologies in socially-relevant realms like healthcare, climate change, energy, skill development, and agriculture. They also provide financial assistance to needy students through scholarships and fellowships,” said Kaviraj Nair, Chief Executive Officer, Office of Institutional Advancement, IIT Madras.

“Alumni contribute to improving the overall infrastructure on the campus, such as the construction of innovation hubs, indoor sports complexes, or the purchase of electric buses for campus transportation. We also work extensively with our alumni to create a world-class startup ecosystem associated with IIT Madras,” said Nair.