CHENNAI: The Indian Institute of Technology Madras has raised Rs 231 crore in funding from alumni, industry and individual donors during the financial year 2022-23. According to the statement issued by IIT-M, it is the highest amount of funding raised in a financial year by the Institute for implementing socially-relevant projects.
Alumni and individual donors across India and globally alone contributed Rs 96 crore to the development of the institute. Last year also witnessed contributions coming in through batch reunions, some of which could not happen earlier due to the pandemic. The funds were raised from alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as MNCs.
Mahesh Panchagnula, dean (of alumni and corporate relations), at IIT-M, said, “Year over year, the support of alumni and corporate philanthropy has been a crucial ingredient of our success. We shall strive to take IIT-M to even greater heights with their continuing support in the coming years.”