IIT Madras raises Rs 231 crore from alumni, donors in 2022-23-Education News

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. As per the data shared by IIT-Madras, the fundraising has recorded a year-on-year growth of 76 per cent vis a vis Rs131 crore in FY22). Moreover, the number of donors giving over Rs 1 crore has gone up by 64 per cent from the previous year. The funds were raised from alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as MNCs. Alumni and individual donors across India and globally alone contributed nearly Rs 96 crore for the development of the institute. Their focus areas included cutting-edge research across various social impact themes, infrastructure, scholarships for students, besides establishing Chair Professorships for research in specific areas.

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