IIT Madras has received a remarkable donation of ₹228 crore from alumnus Dr Krishna Chivukula, marking the largest single donation in the institute’s history and one of the largest ever received by an educational institution in India. This generous contribution, as described by Kaviraj Nair, chief executive at the Office of Institutional Advancement at IIT Madras, demonstrates Dr Chivukula’s unwavering commitment to fostering excellence in education, research, and innovation.
The donation will be strategically utilized to support a wide range of initiatives, including providing scholarships for international students to pursue their education at IIT Madras, funding groundbreaking research projects, establishing an undergraduate fellowship program for incoming students, supporting sports scholarships, enhancing the Shaastra Magazine, and maintaining the Krishna Chivukula Block.
Dr Chivukula, who earned an MTech degree in aerospace engineering from IIT Madras in 1970 and an MBA from Harvard Business School in 1980, has a distinguished history of contributions to the field of engineering. In 1997, he introduced metal injection molding, an innovative manufacturing technology, to India, at a time when it was still a relatively new technology in the United States. His exceptional achievements earned him the prestigious Distinguished Alumnus Award from IIT Madras in 2015.
The financial success of IIT Madras in FY24 is further highlighted by its record fundraising of ₹513 crore, more than double the amount raised in the previous year. Notably, alumni contributions alone reached a staggering ₹367 crore, representing a remarkable 281% increase from the previous year. The institute received donations exceeding ₹1 crore from 48 donors, including 16 alumni and 32 corporate partners, during FY24.
These funds were raised through various channels, including contributions from IIT Madras alumni, individual philanthropists, and corporate social responsibility funds and grants from Indian and multinational corporations. According to data released by the college, the institute raised ₹101.2 crore in FY21 and ₹131 crore in FY22, showcasing a steady upward trend in fundraising efforts.
