In a remarkable feat, the Indian Institute of Technology Madras (IIT-M) has achieved unprecedented success in fundraising, amassing a staggering Rs 513 crore during the financial year 2023-24 (FY24). This achievement marks a remarkable 122% increase from the previous fiscal year’s Rs 231 crore, establishing a new record for the institution.
The substantial funding was sourced from a diverse range of stakeholders, including enthusiastic alumni, corporate partners, and other individual donors. Notably, new pledges amounting to Rs 717 crore were secured from alumni and corporate entities, underscoring the unwavering support for IIT-M’s initiatives.
The infusion of funds is poised to catalyze groundbreaking research endeavors aimed at addressing pressing societal needs across the nation. Additionally, the allocation of resources towards student scholarships and infrastructural enhancements will undoubtedly fortify the institute’s academic and research capabilities.
An exemplary initiative launched by IIT-M, the Sports Excellence Admission program, has garnered philanthropic backing, reflecting a holistic approach to fostering talent and innovation.
Integral to this fundraising triumph is the concerted effort led by the institute’s Office of Institutional Advancement, supported by the IIT Madras Alumni Charitable Trust. This collaborative endeavor has forged enduring relationships with philanthropists, corporate entities, and alumni networks, fostering a culture of giving back to the alma mater.
The exponential growth in alumni contributions, totaling Rs 367 crore, signals a resounding endorsement of IIT-M’s mission to drive impactful research, bolster infrastructure, and nurture future leaders. The surge in corporate social responsibility (CSR) funding, amounting to Rs 95.53 crore, underscores the burgeoning interest among corporate entities to invest in innovation and societal transformation.
Looking ahead, IIT-M remains steadfast in its commitment to excellence, buoyed by the unwavering support of its stakeholders. With a strategic focus on transparency and donor stewardship, the institute endeavors to sustain this upward trajectory in fundraising, propelling its vision of academic distinction and societal impact.
As IIT Madras continues its ascent as a beacon of innovation and scholarship, the profound impact of philanthropy and corporate partnerships remains pivotal in shaping its transformative journey.
