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IIT-M launches new fund raising platform through alumni

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Chennai | Sunday, Jul 23 2017 IST
The Indian Institute of Technology-Madras todaylaunched a new fund raising platform for raising endowment funds through alumni. The new platform was launched on the occasion of 'Alumnite' held to welcome the 2017 batch, which graduated on Friday into the Alumni fold, the 'Joy of Giving to IITM', which was intended to aid IIT-M' journey towards global distinction in the fields of engineering education and research. It would work towards raising endowment funds for the institute through alumni and corporations from around the globe. The new initiative aims to place IIT-M among the 'Top 50' education and research institutes in the world. ''Crowd funding is a new initiative of IIT-Madras, which has brought in Rs one crore in retail funds. Around 250 new donors have joined the initiative with the average donation size being Rs 35,000'', a releasefrom IIT-M said. The Alumni and funding under Corporate Social Responsibility (CSR) initiatives have cumulatively helped raise Rs 177 crore in the last eight years from 5,000 donors. More than 30 companies were engaged with IIT-M at the moment. The fund raising by IIT-Madras grew by 22 per cent in 2016-17. Welcoming the 2017 batch into the Alumni fold, Prof R Nagarajan, Dean, International and Alumni Relations, IIT-M, said IIT-M have successfully regained the No:1 ranking in NIRF for the second consecutive year. This was made possibly due to the contributions of the faculty, students, staff and the alumni. AlumNite" featured awards, prizes and entertainment. MORE UNI GV CS 1125

-- (UNI) -- C-1-1-DL0275-984174.Xml

 
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