itt bombay alumni gift: IIT Bombay alumni gift Rs 57 crore to institute

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The Indian Institute of Technology, Bombay (IIT Bombay), on Sunday said that the class of 1998 has pledged a sum of Rs 57 crore towards its legacy project as part of its silver jubilee celebrations.

This is the highest sum given by a batch of alumni to the institute, exceeding Rs 41 crore in donations that the class of 1971 had made during their golden jubilee celebrations in 2022, as per a statement from IIT Bombay.

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The funds raised will help the institute support key academic projects and the research landscape at IIT Bombay, including creating sustainable and eco friendly hostels for students, fostering scientific and technological innovation and creativity and scholarships, the statement added.

The contributions have been made by over 200 alumni including major donations from top global executives Vector Capital managing director Anupam Banerjee, Silver Lake managing director Apoorv Saxena, Great Learning founder and chief executive Mohan Lakhamraju, Peak XV Partners managing director Shailendra Singh.

IIT Bombay, set up in 1958, is the second IIT in the country. It has produced over 70,000 engineers and scientists who have graduated from the institute.

The Legacy Project, as part of alumni’s golden, ruby, silver and decennial jubilee celebrations across the years, has alumni from specific batches make a unified donation. These donations are made towards projects that are significant for the development of the institute.

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“We are very grateful for the wonderful support we are getting from our alumni, which will help build IIT Bombay’s infrastructure to a level we can be justifiably proud of and help us take IIT Bombay to even greater levels of excellence in the years to come,” Professor S Sudarshan, deputy director, Academic and Infrastructural Affairs, said.Beyond record breaking donations, the alumni have been giving back to the Powai-based institute by serving on numerous advisory boards in IIT Bombay, helping make connections between faculty, students, and industry, besides contributing directly as faculty, professors of practice and in other roles, Sudarshan added.

As a part of the silver jubilee celebrations, commemorating 25 years since the 1971 batch graduated from IIT Bombay, the institute also launched the third edition of its annual fund-raising campaign ‘GO-IIT Bombay’ for the year 2023-2024.

The campaign themed ‘Invest in Excellence. Shape Tomorrow,’ aims to raise funds towards causes such as student scholarships, hostel infrastructure and the Institute Development Fund.

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