IIT Madras Raises All Time High Funding of INR 513 Crore from Alumni, CSRs in FY 2023-24

New Delhi: IIT Madras has raised an amount of INR 513 Crore in funding during the financial year 2023-24, which is recorded as ‘Highest in a decade’. This funding is 135% more than the previous year's fundraising efforts, demonstrating unprecedented support from alumni, industry, and individual donors.

Prof. V. Kamakoti, Director of IIT Madras thanked the alumni, and contributors and said, "Steep academic growth needs a steep rise in funding. Thanks to all CSR partners and Alumni of IIT Madras for trusting and supporting us in raising this all-time high quantum of funding."

Funds Raised by IIT Madras from 2013 to 2024

Key Highlights of IIT Madras Fundraising Campaign

Through the funding of 2023-24, the university raised INR 513 Crore as funds and INR 717 Crore new pledges. The funds will be allocated towards technology research and development, deployment of existing technology to address societal needs, scholarships for deserving students, and infrastructural development.

For the second consecutive year, IIT Madras sets a new benchmark for the highest amount of funding raised by an academic institution in a single financial year. This year's contributions funded the introduction of the Sports Excellence Admission program.

In the fundraising campaign, 48 donors contributed over INR 1 Crore each, among them there were 16 alumni and 32 corporate partners. Contributions were received from alumni, individual philanthropists, CSR funds, and grants from Indian and Multinational Corporate firms.

The fundraising campaign was headed by the Office of Institutional Advancement at IIT Madras, under the guidance of the IIT Madras Alumni Charitable Trust, comprising dedicated alumni committed to the institute's progress.

Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, expressed his views on this funding and said, "IIT Madras has been fortunate to develop a unique blend of alumni and industry extending their support to various research and development projects through their philanthropy. This ecosystem of well-wishers has touched hundreds of students' lives and is likely to impact millions more through the technologies that will be developed. While the funds we have raised are historic, the relationships we built along the journey are deep and the source of our true strength."

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