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Philanthropic Gesture: Nandan Nilekani’s ₹315 Crore Donation Empowers IIT Bombay

Nandan Nilekani Extends Generous Support to IIT Bombay with ₹315 Crore Contribution

Nandan Nilekani, the co-founder and chairman of Infosys Limited and a prominent figure in the technology industry, has made a generous donation of ₹315 crore ($38.5 million) to his alma mater, the Indian Institute of Technology Bombay (IIT Bombay). The significant contribution aims to support the institute’s growth by enhancing its infrastructure, promoting research in emerging areas of engineering and technology, and fostering a thriving ecosystem for deep tech startups.

Expressing his gratitude towards the institution that played a crucial role in shaping his formative years, Nilekani stated that the donation goes beyond financial support. It is a heartfelt tribute to the place that has given him so much and a commitment to the future generation of students who will shape the world. The donation is also a milestone for Nilekani, marking 50 years since his association with IIT Bombay began.

IIT Bombay, one of India’s premier educational institutes, views this historic donation as the dawn of a new era. Professor Subhasis Chaudhuri, the institute’s director, emphasized that Nilekani’s contribution would significantly accelerate IIT Bombay’s growth and propel it towards global leadership in education and research.

The institute plans to utilize the funds to establish world-class centers of excellence in strategic areas such as artificial intelligence, green energy, and quantum computing within the next decade. Additionally, it aims to foster a vibrant ecosystem for deep tech startups and provide exceptional research, living, and academic facilities for students and faculty members. To accomplish these ambitious goals, IIT Bombay has set a target of raising approximately $500 million over the next five years, with Nilekani’s contribution kick-starting their fundraising efforts.

Nilekani’s latest donation of $38.5 million adds to his previous grants totaling ₹85 crore, resulting in a cumulative support value of ₹400 crore. His earlier contributions played a pivotal role in constructing new hostels, co-financing the school of information technology, and establishing India’s first university incubator. In recognition of his achievements and contributions, Nilekani was honored with the distinguished alumnus award in 1999 and later received an honorary doctorate during the institute’s 57th convocation in 2019.

Nilekani’s association with IIT Bombay began in 1973 when he embarked on his educational journey, pursuing a bachelor’s degree in electrical engineering. Over the past five decades, he has maintained a strong connection with the institute, serving in various roles. Notably, he was a board member of the IIT Bombay Heritage Foundation from 1999 to 2009 and a member of the board of governors from 2005 to 2011.

IIT Bombay believes that Nilekani’s substantial contribution will inspire philanthropic support for research and development at universities across the country. With his benevolent gesture, Nilekani has set the stage for the institute’s future growth and reaffirmed his commitment to empowering the next generation of innovators and leaders in India’s technological landscape.

Also read this article: World Bank Grants USD 255.5 Million Loan to Enhance Technical Education in Indian Government Institutions

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