The Indian Institute of Technology Madras (IIT-M) has received a remarkable donation of $27.1 million (equivalent to INR 228 Crore) from Krishna Chivukula, an Indian-American alumnus. This generous contribution stands as the largest single donation ever made to the prestigious institute.
The substantial donation will be utilized to support various initiatives at IIT Madras. These initiatives include scholarships for international students, which will help attract and retain talent from around the world, and a Research Excellence Grant Program aimed at fostering cutting-edge research within the institution. Additionally, the funds will sponsor an undergraduate fellowship program specifically designed for incoming students, offering them financial support as they embark on their academic journey. Furthermore, a sports scholar program will be established, promoting sports and fitness among students. Another significant portion of the donation will go towards the development and maintenance of the Shaastra Magazine, which serves as a platform for showcasing student and faculty achievements, research, and innovations. In honor of this generous donation, one of the institute’s blocks will be renamed the “Krishna Chivukula Block.”
Krishna Chivukula, the founder and CEO of INDO-MIM Ltd, has a long-standing association with IIT Madras. He graduated with a Master of Technology in Aerospace Engineering from the institute in 1970. Over the years, Chivukula has made significant contributions to the engineering and manufacturing industry. He is particularly noted for introducing Metal Injection Molding (MIM) technology in India in 1997, through his company INDO-MIM Ltd. Under his leadership, the company has become a global leader in MIM technology, with a projected turnover nearing $120.2 million.
This donation from Chivukula is part of a record-breaking fundraising year for IIT Madras. The institute has successfully raised $61.5 million during the 2023-24 fiscal year, marking an impressive 135 percent increase from the previous year. This surge in funding reflects the strong support IIT Madras has received from its alumni, individual philanthropists, and corporate partners. Notably, 48 donors have each contributed over $120,000, demonstrating the deep commitment of the institute’s community to its continued growth and success.
A significant portion of the funds raised came from alumni contributions, which alone totaled $44 million. This represents a staggering 282 percent increase compared to the previous year’s alumni donations. The remarkable fundraising efforts by IIT Madras are a testament to the strong connection between the institute and its alumni, as well as the broader community’s belief in the institute’s mission to drive innovation and academic excellence.
The funds raised through these donations will not only support the institute’s current initiatives but also help to lay a strong financial foundation for the future. With this enhanced financial backing, IIT Madras is well-positioned to continue its trajectory of growth and development, paving the way for new innovations, academic advancements, and research breakthroughs. The institute’s commitment to fostering a supportive environment for students, faculty, and researchers alike is further strengthened by these contributions.
In light of the donation, IIT Madras has expressed its deep gratitude to Krishna Chivukula and other donors. The institute’s leadership has highlighted the impact of such generous contributions on its ability to pursue its strategic goals, enhance the quality of education, and continue to be a leader in engineering and technology education in India and globally.
Overall, the landmark donation by Krishna Chivukula, along with the impressive fundraising achievements by IIT Madras during the 2023-24 fiscal year, underscores the institute’s enduring appeal and the strong bonds it maintains with its alumni and supporters. As IIT Madras continues to receive such support, it remains steadfast in its commitment to advancing knowledge, fostering innovation, and nurturing the next generation of leaders in science and technology.
