In order to commemorate his 50 years of affiliation with the Indian Institute of Technology (IIT) Bombay, Infosys co-founder Nandan Nilekani made a donation of Rs 315 crore to the institution, which is also his alma mater. Nilekani’s association with IIT Bombay began when he enrolled there in 1973 to pursue a Bachelor’s degree in electrical engineering. From 2011 to 2015, he served on the board of governors of the institution.
According to a press statement, the donation will support world-class infrastructure, encourage research in cutting-edge engineering and technology fields, and support IIT Bombay’s environment for deep tech startups. The donation was described as “one of the largest donations made by an alumnus in India” as well.
Prof. Subhasis Chaudhuri, Director of the IIT Bombay, and Nandan Nilekani signed the Memorandum of Understanding in Bengaluru. This immense contribution serves as the foundation for IIT Bombay’s high ambition of becoming a worldwide leader among engineering and technology institutions and contributing considerably to nation-building.
“IIT-Bombay has been a cornerstone in my life, shaping my formative years and laying the foundation for my journey,” read the statement Nilekani. “As I celebrate 50 years of my association with this esteemed Institution, I am grateful to give forward and contribute to its future,” Nilekani added.
IIT-Bombay has indicated that it would need to raise $500 million (about 4,106 crore) over the next five years in order to carry out its forthcoming goals. Nilekani’s $38.5 million donation will therefore act as an “anchor contribution” and make it easier for the institute to start making plans to achieve its goals.
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Nilekani had previously contributed Rs 85 crore to the institute, raising his total donation to Rs 400 crore.
Prof. Subhasis Chaudhuri, Director of IIT-B, stated that this marks the start of a ‘new era’ in the institute’s history.
“We are extremely delighted to see our illustrious alumnus Nandan Nilekani, continuing his foundational and pioneering contributions to the institute. The historic donation will significantly accelerate the growth of IIT-Bombay and firmly set it on a path of global leadership,” said Prof. Chaudhuri.
