IIT Madras receives historic Rs 228 crore donation from 1970 Alumnus

Indian Institute of Technology Madras (IIT Madras) has achieved a landmark moment in its history with the receipt of a monumental Rs 228 Crore donation from Dr. Krishna Chivukula, a distinguished alumnus from the class of 1970. This substantial donation is one of the largest ever made to an educational institution in India, reflecting Dr. Chivukula’s deep commitment to his alma mater and its future.

IIT Madras Celebrates Rs 228 Crore Donation with New Academic Block

In honor of Dr. Krishna Chivukula’s extraordinary contribution, IIT Madras has named a new academic block the ‘Krishna Chivukula Block’. The naming ceremony, held on August 6, 2024, was a momentous occasion attended by Dr. Chivukula himself, IIT Madras Director Professor V Kamakoti, Dean of Alumni and Corporate Relations Professor Mahesh Panchagnula, along with other distinguished faculty, researchers, staff, and students.

The Rs 228 Crore donation will support a variety of initiatives at IIT Madras, marking a transformative impact on the institution’s capabilities and outreach. The funds will be allocated to several key areas, including scholarships for international students, research excellence grants, an undergraduate fellowship program, a sports scholar program, and the development of the Shaastra Magazine. Additionally, the donation will support the maintenance and development of the Krishna Chivukula Block and other related activities.

Impact on IIT Madras

Dr. Krishna Chivukula, who graduated from IIT Madras with an MTech in Aerospace Engineering in 1970 and later earned an MBA from Harvard Business School in 1980, is renowned for his remarkable achievements in the tech industry. He founded Shiva Technologies Inc. and Indo MIM Pvt Ltd, pioneering Metal Injection Molding (MIM) technology in India. His company, INDO US MIM Tec, has become a global leader in MIM technology with a projected turnover nearing Rs 1,000 crore.

Professor V Kamakoti expressed profound gratitude for the Rs 228 Crore donation, stating, “That our alumnus still remembers his Alma Mater after several decades reinforces the fact that education is the only immortal wealth that we can give to mankind. Grateful to Shri Krishna Chivukula for his big contribution, which will benefit several future generations of students in their pursuit of knowledge.”

Professor Mahesh Panchagnula also praised Dr. Chivukula’s generosity, noting, “Dr. Krishna Chivukula is not just a successful techno-businessperson but also an ideal alumnus. His humility and generosity will stand as exemplar characteristics for generations of alumni.”

Kaviraj Nair, CEO of the Office of Institutional Advancement at IIT Madras, emphasized the significance of the donation, saying, “We are profoundly grateful to Dr. Krishna Chivukula for his extraordinary generosity and unwavering commitment to our institution. His contribution will greatly enhance our capabilities and support various programs that will benefit many students.”

Record-Breaking Fundraising Year for IIT Madras

The Rs 228 Crore donation is part of a record-breaking fundraising effort by IIT Madras, which raised a total of Rs 513 Crore during the financial year 2023-24. This figure represents a 135% increase from the previous year and underscores the growing support from alumni, individual philanthropists, CSR funds, and corporate firms. Notably, contributions from alumni alone amounted to Rs 367 Crore, marking a remarkable 282% increase from the previous year.

The significant increase in fundraising reflects the deepening engagement and commitment of IIT Madras’s global alumni network and the broader community. The Rs 228 Crore donation from Dr. Krishna Chivukula plays a pivotal role in this impressive achievement, highlighting the strong connection between the institution and its distinguished former students.

In conclusion, the Rs 228 Crore donation by Dr. Krishna Chivukula is a transformative gift for IIT Madras, enabling the institution to expand its reach and enhance its programs. The establishment of the Krishna Chivukula Block and the funding of various initiatives will have a lasting impact on the institution, supporting future generations of students and contributing to the advancement of education and research at IIT Madras.

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