Comments
Indian Institute of Technology Madras (IIT Madras) on Tuesday received the largest single donation in its history of ₹228 crore from its Alumnus Krishna Chivukula (MTech, 1970), founder of INDO US MIM Tec in Bengaluru to produce small metal and ceramic components with complex geometries in high volumes.
Chivukula graduated with a M. Tech (Aerospace Engineering), majoring in Jet Propulsion in 1970 from IIT Madras. In addition, he received an MBA from The Harvard Business School in 1980.
In 1997 brought to India an engineering manufacturing technology called ‘Metal Injection Molding (MIM)’ while it was still an emerging technology in the US. Presently his company is a leader in MIM technology in terms of capacity and sales and has a projected turnover of nearly ₹1,000 crore, says a release.
IIT Madras named an academic block in honour of Krishna Chivukula - Krishna Chivukula Block.
This donation will be utilised for multiple purposes including supporting international students to study at IIT Madras through a Scholarship, Research Excellence Grant Program, an UG Fellowship Program for freshers at IIT Madras, Sports Scholar Program, Shaastra Magazine development and the Krishna Chivukula Block Maintenance, among other activities.
Chivukula told newspersons that the donation was given in his personal capacity. “I donated because it makes me happy. Happiness helps in leading a healthy life. I also studied at IIT Bombay and I would be donating to that institute too. I hope the donation creates a spark among entrepreneurs and philanthropists, and they will donate to various institutions in India,” he added.
IIT Madras raised a historic high of ₹513 Crore during 2023-24, a 135 per cent increase from the previous financial year. The number of donors giving over ₹1 Crore to the Institute was 48 (16 alumni donors and 32 Corporate Partners). The funds were raised from IIT Madras alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as Multinational Corporate firms, says the release.
The total amount raised through alumni alone during 2023-24 was ₹367 Crore, which is an increase of 282 per cent compared with the previous year, the release said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.