Indian Institute of Technology Madras had raised an all-time high sum of ₹131 crore from alumni, donors and corporate firms during fiscal 2021-22 to further its philanthropic and socially-relevant projects. Despite the COVID-19 pandemic, the fundraising has been increasing by over 30 per cent year-on-year..
A key factor driving the fundraising has been IIT Madras faculty who are carrying out ‘path-breaking’ research and undertaking socially-relevant projects. The number of corporate firms donating funds to IIT Madras through Corporate Social Responsibility (CSR) has almost doubled in the last five years, and accounted for nearly half of the total funds raised in the last financial year, says a release from the institute.
The institute aims to accelerate fundraising by strengthening alumni networks and increasing engagement with corporates, philanthropies and high-net-worth individuals.