Infosys Co-Founder and Chairman Nandan Nilekani revealed on Tuesday (June 20) that he has donated Rs 315 crore to his alma mater the Indian Institute of Technology (IIT) Bombay, to mark 50 years of his association with the prestigious institution. Nilekani had joined the institute in 1973 to pursue a bachelor’s degree in electrical engineering.
A memorandum of understanding was signed by Professor Subhasis Chaudhuri, IIT Bombay Director, and Nilekani in Bengaluru to formalise the donation.
The latest donation is in addition to the previous contribution of Rs 85 crore made by Nilekani earlier. His total contribution to the institute now stands at Rs 400 crore.
“To mark 50 years of my association with @iitbombay, I am donating Rs 315 crores to my alma mater. I am grateful to be able to do this,” Nilekani wrote on Twitter.
To mark 50 years of my association with @iitbombay, I am donating ₹315 crores to my alma mater. I am grateful to be able to do this🙏Full release: https://t.co/q6rvuMf2jn pic.twitter.com/f8OEfZ1UTq
— Nandan Nilekani (@NandanNilekani) June 20, 2023
The donation will be used to build world-class infrastructure, nurture a deep tech startup ecosystem and stimulate research in emerging areas of engineering and technology, at IIT Bombay.
Not just Nilekani, but many other corporate leaders have also set an example by donating huge amounts to their alma mater.
Rs 100 crore donation to IIT-Kanpur by Indigo co-founder Rakesh Gangwal
In 2022, Rakesh Gangwal, Co-Founder of IndiGo airlines, and an alumnus of the IIT Kanpur made one of the biggest personal donations the institute has ever received. Gangwal contributed Rs 100 crore towards the institute’s School of Medical Sciences and Technology.
$10 million to IIT Delhi from US-based entrepreneur Anant Yardi
The United States-based entrepreneur Anant Yardi donated $10 million (nearly Rs 82 crore) to his alma mater IIT Delhi in 2021. Yardi is the CEO of Yardi Systems, a California-headquartered software company.
At the time, IIT Delhi director Ramagopal Rao had said that the donation was to be utilised for the School of Artificial Intelligence, which was established a year ago.
$5 million donated to IIT Delhi by Vinod Khosla
Indian-American entrepreneur and venture capitalist, Vinod Khosla donated $5 million (then nearly Rs 23.2 crore) to his alma mater IIT Delhi in 2003. He is the co-founder of Sun Microsystems.
Then IIT Delhi director R.S. Sirohi said the donation would be used to establish a school of IT for undergraduate and post-graduate students.
Shailesh Mehta gave $3 million to IIT Bombay
Former CEO of Providian Financial Corporation, Dr Shailesh Mehta, and his wife Kalpa Mehta donated about $3 million (approximately Rs 24 crore) to IIT Bombay in 2018 to establish an Executive MBA programme and to help set up the management school, Shailesh J Mehta School of Management (SJMSOM), at the institute.
$1.2 million donation to BITS Pilani by former CEO of Reckitt Benckiser, Rakesh Kapoor
In January, this year, former global CEO of Reckitt Benckiser, Rakesh Kapoor, made a donation of $1.2 million (about Rs 10 crore) to BITS Pilani, marking the largest gift the institution has received in its history.
As per an official statement, the institute said that the donation would be used to fund the creation of a state-of-the-art Centre of Innovation in its campus.
