The Indian Institute of Technology (IIT) Madras has collected from alumni, donors and corporate firms 131 crore rupees historical achievements during fiscal year 2021-22 to develop its charitable and socially important projects.
“The institute aims to accelerate fundraising by strengthening alumni networks and expanding engagement with corporations, charities and high-capitalists. The fundraising activity is headed by the Alumni and Corporate Relations Office, which consists of a dedicated team of professionals working with corporate firms, alumni and donors, ”the institute said.
The institute reports that despite the COVID-19 pandemic, fundraising from graduates, donors and corporate firms has increased by more than 30 percent compared to last year. The number of corporate firms donating IIT Madras funds through CSR has almost doubled in the last five years. Fundraising from Corporate Social Responsibility Partnerships (CSR) is almost half of the total of 131 crore rupees raised last fiscal year.
Professor Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, said: “We are grateful to all the alumni and corporate partners who have helped us through a significant contribution.” Emphasizing the role of IIT Madras graduates in socially relevant projects, Professor Mahesh Panchagnula said: “IIT Madras is happy that thousands of graduates are investing time and money in the development of the institute. This group is crucial for the further development of the Institute. “
The funds raised were vital to support the development of infrastructure, scholarships, professorships, research and mitigation initiatives for the COVID-19 pandemic, in particular, the institute adds.
Speaking about the Institute’s key fundraising initiatives, Mr Caviraj Nair, Chief Executive Officer of IIT Madras Institutional Development, said: “Our IIT Madras team has been able to put in place a tracking system based on phases with clear metrics and rigorous deployment. We have a professional donor team that ensures effective management of all our projects. All donors want their money to be used in a transparent and effective way, providing scalable solutions. And we meet all their requirements. “
In addition, Kaviraj Nair said: “We also have departments of alumni run by volunteers around the world, with alumni who passionately support her Alma Mater in her quest for world-class research that creates global impact.”
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