The Indian Institute of Technology (IIT), Madras has received its largest ever single donation of Rs 228 crore from its illustrious alumnus Dr Krishna Chivukula (MTech, 1970). This donation is one of the largest ever given to any educational institution in India. The donation will be used for multiple purposes, including support to foreign students through scholarships, Research Excellence Grant, Undergraduate Fellowship Programme, Sports Scholarship Programme and development of Shastra Magazine. Apart from this, the amount will be used for maintenance of Krishna Chivukula Block and other activities.
The institute named an academic block ‘Krishna Chivukula Block’ in honour of Dr. Krishna Chivukula during an event on campus. The event was attended by Dr. Krishna Chivukula, IIT Madras Director Professor V. Kamakoti, IIT Madras Dean (Alumni and Corporate Relations) Professor Mahesh Panchagnula, IIT Madras CEO, Institutional Advancement Office CEO Kaviraj Nair and other faculty, researchers, staff and students.
Who is Dr. Krishna Chivukula?
Dr. Krishna Chivukula graduated from IIT Madras with an MTech in Aerospace Engineering in 1997 and an MBA from Harvard Business School in 1980. After serving as Group President and CEO at the Hoffman Group of Companies in New York, Dr. Chivukula founded two consecutive “world’s number one” companies. He founded Shiva Technologies Inc. and Indo MIM Private Limited. He has also made significant advances in engineering manufacturing technology.
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In 1997 he introduced a cutting edge engineering manufacturing technology called ‘Metal Injection Molding (MIM)’ in India while it was still an emerging technology in the US. Currently his company, Indo US MIM Tech, is ranked number one in the world in MIM technology in terms of capacity and sales and has an estimated turnover of around Rs 1000 crore.
Addressing a press conference on the occasion at IIT Madras, Professor V. Kamakoti, Director, IIT Madras said, “The fact that our alumni remember their alma mater even after so many decades is a testament to the fact that education is the only immortal wealth we can give to mankind. I am grateful to Krishna Chivukula for his enormous contribution, which will benefit many future generations of students in the pursuit of knowledge.”
Speaking about his motives for supporting his alma mater, Dr. Krishna Chivukula, Founder and CEO, Indo-MIM, said, “My education at IIT Madras was not only highly memorable and enjoyable, but it also enabled me to achieve a lot in life and put me in a position where I can make a gift to the institution – the largest single donation ever made to a university in India!”
Thanking Dr. Krishna Chivukula, Professor Mahesh Panchagnula, Dean (Alumni & Corporate Relations), IIT Madras, said, “Dr. Krishna Chivukula is not only a successful techie but also an exemplary alumnus. His humility and generosity will serve as role models for generations of alumni to come.”
Largest donation in the history of IIT Madras
IIT Madras raised a record Rs 513 crore during the financial year 2023-24, an increase of 135% over the previous year. The amount was raised through alumni, CSR funds and grants from corporate firms. The number of donors who gave more than Rs 1 crore to the institute is 48 (16 alumni donors and 32 corporate partners). The total amount raised through alumni alone during 2023-24 was Rs 367 crore, an increase of 282% over the previous year.
Source (PTI) (NDTV) (HINDUSTANTIMES)