IITB Recieves $38.5M Donation From Infosys Chairman Nandan Nilekani

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Nandan Nilekani signs Mou with IIT-B for $38.5M donation
  • IIT Bombay has been looking to expand its infrastructure which would require funding of $500 million. 
  • This is Nilekani’s second donation to the institute after an earlier donation of ₹85 crores.

Indian Institute of Technology (IIT), Bombay, received a donation of $38.5 million (₹315 crores) from alumnus and Infosys chairman Nandan Nilekani to fund the institute’s infrastructure expansion plans.

IIT Bombay has been looking to develop artificial intelligence (AI), green energy, and quantum computing centres, nurture the deep-tech start-up eco-system, fund research, and provide students and faculty with better accommodation and academic facilities. The entire plan requires fundraising of about $500 million over the next five years, of which Nikelani’s contribution will kickstart the process.

This is Nilekani’s second donation to the institute after an earlier donation of ₹85 crores. Nilekani signed a memorandum of understanding (MoU) with IIT Bombay director Prof. Subhasis Chaudhari on the golden jubilee of his association with the institute. Nikelani joined the institute in 1973 to study electrical engineering.

Speaking about the donation, Nandan Nilekani said, “IIT-Bombay has been a cornerstone in my life, shaping my formative years and laying the foundation for my journey. As I celebrate 50 years of my association with this esteemed Institution, I am grateful to give forward and contribute to its future.”

Nikelani has served on the IIT Bombay Heritage Foundation board from 1999 to 2009 and was on the board of governors from 2005 to 2011. His initial contribution totalling up to ₹85 crores, was used to construct new hostels, co-finance the school of information technology, and establish India’s first university incubator. He was awarded the prestigious distinguished alumnus award in 1999, followed by an honorary doctorate in 2019 as part of the 57th convocation of IIT Bombay.


 

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