Chennai : The Indian Institute of Technology-Madras (IIT-M) has raised a historic all-time high sum of Rs. 131 crore from alumni, donors, and corporate firms during the financial year of 2021-22 to further its philanthropic and socially-relevant projects.
The institute aims to accelerate fundraising by strengthening alumni networks and increasing engagement with corporates, philanthropies and high-net-worth individuals, a release from IIT-M said.
The fundraising activities are spearheaded by the Office of Alumni and Corporate Relations, which comprises a dedicated team of professionals who work with corporate firms, alumni and donors.
Despite the COVID-19 pandemic, the fundraising from alumni, donors and corporate firms has been increasing by over 30 per cent year-on-year.
The number of corporate firms donating funds to IIT Madras through CSR has almost doubled in the last five years. Fundraising from Corporate Social Responsibility (CSR) partnerships accounts for nearly half of the total Rs. 131 crore raised in last financial year.
A key factor driving this fundraising has been the highly qualified IIT Madras faculty who are carrying out path-breaking research and undertaking effective execution of socially-relevant projects, the release said.