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Indian American alum makes single largest donation to IIT Madras
The funds will support scholarships, research grants, UG fellowships, sports, Shaastra Magazine, and block maintenance.
Founder and CEO of INDO-MIM Ltd, Krishna Chivukula makes significant contributions to IIT-M. / Image - LinkedIn/ alumni corporate IITM
The Indian Institute of Technology Madras (IIT-M) announced that it has received a donation of $27.1 million (INR 228 Crore) from Indian-American alumnus Krishna Chivukula. This contribution marks the largest single donation ever made to the institute.
The donation will support various initiatives at IIT Madras, including scholarships for international students, a Research Excellence Grant Program, an undergraduate fellowship program for freshers, a sports scholar program, and the development of the Shaastra Magazine. Additionally, funds will be allocated for the maintenance of the newly named "Krishna Chivukula Block."
Chivukula, the founder and CEO of INDO-MIM Ltd, graduated with a Master of Technology in Aerospace Engineering from IIT Madras in 1970, and has been a trailblazer in the engineering and manufacturing industry.
As per @ETVBharatTN @iitmadras alumnus Dr. Krishna Chivukula donated ₹228 crores to his alma mater! Studying M. Tech for ₹12.50, he's giving back in a big way. A building at #iitmadras was named in his honour.
— IIT Madras (@iitmadras) August 7, 2024
Read more: https://t.co/hTCj7jLR97@IndoMim1 @Ravicha87018067 pic.twitter.com/aLjw3BqNbJ
Notably, in 1997, he introduced Metal Injection Molding (MIM) technology in India, establishing his company as a leader in MIM technology with a projected turnover nearing $120.2 million.
This donation is part of a record-breaking fundraising year for IIT Madras, which raised $61.5 million during the 2023-24 fiscal year, a 135 percent increase from the previous year. The institute received significant support from alumni, individual philanthropists, and corporate partners, with 48 donors contributing over $120,000 each.
Newly named Krishna Chivukula Block / Image - LinkedIn/ alumni corporate IITM
The funds raised from alumni alone totaled $44 million, representing a 282 percent increase compared to the previous year. IIT Madras continues to strengthen its financial foundation through the generosity of its community, paving the way for future innovations and academic excellence.
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