Nandan Nilekani Donates Rs 315 Cr To IIT Bombay
Nandan Nilekani, the Co-founder and Chairman of Infosys. and Founding Chairman of UIDAI, has made a donation of Rs 315 crore (USD 38.5 Million) to his alma mater, the Indian Institute of Technology (IIT) Bombay.
This contribution aims to support the institute's infrastructure development, boost research in emerging engineering and technology areas, and foster a thriving deep tech startup ecosystem.
A Memorandum of Understanding was officially signed on Tuesday in Bengaluru by Nandan Nilekani and Prof. Subhasis Chaudhuri, Director of IIT Bombay. This donation commemorates Nilekani's golden jubilee of association with the institute.
The donation by Nilekani stands as one of the largest contributions ever made by an alumnus in India.
Expressing his gratitude, 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. This donation is more than just a financial contribution; it is a tribute to the place that has given me so much and a commitment to the students who will shape our world tomorrow."
This donation will serve as a catalyst for IIT Bombay's ambitious vision to become a global leader among engineering and technology institutes and play a significant role in the nation-building process. The institute's strategic plan for the coming decade involves establishing world-class centers of excellence in critical areas such as Artificial Intelligence, green energy, quantum computing, and more. Furthermore, it aims to nurture a vibrant deep tech startup ecosystem while providing top-notch research, living, and academic facilities to its students and faculty.
Director Prof. Subhasis Chaudhuri, referring to this historic donation as the beginning of a new era for IIT Bombay, expressed his immense delight. He said, "We are extremely delighted to see our illustrious alumnus Nandan Nilekani continuing his foundational and pioneering contributions to the institute. This historic donation will significantly accelerate the growth of IIT Bombay and firmly set it on a path of global leadership. Nandan's contribution will catalyze philanthropic contributions towards advancing research and development at universities in India."
Nandan Nilekani has maintained a strong connection with IIT Bombay over the past 50 years, serving in multiple roles. His earlier contributions totaling Rs 85 crore have played a vital role in the construction of new hostels, co-financing the School of Information Technology, and establishing India's first university incubator, which has significantly boosted the country's startup ecosystem. He has been recognised for his remarkable achievements, receiving the Distinguished Alumnus Award in 1999 and an Honorary Doctorate in 2019.
With IIT Bombay aiming to raise approximately USD 500 million over the next five years, Nilekani's anchor contribution of USD 38.5 Million will kick-start the institute's plans.
