The Indian Institute of Technology (IIT) Madras has received its largest ever single donation of 228 crores from its distinguished alumnus, Dr. Krishna Chivukula (MTech, 1970). This donation is one of the largest ever given to any educational institute in India. The fund will be used for various purposes such as providing scholarships to international students, research excellence grants, undergraduate fellowship programs, sports scholarship programs, and the development of Shastra Magazine. Additionally, the funds will also be utilized for the maintenance and other activities of the Krishna Chivukula Block.
The institute honored Dr. Krishna Chivukula by naming an academic block as 'Krishna Chivukula Block' during an event on campus. The event was attended by Dr. Krishna Chivukula, IIT Madras Director Professor V. Kamakoti, Dean of Alumni and Corporate Relations Professor Mahesh Panchagnula, CEO of the Office of Institutional Advancement Kaviraj Nair, and other faculty, researchers, staff, and students.
Who is Dr. Krishna Chivukula?
Dr. Krishna Chivukula graduated with an MTech in Aerospace Engineering from IIT Madras in 1997 and obtained an MBA from Harvard Business School in 1980. After serving as President and CEO of the Hoffman Group of Companies in New York, Dr. Chivukula founded two globally recognized companies, Shiva Technologies Inc. and Indo MIM Pvt Ltd. He has made significant progress in engineering manufacturing technology.
Source: aajtak
In 1997, he introduced India's cutting-edge engineering manufacturing technology, known as 'Metal Injection Molding (MIM)', while it was still an emerging technology in the USA. Currently, his company, Indo US MIM Tech, holds the number one position worldwide in MIM technology in terms of capacity and sales, with an estimated turnover of around 1000 crores.
During a press conference held to address the occasion at IIT Madras, the Director Professor V. Kamakoti stated, "It is a testament to the eternal value of education that our alumni continue to remember their alma mater even after decades. We are grateful to Krishna Chivukula for his generous contribution which will benefit future generations of students in their pursuit of knowledge."
Speaking about his motivation to support his alma mater, Indo-MIM's founder and CEO Dr. Krishna Chivukula said, "My education at IIT Madras was not only incredibly memorable and enjoyable but also provided me with the platform to achieve so much in life, putting me in a position to give back to the institution - the largest single donation ever made to a university in India!"
Source: aajtak
Expressing gratitude, IIT Madras Dean of Alumni and Corporate Relations Professor Mahesh Panchagnula stated, "Dr. Krishna Chivukula is not only a successful technical entrepreneur but also a model alumnus. His humility and generosity will serve as exemplary traits for generations of alumni."
Largest Donation in IIT Madras History
During the financial year 2023-24, IIT Madras raised a record 513 crores, a 135% increase over the previous year. This funding was raised through grants from alumni, CSR funds, and corporate firms. The number of donors contributing more than 1 crore each stands at 48 (16 alumni donors and 32 corporate partners). The total funds raised through alumni alone in the 2023-24 period amounted to 367 crores, marking a 282% increase over the previous year.
