The Indian Institute of Technology (IIT) Madras announced that it received a donation of Rs 228 crore – which is one of the largest donations received by any educational institution in the country to date!
This donation was made by Dr Krishna Chivukula, who graduated from IIT Madras in 1970 and is also the recipient of the IIT Madras’ Distinguished Alumnus Award in 2015.
In recognition of this contribution, IIT Madras named a new academic block in honour of Dr Chivukula, in a ceremony conducted today, August 6, says a press release from the institute. The event was attended by Dr Chivukula, IIT Madras Director Prof V Kamakoti, Dean of Alumni and Corporate Relations Prof Mahesh Panchagnula, Chief Executive Officer of the Office of Institutional Advancement Kaviraj Nair, as well as faculty, staff, and students.
The donation will be allocated to several key initiatives, including scholarships for international students, a Research Excellence Grant Program, an Undergraduate Fellowship Program, a Sports Scholar Program, and the development of Shaastra Magazine.
Additionally, the funds will also be used for the maintenance of the Krishna Chivukula Block and other institutional needs, according to the press release.
About the donor
Dr Chivukula, an MTech graduate of IIT Madras, is renowned for introducing Metal Injection Molding (MIM) technology to India in 1997. His company, Indo MIM Tec, has since become a global leader in MIM technology, boasting the highest capacity and sales worldwide, with a projected turnover nearing Rs 1,000 crore.
With a degree from the Harvard Business School in 1980, Dr Chivukula also served as Group President and CEO at the Hoffman Group of Companies in New York, before going on to launch Shiva Technologies in 1990, and Indo MIM Tec, both of which are “world number one” companies.
Speaking at the event, Dr Chivukula said, “My education at IIT Madras, in addition to being extremely memorable and enjoyable, enabled me to accomplish much in life and put me in a position whereby I can give back to the Institute a gift – one of the largest single donations to date to a university in India!”
