Indian Institute of Technology (IIT), Madras has received its largest ever single donation of Rs 228 crore from its distinguished alumnus Dr. Krishna Chivukula (M.Tech., 1970). This donation is one of the largest donations ever given to any educational institution in India. The funds donated to the institute will be used to fulfill a number of purposes, including supporting foreign students through scholarships, Research Excellence Grants, Undergraduate Fellowship Programme, Sports Scholarship Programme, and development of Shastra Magazine. Apart from this, the amount will be used for maintenance and other activities of Krishna Chivukula Block.
The institute named an academic block ‘Krishna Chivukula Block’ in honor of Dr. Krishna Chivukula during a program on the campus. The event was attended by Dr. Krishna Chivukula, Director of IIT Madras, Professor V. Kamakoti, Dean of IIT Madras (Alumni and Corporate Relations) Professor Mahesh Panchaganula, CEO of IIT Madras, CEO of Institutional Advancement Office Kaviraj Nair and other faculty, researchers, Employees and students participated.
Who is Dr. Krishna Chivukula?
Dr. Krishna Chivukula graduated from IIT Madras with an MTech in Aerospace Engineering in 1997 and an MBA from Harvard Business School in 1980. After serving as Group Chairman and CEO of the Hoffman Group of Companies in New York, Dr. Chivukula founded two consecutive “World Number One” companies. He has established Shiva Technologies Inc. and Indo MIM Private Limited Company. They have also achieved significant progress in engineering manufacturing technology.
In 1997 he introduced a cutting-edge engineering manufacturing technique called ‘Metal Injection Molding (MIM)’ in India, while it was still an emerging technology in the US. Currently his company, Indo US MIM Tech, is ranked number one in the world in MIM technology in terms of capacity and sales and has an estimated turnover of around Rs 1000 crore.
Addressing a press conference on the occasion at IIT Madras, Professor V. Kamakoti, Director, IIT Madras, said, “That our alumni remember their alma mater even after several decades is a testament to Education is the only immortal wealth that we can give to mankind, which will benefit many future generations of students in their pursuit of knowledge.”
Speaking about his objectives of supporting his alma mater, Dr. Krishna Chivukula, Founder and CEO of Indo-MIM said, “My education at IIT Madras was not only extremely memorable and enjoyable, but it also taught me a lot in life. “And put me in a position where I could make a gift to the institute – the largest single donation ever made to a university in India!”
Thanking Dr. Krishna Chivukula, Professor Mahesh Panchaganula, Dean (Alumni and Corporate Relations), IIT Madras, said, “Dr. Krishna Chivukula is not only a successful technology businessman but also an ideal alumnus. His humility and generosity “Will serve as an exemplary attribute for alumni for generations to come.”
Largest donation in the history of IIT Madras
IIT Madras raised a record Rs 513 crore during the financial year 2023-24, which is 135% more than the previous year. The funds were raised through grants from alumni, CSR funds and corporate firms. The number of donors giving more than Rs 1 crore to the institute is 48 (16 alumni donors and 32 corporate partners). The total amount raised through alumni alone during 2023-24 was Rs 367 crore, an increase of 282% over the previous year.