Infosys co-founder Nandan Nilekani on Tuesday donated Rs 315 crore to his alma mater, the Indian Institute of Technology, Bombay. With this, his overall contribution to the institute has gone up to Rs 400 crore, as he had earlier donated Rs 85 crore.
According to a statement, the donation, which was made to mark 50 years of his association with the institute, is to fund world-class infrastructure, research in emerging areas of engineering and technology, and a deep tech startup ecosystem at IIT Bombay.
Nilekani joined IIT Bombay in 1973 for a Bachelor’s degree in electrical engineering.
Speaking about the donation, Nilekani said, “IIT-Bombay has been a cornerstone in my life, shaping my formative years and laying the foundation for my journey. 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.”
The Rs 315 crore is part of the institute’s plan to raise $500 million in the next five years. In the next decade, IIT-Bombay plans to set up world-class centres of excellence in areas such as artificial intelligence, green energy, quantum computing and others, through which it wants to nurture a deep tech startup eco-system and provide best-in-class research, living, and academic facilities to students and faculty.
According to IIT Bombay director Prof Subhasis Chaudhuri, the donation will significantly accelerate the institute’s growth and will firmly set it on a path of global leadership.
Nilekani’s previous contribution of Rs 85 crore was instrumental in constructing new hostels, co-financing the School of Information Technology and establishing India’s first university incubator, the statement added.