Chennai: The Indian Institute of Technology Madras (IIT Madras) has received the largest single donation in its history of Rs 228 crore from its distinguished alumnus awardee Dr Krishna Chivukula (MTech, 1970). This donation is one of the largest ever made to an educational institution in India.
The institute named an academic block in honour of Dr Krishna Chivukula - ‘Krishna Chivukula Block’ - during an event at the campus on August 6. The event was attended by Dr. Krishna Chivukula, Prof. V. Kamakoti, Director, IIT Madras, Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, Kaviraj Nair, CEO, Office of Institutional Advancement, IIT Madras, faculty, researchers, staff, and students, it said in a release.
Dr Chivukula in 1997 brought to India a state-of-the-art engineering manufacturing technology called ‘Metal Injection Molding (MIM)’ while it was still an emerging technology in the US. Presently his company, the INDO US MIM Tec, occupies the number one position in the world in MIM technology in terms of capacity and sales and has a projected turnover of nearly Rs. 1,000 crore, the statement added.
IIT Madras recognised his professional excellence and contributions to the community by conferring the ‘Distinguished Alumnus Award’ in 2015.
Prof. V. Kamakoti said, "That our alumnus still remembers his alma mater after several decades reinforces the fact that education is the only immortal wealth that we can give to mankind. Grateful to Krishna Chivukula for his big contribution, which will benefit several future generations of students in their pursuit of knowledge.”
Dr. Chivukula, Founder and CEO, Indo-MIM, 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."
This donation will be utilised for multiple purposes including supporting international students to study at IIT Madras through a scholarship, a research excellence grant program, a UG fellowship program for freshers at IIT Madras, Sports Scholar Program, Shaastra Magazine development and the Krishna Chivukula Block Maintenance, among other activities, the statement said.
Prof. Mahesh Panchagnula said, "Dr Chivukula is not just a successful techno-businessperson but also of an ideal alumnus. His humility and generosity will stand as exemplar characteristics for generations of alumni."
Kaviraj Nair added, “We are profoundly grateful to Dr. Chivukula for his extraordinary generosity and unwavering commitment to our institution. His monumental contribution, the largest ever single donation received by IIT Madras, stands as a testament to his dedication to fostering excellence in education, research, and innovation."
DONOR BACKGROUND
Dr. Chivukula graduated with an M. Tech (Aerospace Engineering), majoring in Jet Propulsion in 1970 from IIT Madras. In addition, he received an MBA from The Harvard Business School in 1980. After a stint as Group President and CEO at the Hoffman Group of Companies in New York, Chivukula founded two “world number one” companies in succession. Shiva Technologies Inc. in 1990 specialising in Advanced Mass Spectroscopy to certify ultrahigh purity materials and Indo MIM Pvt Ltd in Bengaluru to produce small metal and ceramic components with complex geometries in high volumes.
FUNDRAISING BY IIT MADRAS
IIT Madras raised a historic high of Rs. 513 crore during 2023-24, a 135 per cent increase from the previous financial year. In recent years, IIT Madras has emerged as a National Leader in ‘Tech Driven CSR’ through which the Institute is translating the cutting-edge research underway in its labs to actual products that benefit the society and country at large with support from the alumni, donors and corporate firms, the statement added.
The number of donors giving over Rs one crore to the Institute is 48 (16 alumni donors and 32 corporate partners). The funds were raised from IIT Madras alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as multinational corporate firms.
The total amount raised through alumni alone during 2023-24 was Rs 367 crore, which is an increase of 282 per cent compared to the previous year. Their focus areas included cutting-edge research across various social impact themes, infrastructure, and scholarships for students besides establishing Chair Professorships for research in specific areas, it said.
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