Infosys co-founder and chairman Nandan Nilekani on Tuesday announced a donation of Rs 315 crore to his alma mater Indian Institute of Technology-Bombay, which he had joined in 1973 to obtain a Bachelor's degree in electrical engineering.
The donation will aid the institute in realizing its goal of building world-class infrastructure, stimulating research in emerging areas of engineering and technology, garnering global leadership in technological fields, and nurturing a deep tech startup ecosystem, a joint press release by IIT-B and Nilekani noted. Nilekani has now donated a total of Rs 400 crore through the years to IIT-B.
“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,” Nilekani said in the release.
His previous contribution of Rs 85 crore was well utilized by the leading IIT to build new hostels, co-finance the School of Information Technology, and establish India's first university incubator for the startup ecosystem.
The institute’s upcoming plans include setting up centres of excellence in emerging technologies such as artificial intelligence, green energy, and quantum computing while improving the educational and living facilities provided to students, which would require raising funds to the tune of $500 million.