IITs tap foundations, alumni to drive fundraising efforts
Live MintThe prestigious Indian Institutes of Technology are facing a pressing challenge: a shortage of individuals adept at fundraising from companies and alumni. Mahesh Panchagnula, dean of, at IIT Madras, said the concept of alumni generously contributing to the institutions is still at a nascent stage in India. View Full Image Graphic: Mint “Fundraising by alumni and corporates is a nascent category in India compared to what US universities have witnessed over the years. A 2021 report in The Daily Princetonian said Harvard University got the highest endowment of $53.2 billion among the eight Ivy League institutions, followed by Yale and Princeton for the year ended 30 June 2021. The other reason why institutes like the IITs might miss out on fundraising opportunities is the primary allocation of corporate social responsibility funds for NGOs instead of educational institutions.
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