One of the largest ever donations made to any educational institution, this donation will support research, international students to study in IIT Madras and student scholarships
CHENNAI : 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 today (6th August 2024). The event was attended by Dr. Krishna Chivukula, Prof. V. Kamakoti, Director, IIT Madras, Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, Mr. Kaviraj Nair, CEO, Office of Institutional Advancement, IIT Madras, faculty, researchers, staff, and students
Dr. Krishna 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 U.S. 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.
IIT Madras recognized his professional excellence and contributions to the community by conferring the ‘Distinguished Alumnus Award’ during 2015.
Addressing a Press Conference on the occasion, Prof. V. Kamakoti, Director, IIT Madras, 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 Shri Krishna Chivukula for his big contribution, which will benefit several future generations of students in their pursuit of knowledge.”
Speaking about his motivations for supporting his Alma Mater, Dr. Krishna 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 utilized for multiple purposes including supporting international students to study at IIT Madras through a Scholarship, Research Excellence Grant Program, an UG Fellowship Program for freshers at IIT Madras, Sports Scholar Program, Shaastra Magazine development and the Krishna Chivukula Block Maintenance, among other activities.
Thanking Dr. Krishna Chivukula for his generous gesture, Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, said, “Dr. Krishna 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.”
The Office of Institutional Advancement, which is responsible for this outreach, is an initiative of the IIT Madras Alumni Charitable Trust.
Mr. Kaviraj Nair, CEO, Office of Institutional Advancement, IIT Madras, added, “We are profoundly grateful to Dr. Krishna Chivukula, an esteemed alumnus of IIT Madras, 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. Dr. Krishna Chivukula’s visionary support will significantly enhance our capabilities and propel IIT Madras to new heights. His contribution not only elevates our institution but also serves as an inspiring example of how our alumni community continues to drive meaningful change.”
DONOR BACKGROUND
Dr. Krishna Chivukula graduated with a 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, Mr. Chivukula founded two “world number one” companies in succession. Shiva Technologies Inc. in 1990 specializing 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% 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 number of donors giving over Rs. 1 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% 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.