IIT Bombay Class of 1998 donates Rs 57 crore to alma mater

NEW DELHI: Indian Institute of Technology (IIT Bombay) Class of 1998 has given an endowment of Rs 57 crore to the alma mater as part of the silver jubilee reunion celebrations.

An X (formerly known as Twitter) user mentioned that this is the highest combined contribution by a single class. The endowment has broken the previous record of Rs 41 crore by the Class of 1971 for their golden jubilee celebration.

The contributions have been made by more than 200 alumni including Anupam Banerjee, MD, Vector Capital; Apoorv Saxena, managing director, Silver Lake; Dileep George, AI researcher, Google Deepmind; Mohan Lakahmraju, CEO, Great Learning; Manu Varma, SVP, Colopast; Sundar Iyer, Seasoned Silicon Valley entrepreneur; Sandeep Joshi, co-founder and CEO, Indovance; Shailendra Singh, managing director, Peak XV; and Srikant Shetty, chief growth officer, Americas, HCL.

“The funds raised by the Class of 1998 will help the Institute support key academic projects and the research landscape at IIT Bombay. They include Project Evergreen, which aims to create sustainable and eco-friendly hostels for students; Makerspace labs to foster scientific and technological innovation and creativity including a new AI micro factory; and Student Aid initiatives (including Scholarships) to fuel the aspirations of the next generation of students at the Institute,” Srikanth said.

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There are also plans to create the first-of-its-kind endowment fund from the proceeds, and to fund projects at the Centre for Machine Intelligence and Data Minds (C-MinDS), the X user said.