IIT Delhi announces scholarships, seed funding to mark Alumni Endowment Fund’s 2nd anniversary

NEW DELHI: Indian Institute of Technology announced Endowment Merit Scholarship and Endowment Nature Fund to mark the second anniversary of its Alumni Endowment Fund.

IIT Delhi established the IIT Delhi Endowment Fund on October 31, 2019 which was launched by President of India, Ram Nath Kovind at the Rashtrapati Bhavan. The institute will celebrate the second anniversary on October 31.

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“Marking the milestone occasion, the Endowment Fund Board - the governing body of the Fund comprising both alumni and administrative members of IIT Delhi - has announced, as its initial programs, establishment of the “Endowment Merit Scholarships” and the “Endowment Nurture Fund”, encouraging diversity in scholastic excellence and entrepreneurship amongst its students, as the institute goes further in realising its 2030 vision and strategy,” said a press statement.

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The Endowment Merit Scholars Program will sponsor 15 women and 15 men pursuing BTech/Dual degree for each year i.e. 1st ,2nd, 3rd and 4th by provide 120 merit scholarships every year.

The Endowment Nurture Fund will offer graduating students the opportunity to be awarded seed funding for their proposed ventures. The Nurture Fund aims to encourage the IIT graduates to nurture their entrepreneurial ideas and aspirations, rather than seeking job placement.

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The IIT Delhi's Endowment Board is currently committing Rs 3.20 Cr annually from earnings of the endowment corpus. The board expects the amounts and awardees to grow in the upcoming years.

Congratulating the Endowment Board members and founders V. Ramgopal Rao, director, IIT Delhi and chairman of the Endowment Fund Board said, “IIT Delhi has taken a historic step with the establishment of the Endowment Fund, and it is encouraging to receive the collective support of our alumni towards the realisation of the Institute’s vision. The Endowment initiative has also helped the Institute connect with the alumni at a deeper level and engage them on a variety of activities.”