IIT Madras Receives Record Rs. 228 Crore Donation from Alumnus Dr Krishna Chivukula
The Indian Institute of Technology Madras (IIT Madras) has received its largest-ever donation of Rs. 228 crore from its alumnus, Dr Krishna Chivukula, who graduated with an MTech in 1970. This donation is one of the largest ever made to an educational institution in India.
Event Highlights
During an event at the IIT Madras campus, an academic block named ‘Krishna Chivukula Block’ was inaugurated in honor of Dr Krishna Chivukula. The event was attended by Dr Krishna Chivukula, Prof V Kamakoti (Director, IIT Madras), Prof Mahesh Panchagnula (Dean of Alumni and Corporate Relations), Mr Kaviraj Nair (CEO, Office of Institutional Advancement, IIT Madras), along with faculty, researchers, staff, and students.
About Dr Krishna Chivukula
In 1997, Dr Krishna Chivukula introduced ‘Metal Injection Molding (MIM)’ technology to India, which was then an emerging technology in the U.S. His company, INDO US MIM Tec, is now the global leader in MIM technology in terms of capacity and sales, with a projected turnover of nearly Rs. 1,000 crore. IIT Madras recognized his professional excellence by awarding him the ‘Distinguished Alumnus Award’ in 2015.
Utilization of the Donation
The Rs. 228 crore donation will be used for various purposes, including:
- Supporting international students through scholarships
- Research Excellence Grant Program
- Undergraduate Fellowship Program for freshers
- Sports Scholar Program
- Development of Shaastra Magazine
- Maintenance of the Krishna Chivukula Block
The Office of Institutional Advancement, an initiative of the IIT Madras Alumni Charitable Trust, is responsible for this outreach.
Doubts Revealed
IIT Madras -: IIT Madras is a famous engineering college in India. It stands for Indian Institute of Technology Madras.
Rs. 228 crore -: Rs. 228 crore is a very large amount of money. In Indian currency, 1 crore equals 10 million, so 228 crore is 2.28 billion rupees.
Alumnus -: An alumnus is a person who has graduated from a school or college. Dr Krishna Chivukula studied at IIT Madras before.
Dr Krishna Chivukula -: Dr Krishna Chivukula is a former student of IIT Madras who donated a lot of money to the college. He is also a successful businessman.
Scholarships -: Scholarships are financial aids given to students to help them pay for their education. They don’t have to pay this money back.
Research grants -: Research grants are funds given to support scientific studies and experiments. They help researchers buy equipment and materials.
Sports scholarships -: Sports scholarships are financial aids given to students who are good at sports. This helps them continue their education while playing sports.
Academic block -: An academic block is a building in a school or college where classes and other educational activities happen.
INDO US MIM Tec -: INDO US MIM Tec is a company that makes things using Metal Injection Molding technology. This technology helps create small, complex metal parts.
Metal Injection Molding -: Metal Injection Molding is a way to make small metal parts by injecting metal powder into a mold. It’s used to make things like phone parts and medical devices.