Top engineering colleges hit the fund trail to boost research, infrastructure
BITS Pilani and Indian Institutes of Technology (IITs) Delhi, Madras and Kanpur, among others, are looking to fill their coffers through efforts such as donation campaigns, encouraging collective donations through chapters or batches, organising leadership delegations to countries where alumni reside, increased reunions and alumni get-togethers, encouraging high net-worth donors to set up centres of excellence, forging close connections with companies for corporate social responsibility (CSR) funding and setting up alumni chairs.
Aiming high
BITS Pilani is targeting funding of ₹55 crore in this financial year, compared to ₹1 crore per year it raised prior to 2018, with a goal to raise $100 million (about ₹850 crore) in four years. IIT Kanpur has received funding commitments of more than ₹750 crore in the past three years, and it has plans to quadruple its funding over the next five years. IIT Delhi is looking to hit the ₹1,000 crore mark for its endowment fund in the coming years. It has received a couple of donations in excess of ₹50 crore each.
«In the years to come, funding through endowment would play a critical role in investment by higher education institutions in strategic thrust areas that would be a differentiating factor for their growth,» said Arya Kumar, senior professor, Department of Economics and Finance, BITS Pilani, Pilani Campus.
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