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Pune, Aug 31 Mr Pramod Chaudhari, Chairman, Praj Industries, and his wife Parimal have made an endowment of Rs 1crore towards IIT Bombay to institute the Pramod Chaudhari Chair Professorship for Innovation & Entrepreneurship and for R&D in Biosciences and Bioengineering.

The endowment marks the golden jubilee celebrations of IIT Bombay as well as 25 years of Mr Chaudhari’s entrepreneurial journey.

The Chair will be for the Professor who will undertake research programmes, academic programmes and training in order to foster innovation and entrepreneurship.

On the occasion Mr Chaudhari commented, “I believe that innovation and entrepreneurship will drive our nation towards creating world-class organisations.

With a large trained and young population likely to come into the job market in the coming decade, it is necessary to provide opportunities. This time round, the highly skilled should stay back in the country and contribute to nation building.” Dr Ashok Misra, Director, IIT Bombay, received the endowment on behalf of the institution.

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