This contribution builds upon his previous grants of ₹85 crores to the Institute, bringing the cumulative value of his support to ₹400 crore. The donation will be instrumental in fostering infrastructure, stimulating research in emerging areas of engineering and technology, and nurturing a deep tech start-up ecosystem at IIT Bombay.
The Memorandum of Understanding was formally signed on Tuesday in Bengaluru by Nandan Nilekani and Prof. Subhasis Chaudhuri, Director, IIT Bombay.
Nilekani joined IIT Bombay in 1973 for a Bachelor’s degree in electrical engineering. The donation marks the golden jubilee of Nilekani’s association with the Institute and reflects the deep bond he continues to share with his alma mater.
Over the last 50 years, Nilekani has stayed connected with the Institute in multiple roles. He served on the Board of the IIT Bombay Heritage Foundation from 1999 to 2009 and was on the Board of Governors from 2005 to 2011. His initial contribution, totalling up to 85 crores over the years, was instrumental in constructing new hostels, co-financing the School of Information Technology, and establishing India’s first university incubator, thereby significantly boosting the Indian start-up ecosystem. He was awarded the Distinguished Alumnus Award in 1999, followed by an Honorary Doctorate in 2019 as part of the 57th convocation of IIT Bombay.
IIT Bombay’s plan for the coming decade includes setting up centres of excellence in Artificial Intelligence, green energy, quantum computing, and others, nurturing a deep tech start-up ecosystem, and providing research, living, and academic facilities to students and faculty. The plan envisages fundraising of about $500 million over the next five years. Nilekani’s anchor contribution will help the Institute kick-start its plans and inspire others to join this transformative initiative.