US-Based IIT Bombay Alumni Body Donates $50 Million To Alma Mater

A US-based alumni group of the Indian Institute of Technology (IIT), Bombay has donated a whopping $50 million to its alma mater.

The IIT Bombay Heritage Foundation (IITBHF), a US based non-profit charity organisation established to support students, alumni, faculty, and research at IIT Bombay, said this during a virtual event attended by hundreds of leading alumni and past and current IIT-B directors, a media release said.

IITBHF celebrated 25 years of its alma mater on July 19.

According to the organisers, the amount of $50 million was collected from over 3,300 donors. The foundation has also helped establish the most recognisable IIT and IIT Bombay brands in the US and elsewhere.

It has supported 575 named scholarships benefiting nearly 5,000 students and funded the construction and establishment of 25 major centres, schools and laboratories.

"This is an occasion to remember our founding, rejoice in our achievements and renew ourselves for the future," said D C Agrawal, president IITB Heritage Foundation in his welcome address.

IIT Bombay Director Subhasis Chaudhuri lauded the Heritage Foundation's efforts for its far-reaching contributions over the last 25 years.

"Our success as the top ranked Indian Institute would not have been possible without the heartfelt and far-reaching support of IIT Bombay Heritage Foundation and the alumni donors," he said.

"What IITBHF has achieved over the last 25 years would not have been possible without the generous support of over 3300 alumni donors," said its current chair Raj Mashruwala.