IIT Bombay Class of '98 donates a record Rs 57 crore to alma mater

The contributions to IIT-Bombay were made by over 200+ alumni

Indian Institute of Technology-Bombay (IIT-B)’s class of 1998 has gifted Rs 57 crore to its alma mater as part of the Silver Jubilee reunion celebrations.

⁠This is the highest combined contribution by a single class, breaking the previous record of Rs 41 crore by the Class of 1971 for their golden jubilee celebration.

The contributions were made by over 200+ alumni including major donations from top global executives Anupam Banerjee, MD, Vector Capital; Apoorv Saxena, Managing Director, Silver Lake; Dileep George, AI Research, Google Deepmind; Mohan Lakahmraju, CEO, Great Learning; Shailendra Singh, Managing Director, Peak XV; and Srikant Shetty, Chief Growth Officer, Americas, HCL; Sandesh Joshi, Co-founder and CEO, Indovance among others.

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Subhasis Chaudhuri, Director, IIT Bombay, said that he is deeply grateful to the Class of 1998 for their generosity, which will help accelerate IIT-B’s growth and contribute to the shared vision of excellence. "Bound by a collective spirit and a shared commitment, the Class of 1998’s contribution has left a significant mark on their legacy at their alma mater. Their dedication to IIT Bombay demonstrates the enduring bonds forged during their formative years and serves as an inspiration for all alumni. Together, we are shaping a future where IIT Bombay will stand amongst the world's top universities, fuelled by the collective efforts of our diverse and accomplished community," Chaudhuri said.

The funds raised by the Class of 1998 will help the Institute support key academic and research projects. These include Project Evergreen, which aims to create sustainable and eco-friendly hostels for students; Makerspace labs to foster scientific and technological innovation and creativity including a new AI micro factory; and Student Aid initiatives (including Scholarships) to fuel the aspirations of the next generation of students at the Institute.

There are also plans to create the first-of-its-kind endowment fund from the proceeds, and to fund projects at the Centre for Machine Intelligence and Data Minds (C-MinDS).

On behalf of the class, a joint quote from the leads of the reunion - Amit Khandelwal, Apoorv Saxena, Ashutosh Gore, and Sharad Goenka read, “We are a very diverse batch, with people spread across 100+ cities across the world and are involved in startups to corporates, social causes and non-profits. But we all share some great memories and timeless bonds that were forged during the formative years of our lives and sustained through many family visits and connections over the years. This year when we got together there was another big focus for us: the spirit of giving back inspired by alumni such as Nandan Nilekani and previous silver jubilee batches. We are glad all this came together in this record raise supported by all the donors and the volunteers. We hope this helps to make IIT Bombay one of the premier global universities in the coming years and inspires other alumni to give back as well.”

Additionally, the Golden Jubilee Batch (Class of ‘73) also pledged a total of Rs 7.15 crore for two projects - C1973 EV Power Train Laboratory and C1973 Faculty Awards for Excellence in Research.

On behalf of the class, a joint quote from alumni members from batch of 1973 Deepak Gupte and Rajendra Bhinge read,“Our batch meticulously reviewed various ongoing projects at the institute to determine the best fit for their legacy initiative. After careful consideration, the EV Power Train Lab and Faculty Award for Research Excellence emerged as the chosen projects due to their potential impact. This pivotal step marked a significant stride in recognizing and encouraging outstanding research within the institute. This strategic choice not only aligns with our commitment to excellence but also sets the stage for a transformative era of innovation and academic achievement at the institute”

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