Nandan Nilekani Donates USD 38.5 Million to IIT Bombay to Support its Vision to be a Global Leader in Technology and Engineering

The donation marks Nilekani's 50-year association with the Institute and will fund world-class infrastructure, research in emerging areas of engineering and technology, and a deep tech startup ecosystem at IIT Bombay

BANGALORE, India and MUMBAI, India, June 21, 2023 /PRNewswire/ -- Nandan Nilekani, Co-Founder and Chairman of Infosys Ltd. and Founding Chairman of UIDAI, has donated USD 38.5 Million to his alma mater, Indian Institute of Technology (IIT) Bombay. This substantial contribution builds upon his previous grants of INR 85 Crores to the Institute, bringing the cumulative value of his support to INR 400 Crores. The donation will be instrumental in fostering world-class infrastructure, stimulating research in emerging areas of engineering and technology, and nurturing a deep tech startup ecosystem at IIT Bombay.

The Memorandum of Understanding was formally signed today in Bengaluru by Nandan Nilekani and Prof. Subhasis Chaudhuri, Director, IIT Bombay. This significant contribution serves as the anchor for IIT Bombay's ambitious vision to become a global leader among engineering and technology institutes and contribute significantly towards nation-building.

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. It also stands as one of the largest donations made by an alumnus in India.  

Speaking about the donation, Nandan Nilekani said, "IIT Bombay has been a cornerstone in my life, shaping my formative years and laying the foundation for my journey. As I celebrate 50 years of my association with this esteemed Institution, I am grateful to give forward and contribute to its future. This donation is more than just a financial contribution; it is a tribute to the place that has given me so much and a commitment to the students who will shape our world tomorrow."

Pegging it as the beginning of a new era of IIT Bombay, Director Prof. Subhasis Chaudhuri said, "We are extremely delighted to see our illustrious alumnus Nandan Nilekani, continuing his foundational & pioneering contributions to the Institute. This historic donation will significantly accelerate the growth of IIT Bombay and will firmly set it on a path of global leadership. IIT Bombay is committed to building research and academic excellence that can make India a leader in scientific discovery and its translation towards solving the pressing challenges facing humankind. Nandan's contribution will catalyse philanthropic contributions towards advancing research & development at universities in India."

Nilekani's initial contribution totalling up to INR 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 startup ecosystem.

IIT Bombay's strategic plan for the coming decade includes setting up world-class centres of excellence in strategic areas such as AI, green energy, quantum computing & others, nurturing a deep tech startup ecosystem, and providing best-in-class research, living, and academic facilities to students & faculty. The plan envisages fundraising of about USD 500 million over the next five years. Nilekani's anchor contribution of USD 38.5 Million will help the Institute kick-start its plans and inspire others to join this transformative initiative. 

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SOURCE Nandan Nilekani