The 1998 batch of the Indian Institute of Technology Bombay (IIT-B) has gifted Rs 57 crore to their alma mater, shattering all previous records for single-class donations. This contribution marks the highest sum ever donated by a single batch in IIT-B's history, surpassing the previous record of Rs 41 crore set by the Class of 1971 during their golden jubilee celebrations.
The funds raised by the 1998’s batch will contribute to critical academic and research projects at the Institute. These initiatives encompass Project Evergreen, focused on establishing environmentally sustainable hostels; Makerspace labs to promote scientific and technological innovation, including an AI micro factory; and Student Aid initiatives, including scholarships, to support the aspirations of future students.
Additionally, proceeds will be used to establish an endowment fund and fund projects at the Centre for Machine Intelligence and Data Minds (C-MinDS).
Over 200 alumni, including prominent global executives such as Anupam Banerjee, MD of Vector Capital; Apoorv Saxena, Managing Director at Silver Lake; Dileep George from AI Research at Google Deepmind; Mohan Lakhamraju, CEO of Great Learning; Shailendra Singh, Managing Director at Peak XV; and Srikant Shetty, Chief Growth Officer, Americas at HCL, made substantial contributions to the funds.
"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," Subhasis Chaudhuri, Director, IIT Bombay said.
A combined quote from the reunion's leaders - 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.”
Meanwhile IIT Bombay said in a statement that even though the amount is comparatively smaller, the efforts taken by the older batch of '73 matters equally.