The single tranche donation has been made by Dr Krishna Chivukula, Founder & Chairman of Bangalore based INDO-MIM Limited, a global leader in precision Metal Injection Moulded (MIM) parts and components
It will support a range of initiatives, including research endeavours, scholarships for international students, and undergraduate fellowship programmes at IIT Madras
Earlier this year Ruth Gottesman, a 93-year-old widow of a Wall Street financier donated a whopping US$ 1 billion (approx. Rs 8400 crore INR) to a lesser visible US medical school, the Albert Einstein College of Medicine in New York, where she herself was a former professor, to cover tuition for all students going forward.
ADVERTISEMENT
It was one of the largest charitable donations ever to any educational institution in the United States and probably the world and was met with elation from the medical students burdened with very high tuition fee and other expenses.
The donation set an example on how large-scale philanthropy can really make an impact in opening up higher education to more deserving students.
Here in India, Dr. Krishna Chivukula, an alumnus of IIT Madras, has made to the institution its largest ever single donation of Rs 228 crore in one tranche. The donation will support a range of initiatives, including research endeavours, scholarships for international students, and undergraduate fellowship programmes at IIT Madras.
Dr Chivukula is Founder & Chairman of Bangalore based INDO US MIM Tec Pvt. Ltd, a global leader in precision Metal Injection Moulded (MIM) parts and components used in various industries like Defence, Automotive, Consumer, Medical, Aero, etc. with a turnover of over Rs 1,000 crore.
Advertisement
Sharing his thoughts with faculty, researchers, students, and guests in a ceremony organised on the IIT Madras campus on August 6, he said, “My education at IIT-Madras, in addition to being extremely memorable and enjoyable, enabled me to accomplish much in life and put me in a position whereby I can give back to the Institute a gift – one of the largest single donations to date to a university in India.”
Reciprocating his gesture, IIT-Madras named an academic block in honour of Dr Chivukula.
About Dr Krishna Chivukula
Dr. Krishna Chivukula graduated with a M. Tech. in Aeronautical Engineering from IIT Madras in 1970, following a B. Tech. (Honors) in Mechanical Engineering from IIT Bombay in 1968. He received an MBA from Harvard University in 1980 and was awarded a Doctor of Letters (D. Lit.) degree from Tumkur University in 2012.
Dr. Krishna Chivukula rapidly rose though the engineering ranks of Hoffman Industries in USA to become Chief Engineer in 1976. In 1984, after his Harvard MBA, he returned to Hoffman Industries as Group President and CEO, but left in 1990 to start his first company, Shiva Technologies Inc., in Syracuse, New York. Under his leadership, Shiva Technologies grew to # 1 position in the world in trace element analysis using advanced mass spectroscopic techniques. In 1997, Shiva Analyticals Pvt. Ltd. was established in Bangalore.
Also in 1997, Dr. Krishna Chivukula brought state-of-the-art engineering manufacturing technology – metal injection moulding (MIM) – to India, while it was still an emerging technology in USA, by starting a second company – INDO US MIM Tec Pvt. Ltd. – in Bangalore.
Currently, INDO US MIM Tec occupies the number one position in the world in MIM technology in terms of capacity and sales, employing over 2000 highly qualified personnel. The firm is the only large scale MIM industry in India and has a projected turnover of nearly Rs. 1000 Crores.
A third company, Gowri Ventures, was started in 2009 in Renigunta with specialization in high – precision investment castings.
(Credit IIT Madras website)
