Infosys Co-founder Nandan Nilekani donates Rs 315 Cr to IIT Bombay

Infosys Co-founder and Chairman Nandan Nilekani has donated Rs 315 crore ($38.5 million) to his alma mater, Indian Institute of Technology (IIT) Bombay, to mark his 50-year association with the premier education institute where he joined as a student in 1973.

The latest contribution takes Nilekani's total corpus donation to Rs 400 crore as he had earlier given grants of Rs 85 crore to the institute. The funding will go into research in emerging areas of engineering and technology, and nurturing a deeptech startup ecosystem at IIT Bombay.

On 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.”

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Nilekani is among the leading technology entrepreneurs from India having been part of the founding team of Infosys. He was also the former chairman of UIDAI, popularly known as Aadhaar. He has also been associated with various public service initiatives besides being an investor in startups.

Over the last 50 years, Nilekani has remained connected with the institute in multiple roles. He served on the Board of the IIT Bombay Heritage Foundation from 1999 to 2009, and was on the Board of Governors from 2005 to 2011. His initial contribution, totalling Rs 85 crore, provided over the years was used for constructing new hostels, co-financing the School of Information Technology, and establishing a startup incubator.

IIT Bombay aims to set up centres of excellence in areas such as artificial intelligence, green energy, and quantum computing, among others. The plan envisages fundraising about $500 million over the next five years towards this initiative.