Chennai: The prestigious Indian Institute of Technology Madras (IIT-M) on Tuesday received the largest single donation in its history of Rs 228 crore from its alumnus, Dr Krishna Chivukula, M. Tech student of the 1970 batch. It is one of the largest ever donations made to an educational institution in the country.
As a recognition of his financial contribution, the IIT-M on Tuesday named an academic block in honour of Dr Krishna Chivukula at an event. Dr Krishna Chivukula in 1997 brought to India a state-of-the-art engineering manufacturing technology called ‘Metal Injection Molding (MIM)’ while it was still an emerging technology in the US.
Presently his company, the INDO US MIM Tec, occupies the number one position in the world in MIM technology in terms of capacity and sales and has a projected turnover of nearly Rs 1,000 crore. IIT-M recognized his professional excellence and contributions to the community by conferring the ‘Distinguished Alumnus Award’ in 2015.
“That our alumnus still remembers his Alma Mater after several decades reinforces the fact that education is the only immortal wealth that we can give to mankind. Grateful to Shri Krishna Chivukula for his big contribution, which will benefit several future generations of students in their pursuit of knowledge,” IIT-M Director Prof. V Kamakoti said.
IIT-M raised a historic Rs 513 crore during 2023-24, a 135 per cent increase from the previous financial year.
Dr Krishna Chivukula said, "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."
This donation will be utilized for multiple purposes including supporting international students to study at IIT-Madras through a Scholarship, Research Excellence Grant Program, a UG Fellowship Program for freshers at IIT Madras, Sports Scholar Program, Shaastra Magazine development and the Krishna Chivukula Block Maintenance, among other activities.
Dr Krishna Chivukula graduated with an M. Tech (Aerospace Engineering), majoring in Jet Propulsion in 1970 from IIT-M and he received an MBA from The Harvard Business School in 1980.
After a stint as Group President and CEO at the Hoffman Group of Companies in New York, Chivukula founded two “world number one” companies in succession. Shiva Technologies Inc in 1990 specializing in Advanced Mass Spectroscopy to certify ultra-high purity materials and Indo MIM Pvt Ltd in Bengaluru to produce small metal and ceramic components with complex geometries in high volumes.