According to the university, the Endowment Board of the Indian Institute of Technology-Delhi (IIT-D) has committed Rs 3.20 crore annually from the endowment corpus’s earnings. Endowment Nurture Fund wants to give graduating students the chance to receive seed money for the new ventures they have in mind.
Key Highlight:
- President Shri Ram Nath Kovind launched the Endowment Fund in 2019.
- Endowment Nurture Fund wants to give graduating students the chance to receive seed money for the new ventures they have in mind.
- “Endowment Merit Scholars Program” will award 120 merit scholarships to B.Tech/Dual degree students each year, IIT-D announced.
For its second anniversary, the Indian Institute of Technology (IIT) Delhi Endowment Fund Board announced the creation of the “Endowment Merit Scholarship” and the “Endowment Nurture Fund,” respectively.
By then, IIT Delhi’s Endowment Fund will have been in place for two years, until October 31, 2021.”
President Shri Ram Nath Kovind launched the Endowment Fund in 2019, and it’s already setting an example for other educational institutions. The Endowment Fund Board, which oversees the Fund and is made up of alumni and administrative members from IIT Delhi, has announced, as its initial programs, the establishment of the ‘Endowment Merit Scholarships’ and the ‘Endowment Nurture Fund,’ encouraging diversity in scholastic excellence and entrepreneurship amongst its students.
“Endowment Merit Scholars Program” will award 120 merit scholarships to B.Tech/Dual degree students each year, the institute announced.
According to a statement from the Endowment Nurture Fund website, graduate students will have the opportunity to receive seed funding for their proposed ventures, which will help them pursue their entrepreneurial ideas and aspirations rather than just looking for a job. “We expect the amounts and awardees to grow further in the years ahead,” according to IIT-D, which said the Endowment Board was committing Rs 3.20 crore annually from endowment corpus earnings.”
Founder and Director V Ramgopal Rao said on the fund’s second anniversary: “IIT Delhi has taken a historic step by establishing an Endowment Fund, and it is heartening that our alumni have come together to support IIT Delhi in realizing its vision. It has helped the Institute connect with its alumni deeper and engage them in numerous activities because of the Endowment initiative.
“With the growing contributions from our 54,000 global alumni, we will support many more programs, fostering research advancements and technological innovation,” Fund Co-Chairman Arun Duggal said when announcing the new initiatives.
The President of India, Shri Ram Nath Kovind, launched Endowment Fund of Indian Institute Technology (IIT) Delhi at Rashtrapati Bhavan. pic.twitter.com/86AIgQEBwY
— IIT Delhi (@iitdelhi) October 31, 2019
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