Beyond the government funding, the IITs, especially the older ones, are increasingly looking at industry support, donations from past students and endowments to accelerate their growth and achieve desired expansion.
Rakesh Gangwal, the co-founder of IndiGo Airlines, on April 4 committed to contributing Rs 100 crore to the Indian Institute of Technology, Kanpur (IIT-Kanpur).
The corpus will be utilised for the School of Medical Sciences and Technology, a new school that IIT Kanpur is already building. The commitment is in a personal capacity.
Gangwal will be joining the advisory board of the upcoming school.
The IIT-Kanpur had last year announced to open a school of medical research and technology, which will have a medical school along with a super-specialty teaching hospital as they seek to become multidisciplinary and make engineering, technology, and medical research complement each other.
