IIT Madras has received the largest from one of its Alumnus Krishna Chivukula (MTech, 1970).The amount in Indian Rupee is 228 crore. He is the founder of Indo US MIM Tec in Bengluru that produces small metal and ceramic components with complex geometries in high volume.
Krishna Chivukula did graduation in M. Tech (Aerospace Engineering), majoring in Jet Propulsion in 1970 from IIT Madras. In addition, he holds an MBA from The Harvard Business School in 1980.
Krishna brought the engineering manufacturing technology to India in 1997 which is called Metal Injection Molding (MIM). The metal injection molding process is the combination of design flexibility of plastic injection molding with the strength and integrity of wrought metal that offers cost effective solution for highly complex part geometries.
The technology was still an emerging technology in the US. Presently his company is a leader in MIM technology in terms of capacity and sales and has a projected turnover of nearly ₹1,000 crore, says a release.
IIT Madras in the honour of its donor named an academic block on Krishna Chivukula – Krishna Chivukula Block.
This donation will be used for various purposes that includes supporting international students to avail scholarship to study at IIT Madras,Research Excellence,Sports Scholar Programme,Shaastra magazine development and Krishna Chivukula Block maintenance.
What led to the donation to this Chivukula told newspersons that donation makes him happy and he donated in his personal capactiy. Happiness helps in leading a healthy life. I also studied at IIT Bombay and I would be donating to that institute too. I hope the donation creates a spark among entrepreneurs and philanthropists, and they will donate to various institutions in India,” he added.
In the past IIT Madras raised a historic high of ₹513 Crore during 2023-24, a 135 per cent increase from the previous financial year. The number of donors giving over ₹1 Crore to the Institute was 48 (16 alumni donors and 32 Corporate Partners). The funds were raised from IIT Madras alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as Multinational Corporate firms, says the release.
The total amount raised through alumni alone during 2023-24 was ₹367 Crore, which is an increase of 282 per cent compared with the previous year, the release said.