The premier institute generated more than ₹1,000 crores in funding for 2021-22.
What’s it about? IIT Madras has reached a significant milestone as it has generated more than ₹1,000 crores in funding for the first time in its history (₹768 crore from sanctioned projects and ₹313 crore from industrial consultancy). Previously, the institute sanctioned project funds worth ₹484 crores and got ₹230 crores from the industry in 2020-21, a good amount considering the pandemic. In 2019-20, it sanctioned project funds of ₹333 crores and received ₹237 crores from the industry.
- The projects were facilitated by a team at the centre for industrial consultancy and sponsored research (ICSR).
- Among the projects were educating through technology using DTH, the centre of excellence for road safety, and speech technologies in Indian languages.
Who said what? ICSR’s Manu Santhanam said IIT Madras has emerged as a leader in India in industrial consultancy. It has sponsored projects mostly from the computing and 5G sectors. He said industry funding has increased in recent years due to higher contributions in the form of corporate social responsibility (CSR). There are plans for outreach activities to increase industry contributions further.