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IIT Kanpur to launch billion-dollar quest to power future technologies
Defence minister Rajnath Singh will unveil ‘The IIT Kanpur Campaign’ at an event in New Delhi on October 14
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The Indian Institute of Technology, Kanpur (IIT-K) is all set to launch an ambitious fundraising campaign, said to be one of the largest in IIT history, to raise USD 1 billion to focus on seven strategic areas: cybersecurity, medtech, social security, sustainability, semiconductors, drones and quantum technologies.
Confirming this, Manindra Agrawal, director of IIT Kanpur, said, “We are aiming for a very ambitious target of raising USD 1 billion through various initiatives within the institute. We have raised half the amount. We are reaching out to donors to fund our research work.”
He said the institute aims to raise the rest of the amount over the next two-and-a-half years from the government, industry, corporate social responsibility (CSR) initiatives, alumni and other donors.
In a social media post shared on Monday, the institute announced that defence minister Rajnath Singh will unveil ‘The IIT Kanpur Campaign’ at an event to be held at Bharat Mandapam, New Delhi, on October 14.
“Singh’s presence adds significance to this milestone as IIT Kanpur prepares to embark on an ambitious new chapter, advancing education, research, deep-tech innovation and technology-led nation building. A defining moment is on the horizon. A bold vision for IIT Kanpur’s future is about to take shape. Watch this space for what lies ahead,” the IIT-K social media post reads.
A professor said that regular government funding, including support from the education ministry, largely covers salaries and maintenance, requiring the institute to seek additional resources through fundraising for new initiatives, research infrastructure and recruiting highly talented people.
“If the institute is to keep pace with international standards, we need to raise funds to support research and initiatives. We must recruit talented people and provide them with necessary research infrastructure support. Government funds alone are not sufficient for all this,” he said.
“IIT Kanpur needs additional hostel beds, state-of-the-art academic buildings and the renovation of existing infrastructure. Several campus buildings are more than 60-years-old and require upgrades to support research and development,” he added.
Through the campaign, the institute aims to present a comprehensive vision for its future growth and technological research. However, detailed information regarding the proposed plans, objectives, and financial provisions of the campaign has not yet been disclosed.
