IIM-A attracts Rs 38 crore from alumni
By Ruchi Shrimali
The silver jubilee celebrations of IIM Ahmedabad, saw its alumni pledging a corpus of Rs 38 crore, including a commitment of Rs 5 crore from a single alumna of the 1975 batch, while the 1989 batch offered to make the highest collective contribution of Rs 2.3 crore. The 1984 batch will add a sum of Rs one crore while the 1998 batch will contribute Rs 65 lakh towards the fund raising effort.
The funds will be used for case studies, research work, maintenance of the institute, improving infrastructure, and supporting deserving candidates.
IIM-A alumni also participate actively in campus recruitments of their alma mater. Read more
Committing Rs 2.3 crore, the 1989 batch of IIM-A could well be the first batch to offer the largest single gift to any management institution. The batch boasts of the likes of Rasesh Shah of Edelweiss Capital, Sanjeev Bikhchandani - founder of Naukri.com, and Nirmal Jain - CEO of India Infoline.
In the coming years, IIM-A will hold 25-year, 30-year, and 40-year reunions for its batches to be more in touch with its alumni.
IIM Ahmedabad is also trying to raise funds through corporates. More about fundraising efforts of IIM-A
The institute has already revised its alumni policy which became effective from April 1. According to the new policy, IIM-A will now grant ‘alumni' status to students of its short-duration and medium-duration programmes of three weeks or more, on a payment of Rs 10,000. However, to distinguish them from alumni of long-term programmes, they will have to mention their program name as a prefix to their ‘alumni' status. Hence, MDP students will gain the status of ‘MDP alumni'. See details
The batch of 1969 from IIM-A has found an innovative way to contribute funds to its alma mater on an ongoing basis. They have taken the initiative to provide annual financial aid of Rs 2 lakh each to five first-year students who are economically, socially, or physically challenged.
The beneficiary students will have to pay back the amount in multiples to IIM-A, within seven years after their graduation. The amount they will have to pay back will depend on their career growth. Know more
Do you have other innovative ideas for IIM-A alumni or the B-school to raise funds? Share your suggestions here.
