IIT Delhi announces endowment scholarship, seed funding schemes

The ‘Endowment Merit Scholars Programme’ will provide 120 merit scholarships to batches of 15 women and 15 men BTech/dual degree students for each year. 

The Indian Institute of Technology (IIT) Delhi Endowment Fund Board has announced the ‘Endowment Merit Scholarship’ and ‘Endowment Nurture Fund’ to mark the second anniversary of its Alumni Endowment Fund.

“October 31, 2021, will be the second anniversary of IIT Delhi having established the IIT Delhi Endowment Fund. Launched by President of India Ram Nath Kovind in 2019, the endowment fund has created history in setting up a model for other educational institutes to follow. Marking the milestone occasion, the Endowment Fund Board — the governing body of the fund comprising both alumni and administrative members of IIT Delhi — has announced, as its initial programmes, the establishment of the ‘Endowment Merit Scholarships’ and the ‘Endowment Nurture Fund’, encouraging diversity in scholastic excellence and entrepreneurship among its students, as the institute goes further in realising its 2030 vision and strategy,” the institute said in a statement.  

The ‘Endowment Merit Scholars Programme’ will provide 120 merit scholarships to batches of 15 women and 15 men BTech/dual degree students for each year, the institute said. 

“The ‘Endowment Nurture Fund’ aims to offer graduating students the opportunity to be awarded seed funding for their proposed ventures, encouraging them to embark on developing and nurturing their entrepreneurial ideas and aspirations, rather than seeking job placement,” it said. IIT Delhi has said that the Endowment Board was committing INR 3.20 crore annually from earnings of the endowment corpus but it “expects the amounts and awardees to grow further in the years ahead”. 

V Ramgopal Rao, Director, IIT Delhi, and Chairman of the Endowment Fund Board said, “IIT Delhi has taken a historic step with the establishment of the endowment fund, and it is encouraging to receive the collective support of the alumni towards the realisation of the institute’s vision. The initiative has also helped the institute connect with the alumni at a deeper level and engage them on a variety of activities.” 

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