IIT Mandi Gets $86,000 From US Philanthropists for Scholarships

• IIT Mandi receives a donation establishing a sustainable endowment for academic development.
• Fund supports scholarships, research, classrooms, and infrastructure improvements.
• IITRF ensures full contribution allocation supporting long-term institutional growth.

The Indian Institute of Technology (IIT) Mandi has been granted a contribution exceeding $86,000 (around Rs 75 lakh) by US-based donors Satish Agarwal and Kamlesh Agrawal.

As per an official announcement, the donation will be allocated to create the Satish and Kamlesh Agrawal Charitable Fund in Houston, Texas, USA, aimed at funding long-term developmental programs at the institute.

The newly established fund will serve as a sustainable endowment to finance various academic and institutional endeavors. These encompass scholarships for students, research projects, travel grants for faculty and students, smart classroom setups, and infrastructure enhancement.

According to IIT Mandi, the fund will function as a master account where only a maximum of 90% of the yearly interest earnings will be used for sanctioned purposes. The main fund will stay unchanged to guarantee enduring financial stability.

Also Read: IIT Delhi, Simplilearn, Microsoft Launch AI Courses

IIT Mandi announced that the partnership was facilitated by the IIT Roorkee Foundation (IITRF) in the USA. The Board of Directors of the foundation facilitated the process by providing the entire contribution without subtracting administrative costs. The institute reports that IITRF board members cover operational expenses from their own finances to guarantee full fund allocation to recipient institutions.

Prof Laxmidhar Behera, the Director of IIT Mandi, thanked Satish and Kamlesh Agrawal for their philanthropic initiative that promotes higher education and innovation. The institute highlighted that these partnerships contribute to enhancing enduring educational and infrastructural objectives.

Prof Varun Dutt, Dean of Resource Generation and Alumni Relations (DORA), emphasized that the fund embodies a sustainable approach to philanthropic involvement that can sustain academic excellence and research initiatives for the long term. Donor Satish Agrawal stated that the donation aims to support education, research, and community-focused development via IIT Mandi.