IIT Delhi will provide 120 scholarships under the Endowment Merit Scholarship and Endowment Fund for Development program to provide seed funding for graduate student companies.
IIT Delhi Announces Scholarships and Seed Funding to Mark 2nd Anniversary of Alumni Endowment Fund
NEW DELHI: The Indian Institute of Technology announced a Merit Scholarship and Nature Endowment Fund to mark the second anniversary of its alumni endowment fund.
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IIT Delhi established the IIT Delhi Endowment Fund on October 31, 2019, which was initiated by President of India Ram Nath Kovind at Rashtrapati Bhavan. The institute will celebrate its second anniversary on October 31.
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“Marking this milestone occasion, the Endowment Fund Board – the governing body of the Fund composed of both alumni and administrative members of IIT Delhi – announced, as initial programs, the establishment of the” merit endowment “and the” Endowment Fund “, encouraging diversity in academic excellence and entrepreneurship among its students, as the institute goes further in achieving its vision and strategy 2030”, declared a press release.
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The Endowment Merit Scholarship Program will sponsor 15 women and 15 men pursuing a BTech / Dual degree for each year i.e. 1st, 2nd, 3rd and 4th by providing 120 merit scholarships each year.
The Endowment Nurture Fund will provide graduate students with the opportunity to secure seed funding for their proposed projects. The Nurture Fund aims to encourage IIT graduates to nurture their entrepreneurial ideas and aspirations, rather than looking for a job.
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The IIT Delhi Endowment Board is currently committing to disburse Rs 3.20 Cr per year from the endowment corpus income. The board expects the amounts and beneficiaries to increase over the next several years.
Congratulating the members and founders of the Endowment Board, V. Ramgopal Rao, Director of IIT Delhi and Chairman of the Endowment Fund Board, said: “IIT Delhi has taken a historic milestone with the establishment of the Endowment Fund, and he is encouraging to receive the collective support of our elders towards the realization of the vision of the Institute. The endowment initiative also helped the Institute to forge deeper bonds with alumni and involve them in various activities.
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