IIT Bombay 1992 Legacy Project Update (19 Nov)

The Legacy Project initiative – Quick Update

• ‘LP Initiative’ was started 10 years back

• Focus on critical needs of the Institute which are underserved

• Most Batches ensure that their LP programs support

oLP programs of previous batches (50%)

oNext initiatives needed by IIT B (50%)

Impact of Silver Jubilee Legacy Projects

Over last 10 years alumni have donated in excess of 29.7 Crores* to IIT Bombay as part of their batch legacy project. An additional 8 crores was pledged by C’91 last year

Student Development

Rs. 3 crores

Creativity & Innovation

Rs. 3.4 crores

Faculty Development

Rs 11 Crores

Misc Other: Rs. 3.5 crores

Research & Chair

Professorships

Rs. 1.5 crores

Campus and Ecology

Rs. 2.7 crores

*The funds mentioned are based on what has already been received at IIT Bombay and does not include donations from US alumni which is still with IIT Bombay Heritage Foundation. If that amount is added then the cumulative figure will be higher.

Shortlisted LP Programs for 1992 Batch

Students Experience:

Student Wellness

Student Scholarships

Development Fund

Faculty:

Young Faculty Awards

Retired Faculty Wellness Fund

CampusEntrepreneurship & Innovation:

Student Creativity

Areas of Need

1

2

3

4

5

6

Preferences Based on 1992 Batch Survey

Legacy Project IdeasFavourable (In Top 3)

% of Respondents

Student Scholarship 27

Student Wellness 23

Student Creativity 20

Retired faculty 15

Young Faculty Award / Research 15

1

2

6

5

4

Student ScholarshipsNeed

• B Tech & Dual Degree students spend almost 3lakhs/ year as fees and other expenses

• Each year

• No of students needing financial aid – 2500

• No of students receiving scholarships -1200(300 from alumni funding)

• Gap – 1300 students

LP Goal

• To create an endowment which supports onestudent for 20 years

• Amount required – 20 lacs per student

• Total proposed amount – 1 cr or 5 students for 20years

Student WellbeingCurrent Funding • LP 86 has so far dedicated in excess of Rs 40 lakhs and the expenses of one counsellor’s is fully funded by them.

Impact

• Remedial – Counselling cell with 4 trained counsellors providing 1:1 help

• Preventive – Workshops, Peer counselling, FB self help page ,

LP Goal

• Increase outreach of preventive programs through structured program design and implementation

• Amount proposed – Rs.2 -2.5 cr over 3 years

Student Development Fund

• Student Development Fund helps students get a variety of experiences-

• Travelling overseas for competitions• Exchange programs• Conferences

• No Student Development Fund for UG students

• Proposed Amount: 1 crore over 3 years • Sponsor 30 students per year

3

Young Faculty Awards

Need

• YFA was launched by C’82

• Every new faculty member joining IITBombay get a joining bonus of Rs 4lakhs disbursed over a period of 3years.

• Currently total spend: Rs. 2 Crores/year

LP Goal

• Amount Proposed – 1 crore

Impact250 top notch faculty joining IITB have received YFA“First of all I would like to acknowledge the receipt of ‘Young Faculty Award’. I would like to express my sincere thanks to the alumni of IIT Bombay for this unique gesture”. Arnab Jana, Assistant Professor, Centre for Urban Science & Engineering

Retired Faculty Wellness Fund (RFWF)

Need• LP of C’84 supported by 6

successive batches.• Provides supplementary Medical

Insurance from ICICI Lombard to 180retired faculty and spouses, spousesof deceased professors who retiredprior to 2004 and had access to noalternative medical benefits fromthe Institute.

AmountCurrent Premium requirement isapproximately INR 35 lakhs/year.

My wife had to be hospitalized for accidental burn injuries and unfortunately, the very next day after her discharge, I too had to be hospitalized as I fell down unconscious in the house. I was in the ICCU and discharged after a week…my claims were disposed very quickly and I have to whole-heartedly record my thanks to the students (now alumni) of legacy projects who thought of this novel idea and support this year after year. --Prof T. V Ramakrishanan (Retired in 90s)

Student Creativity Initiative – Support innovative ideas and entrepreneurship

• Students want to be the innovators and entrepreneurs of tomorrow

• Creativity has been found to have reduced over the years

• Other leading Universities have structured programs to develop this

• Our batch could help fund this program• Recruitment of appropriate resources• Program Development• Implementation

• Proposed Amount : Approx 2 CR for 2 years

Overall Timelines to achieve our milestone!

Aug ’17 Sept ’17 Oct’17 Nov’17 Dec’17 Jan ’18++

• Outreach to all batchmates

• Mini reunions

• Initial pledges

• Shortlisting of Legacy Projects

• Pledges committed by each of us

• Finalize Pledges and LP Projects

• Batch reunion prep Dec 22-24, 2017

• Submission of intent to Director

• Fund collection

• Finalisation of projects

• Implementation

Today

Update Till Date: 63 Pledges - INR 4.47 CR / USD 688 K

270 Outreach / Contact made with Alumni

156 Registrations done for Re-union

61 Pledges – need to increase urgently

USD 688 K Pledges Amount (Target 10cr)

IND 4.47 Cr

Hostels 10, 6 and 2 are leading in percentage of people pledged

Hostels which need to catch up

Hostel No. of PeopleNo. of Pledges % Pledges Amount USD (K)

10 14 8 57% 116

6 40 12 30% 123

2 47 12 26% 115

4 40 8 20% 162

3 42 7 17% 90

8 35 5 14% 21

9 28 4 14% 28

7 30 4 13% 15

5 35 3 9% 18

Chemistry, Chem Engg and Metallurgical EnggDepartments are leading in terms of participation

Deptswhich need to catch up

DeptNo. of People

No. of Pledges % Pledges

Amount USD (K)

Chemistry 5 2 40% 31

Chemical Engg 57 18 32% 280

Metallurgy 41 9 22% 101

Computer Sc 41 7 17% 50

Mech Engg 67 11 16% 123

Elec Engg/EP 77 11 14% 97

Civil 32 2 6% 3

Aerospace 13 0 0% 0

Questions ?