Globally Wharton, Yale and Harvard are the best known institutes whose students believe in giving back pickups once they are established in their life. And the trend seems to be catching up well with Indian business schools as well. This month, IIM-Ahmedabad has raised Rs 7.5 crore from its alumni Vishwavir Ahuja, managing director of RBL Bank, and Aprameya R and Raghunandan G, cofounders of TaxiForSure, to support infrastructure funding, according to an ET news report.
“Alumni response has been overwhelming,” Ajit K Motwani, head of the development office at IIM-A told ET. What helped was director Ashish Nanda’s Harvard background, which helped foster the culture of alumni giving.
The largest individual contribution was Rs 11 crore by an anonymous IIM-A graduate to support heritage campus infrastructure and entrepreneurship scholarships, reports ET.
. “IIM-B has now entered a phase of high growth. The second campus is coming up in Jigani in Bengaluru. In this growth and expansion, alumni and corporate funding will play a significant role,” VK Menon, chief marketing and development officer at IIM-Bangalore told ET.
“Alumni have volunteered funds toward construction of a swimming pool, introducing IIM Calcutta Case Research Centre, instituting scholarships and awards and commissioning the proposed sports complex”, Uttam Kumar Sarkar, dean of new initiatives and external relations at IIM-Calcutta told the financial daily.