New Delhi: The endowment fund board of IIT Delhi has declared the setting up of the ‘Endowment merit scholarships’ and the ‘Endowment nurture fund’ to boost diversity in scholastic excellence and entrepreneurship amongst its students.
Under the endowment merit scholars programme, 120 merit scholarships will be provided every year to batches of 15 women and 15 men pursuing BTech/dual degree programmes each year. The endowment nurture fund on the other hand aims to provide graduate students of the institute the opportunity to be awarded seed funding for their proposed ventures, motivating them to develop and nurture their entrepreneurial ideas and aspirations, instead of seeking placement opportunities.
The Endowment Board is presently committing Rs 3.20 crore annually from the earnings of the endowment corpus, though it expects the sum and awardees to grow in the coming years.
“It is encouraging to receive the collective support of our alumni towards the realisation of the Institute’s vision. The Endowment initiative has also helped the Institute connect with the alumni at a deeper level and engage them on a variety of activities,” said V Ramgopal Rao, Director, IIT Delhi and chairman of the Endowment Fund Board.