To mark the second anniversary of IIT Delhi Endowment Fund, the endowment fund board today announced the establishment of the “Endowment merit scholarships” and the “Endowment nurture fund” encouraging diversity in scholastic excellence and entrepreneurship amongst its students.
The endowment merit scholars program will provide 120 merit scholarships every year to batches of 15 women and 15 men BTech/Dual degree students for each year. The endowment nurture fund aims to offer graduate students the opportunity to be awarded seed funding for their proposed ventures, encouraging them to embark on developing and nurturing their entrepreneurial ideas and aspirations, rather than seeking job placement.
While the Endowment Board is currently committing Rs 3.20 crore annually from earnings of the endowment corpus, it expects the amounts and awardees to grow further in the years ahead.
Prof V Ramgopal Rao, Director, IIT Delhi and Chairman of the Endowment Fund Board said, “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.”