On the occasion of the IIT Delhi Endowment Fund's second anniversary, the board of directors announced the establishment of the "Endowment merit scholarships" and the "Endowment nurture fund" to encourage diversity in academic performance and entrepreneurship among its students.
120 merit scholarships will be awarded each year under the endowment merit scholars programme to batches of 15 women and 15 men completing BTech/dual degree programmes. The endowment nurturing fund, on the other hand, aims to give institute graduate students the option to receive seed capital for their proposed companies, encouraging them to develop and nurture their entrepreneurial ideas and goals rather than looking for jobs.
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.