Rakesh Gangwal, the co-founder of IndiGo Airlines, has committed to contributing Rs 100 crore to his alma mater, the Indian Institute of Technology, Kanpur (IIT-Kanpur).
The funds will be utilized for the School of Medical Sciences and Technology, a new school that IIT Kanpur is already building.
The commitment extended by Rakesh Gangwal is in a personal capacity.
IIT-K director Abhay Karandikar announced the news on Monday, confirming Rakesh Gangwal’s contribution. He said,
TOI (Representational image)
“In an extraordinary gesture, our alumnus Mr. Rakesh Gangwal, co-founder of IndiGo airlines, has made one of the largest personal donations with a Rs 100 crore contribution focused on supporting the School of Medical Sciences & Technology at IIT Kanpur.”
Gangwal will also be joining the advisory board of the upcoming school.
In 2021, IIT-Kanpur announced to open a school of medical research and technology, which would include a medical school along with a 500-bed super-specialty hospital on its campus.
This step comes as a focused step to make IIT-Kanpur multidisciplinary and further make engineering, technology, and medical research complement each other.
The project aims to combine medicine with engineering and encourage cross-disciplinary learning through the initiative.
Reports suggest that the school and the medical college will have a built-up area of around 1 million square feet.
Phase one of the project is estimated to complete in the next three to five years. Phase II will tentatively be completed in the next 7-10 years.
IIT Kanpur was established in 1959. The authorities have been raising funds for this ambitious project which entails a cost of ₹600 crores.
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