The alumni of the Batch of 1969 have signed an MoU with their alma mater IIT Delhi to set up a yearly honour award named the “Group of 1969 Innovation Fellow (Award)”.
To set up a unique fund for this Award, the Batch of 1969 has altogether contributed over Rs 1 Cr with a mean to advance a soul of development and business enterprise among the graduating understudies at IIT Delhi.
The Golden Jubilee Reunion of the 1969 Batch was commended at the grounds on Friday, eighth March.
In the interest of the Batch of 1969, IITD former student Mr Rajat M. Bother signed the MoU with IIT Delhi. The Award will be executed and overseen by the Foundation for Innovation and Technology Transfer (FITT), IIT Delhi.
Many, if not most, graduating students along find it hard to proceed with their projects as the option of a lucrative employments are significantly more alluring than the danger of supporting themselves utilizing individual assets to take the project forward which eventually may not discover funding support at a later stage.”
The Batch of 1969 has proposed to partially finance this hole by building up the Corpus at IIT Delhi for giving a yearly stipend to a graduating understudy at any level (UG/PG/Ph.D.) of any order or program in any Department/Center/School at IITD.
Talking about the Award, Mr Rajat M. Bother, IITD Alumnus stated, “The ‘Batch of 1969 Innovation Fellow (Award)’ would empower the beneficiaries to keep working on their project close to completed task to convey it to a level of arrangement for genuine consideration by venture/angel funders.”
The honour will convey a month to month stipend of Rs 1 Lakh for a time of one year. In other cases, the awardee might be considered for further help for another six months. Such an additional time will be notwithstanding the Award made each year. The Corpus will empower one Award to be given every year for a 10-year time frame (2019-2028).
Prof V Ramgopal Rao, Director, IIT Delhi, while lauding the Batch of 1969 for their drive, stated, “IIT Delhi graduated class have positively influenced the business space with more than 300 effective organizations made by them everywhere throughout the world. This honour is an extraordinary start to comparative associations establishment wants to make for sprouting business people. We welcome this activity from our alumni.”
While the Batch of 1969 is setting up this Award program with an underlying Corpus, in future extra commitments to the Corpus as yearly, a single amount of duties will likewise be invited.