The donation was received from its Distinguished Alumnus Awardee Dr. Krishna Chivukula (MTech, 1970).

Academic Block

IIT Madras named an academic block in honour of Dr. Krishna Chivukula – ‘Krishna Chivukula Block’ – during an event at the campus on 6 August 2024.

Also present were Mr. Kaviraj Nair, CEO, Office of Institutional Advancement, IIT Madras, faculty, researchers, staff, and students.

Technology

Dr. Krishna Chivukula in 1997 brought to India a state-of-the-art engineering manufacturing technology called ‘Metal Injection Molding (MIM)’ while it was still an emerging technology in the U.S.

Presently his company, the INDO US MIM Tec, occupies the number one position in the world in MIM technology in terms of capacity and sales and has a projected turnover of nearly Rs. 1,000 Crore.

IIT Madras recognized his professional excellence and contributions to the community by conferring the ‘Distinguished Alumnus Award’ during 2015.

Director of IIT Madras

Prof. V. Kamakoti, Director, IIT Madras, said, that our alumnus still remembers his Alma Mater after several decades reinforces the fact that education is the only immortal wealth that we can give to mankind.

Grateful to Krishna Chivukula for his big contribution, which will benefit several future generations of students in their pursuit of knowledge, said IIT Madras director.

My education at IIT Madras, in addition to being extremely memorable and enjoyable, enabled me to accomplish much in life and put me in a position whereby I can give back to the Institute a gift – one of the largest single donations to date to a university in India.

Utilization

This donation will be utilized for multiple purposes including supporting international students to study at IIT Madras through a Scholarship, Research Excellence Grant Program, an UG Fellowship Program for freshers at IIT Madras.

It will also be used for Sports Scholar Program, Shaastra Magazine development and the Krishna Chivukula Block Maintenance, among other activities.

Generous Gesture

Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras thanked Dr. Krishna Chivukula for his generous gesture.

Prof Mahesh said Dr. Krishna Chivukula is not just a successful techno-businessperson but also of an ideal alumnus. His humility and generosity will stand as exemplar characteristics for generations of alumni.

The Office of Institutional Advancement, which is responsible for this outreach, is an initiative of the IIT Madras Alumni Charitable Trust.

Extraordinary Generosity

Mr. Kaviraj Nair, CEO, Office of Institutional Advancement, IITM, added, “We are profoundly grateful to Dr. Krishna Chivukula, an esteemed alumnus of IIT Madras, for his extraordinary generosity and unwavering commitment to our institution.

His monumental contribution, the largest ever single donation received by IIT M, stands as a testament to his dedication to fostering excellence in education, research, and innovation.

Dr. Krishna Chivukula’s visionary support will significantly enhance our capabilities and propel IITM to new heights.

His contribution not only elevates our institution but also serves as an inspiring example of how our alumni community continues to drive meaningful change, he said.

Donor Background

Dr. Krishna Chivukula graduated with a M. Tech (Aerospace Engineering), majoring in Jet Propulsion in 1970 from IIT Madras. In addition, he received an MBA from The Harvard Business School in 1980.

After a stint as Group President and CEO at the Hoffman Group of Companies in New York, Mr. Chivukula founded two “world number one” companies in succession.

Shiva Technologies Inc. in 1990 specializing in Advanced Mass Spectroscopy to certify ultrahigh purity materials and Indo MIM Pvt Ltd in Bengaluru to produce small metal and ceramic components with complex geometries in high volumes.

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In recent years, IIT Madras has emerged as a National Leader in ‘Tech Driven CSR’ through which the Institute is translating the cutting-edge research underway in its labs to actual products that benefit the society and country at large with support from the Alumni, Donors and Corporate firms.

The number of donors giving over Rs. 1 Crore to the Institute is 48 (16 alumni donors and 32 Corporate Partners).

The funds were raised from IIT Madras alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as Multinational Corporate firms.

The total amount raised through alumni alone during 2023-24 was Rs. 367 Crore, which is an increase of 282% compared to the previous year.

Their focus areas included cutting-edge research across various social impact themes, infrastructure, and scholarships for students besides establishing Chair Professorships for research in specific areas.

This study highlights how entrepreneurs driven by sustainability navigate the complexities of aligning economic objectives with broader societal and environmental goals, even under the pressure to prioritize profit alone, say sources from IIM Lucknow.

Values

The research emphasises how sustainability-oriented values in founders drive Sustainable Business Model Innovation (SBMI), say sources from IIM Lucknow.

This ripple effect fosters a larger ecosystem of sustainable businesses, redefining success to include positive contributions to environmental and social well-being alongside profitability.

Research

Prof. Krishna Chandra Balodi, Strategic Management, IIM Lucknow spoke about the research.

Our research illustrates the transformative influence of founders’ sustainability values on business models that address pressing global challenges, said Prof Krishna of IIM Lucknow.

These entrepreneurs redefine success by integrating their principles into their ventures, striking a balance between profit and meaningful environmental and social impact, he said.

Suscom

The research centers on “Suscom,” a startup renowned for its sustainable practices. By delving deeply into Suscom’s operations, the study revealed that the founders’ values permeate every facet of the business—from product innovation to strategic partnerships.

These values are rooted in a blend of influences, such as family upbringing, sustainability-focused education, and early career experiences with non-profits advocating for environmental and social causes, say sources from IIM Lucknow.

Attention

The research also brings attention to the unique challenges faced by sustainable startups, such as:

Recruiting employees with a sustainability mindset: Building a workforce aligned with the company’s goals.

Eco-friendly sourcing: Procuring sustainable raw materials.

Green logistics: Finding partners who offer environmentally friendly logistics solutions.

Collaborative partnerships: Working with like-minded stakeholders.

Innovative strategies: Developing creative, low-tech production methods that minimise energy consumption and environmental impact.

Standout findings

One of the standout findings is Suscom’s use of traditional and indigenous techniques to reduce energy consumption.

These methods not only align with global decarbonisation efforts but also present an eco-friendly alternative to high-energy industrial processes, say sources from IIM Lucknow.

Significance

As businesses worldwide face mounting pressure to address sustainability and climate change, this research underscores the significance of value-driven leadership, say sources from IIM Lucknow.

It serves as a beacon for entrepreneurs to adopt sustainable practices that not only ensure financial viability but also contribute meaningfully to societal and environmental progress, say sources from IIM Lucknow.

Personal values

By offering valuable insights into how personal values can catalyse sustainable innovation, the study reinforces the need for business leaders to think beyond profits and prioritise long-term, equitable growth.

In 2005, IIM Lucknow expanded its area of influence in the realm of management education by becoming the first IIM to set up a satellite campus exclusively for Executive Education at NOIDA in Delhi NCR region.

IIM Lucknow is accredited by AACSB and AMBA while its EQUIS Accreditation is ongoing. The institute features in the prestigious FT -100 Top Global Business schools for both the 2-year Flagship PGP program and One-year IPMX Program.

It is also consistently ranked amongst top business schools in the NIRF Rankings. IIM Lucknow was the first IIM to start a 2-year full time MBA program in Sustainable Management 10 years back. It also has a long-standing full-time MBA program in Agri Business Management.

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