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IIT Kharagpur Alumni Launch Vision 2020, a $200M Endowment Fund Initiative

IIT Kharagpur Alumni Launch Vision 2020, a $200M Endowment Fund Initiative
Santa Clara, California, USA -- February 3, 2003

Indian Institute of Technology (IIT) Kharagpur alumni have announced another innovative and visionary initiative. Coined Vision 2020, the objective of the initiative is to raise a $200 million endowment fund by the year 2020 to enable IIT Kharagpur maintain and enhance global leadership and excellence in technology education, research and innovation.

"IIT Kharagpur alumni have established a long tradition of giving back to its alma mater. Some of the noteworthy alumni giving include funding the first management school at the IITs, a world class advanced VLSI Lab and a high band-width Internet access to each students room. Vision 2020 takes the alumni commitment to IIT Kharagpur several notches higher", said Parvati Dev, President of the IIT Foundation, and currently Associate Dean of Medical Learning Technologies at Stanford University. The IIT Foundation is the IIT Kharagpur alumni organization in the US set up to enable IIT Kharagpur maintain and enhance its pre-eminent status as a world class institute.

Arjun Malhotra, one of IIT Kharagpurs outstanding alumni, co-founder of HCL and currently Chairman and CEO TechSpan is the Chairman of Vision 2020. "IIT Kharagpur has meant so much to me and the alumni around the world. I am pleased to be leading Vision 2020. We looked into the future and realized the importance of creating an endowment fund. This fund would not only act as insurance for IIT Kharagpur but also become a catalyst for rapid progress on IIT Kharagpurs priorities", noted Arjun Malhotra. He is also one of the largest alumni donors to IIT Kharagpur and a member of the Board of Directors of the IIT Foundation.

"We are pleased to have broad-based alumni leadership from around the country committed to making Vision 2020 successful. Each team member is a successful executive, entrepreneur or a budding star and shares a deep passion for IIT Kharagpur", said Shailendra "Shail" Kumar, Vice President of the IIT Foundation and executive-in-charge of Vision 2020. Besides Mr. Malhotra and Mr. Kumar, the current Vision 2020 leadership team includes Delip Andra (Silicon Valley), Chinna Bodipalli (Chicago), Asoke Deysarkar (Houston), Hemant and Monica Jha (Houston), Joyjit Nath (Silicon Valley), Amit Rai (Seattle), Ramu Ramachandran (Chicago), Ronnie Ray (Silicon Valley), and Joe Sreshta (Houston).

About IIT Kharagpur:
Indian Institute of Technology (IIT), Kharagpur is the first IIT and was established in 1951. Kharagpur is situated less than 75 miles south-west of Kolkata, India. The twin towers of IIT Kharagpur are the landmarks of Indias struggle for freedom and urge for the future development as a technologically self-reliant country: the vision for the modern India. (visit http://www.iitkgp.ernet.in/ for more information)

About IIT Foundation:
The IIT Foundation is a US based non-profit organization set up to enable IIT Kharagpur maintain and enhance its pre-eminent status as a world class institute. (visit http://www.iitfoundation.org/ for more information)

Contacts: IIT Foundation: Dr. Parvati Dev or Mr. Shail Kumar at info@iitfoundation.org

Key Words: IIT Kharagpur, alumni, fundraising, endowment funds, Vision 2020

Source: IIT Foundation

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