GO-IITB Launched by Class of 2010
IIT Bombay seems to be reviving the old tradition of "gurudakshina". More than 735 students of the batch passing out in 2010 pledged to donate 1% of their salaries to their alma mater. Christened "Go IIT-B: Give One for IIT Bombay", this fund-raising is in association with the IIT Bombay Heritage Fund. Their motto: Pledge now and pay later. Participants can start donating within a year after they begin to earn.
Participants can start donating within a year after they begin to earn. At the convocation held on August 6, more than 70% of the batch pledged to donate 1% of their salaries for life. In fact, the batch has already started collecting funds.
Damayanti Bhattacharya, COO, IIT-B alumni association is one of the brains behind the project. She said, "The idea was to keep the young alumni engaged and keep them associated in a way that it benefited the institute. Usually, when it comes to fund-raising, we look at the big donors. But there are other IITians, who could collectively form a bigger pool and contribute in a similar way. The response so far has been overwhelming."
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IIT-B graduates pledge 1 pc of salary for institute
Santosh Meena’s parents had taken loans at exorbitant interest rates five years ago when he made it to the Indian Institute of Technology– Bombay (IIT-B). But when the dual degree engineering student got in, he realised that alumni loans were much cheaper and opted for one. When Meena graduated from IIT-B on Sunday, he promised to return the favour and signed up for IIT-B’s new initiative ‘GO IIT-B: Give one for IIT-Bombay’.
The unique initiative invites fresh graduates to pledge one per cent of their salary for the institute’s growth. “I know how important it is for students to get these loans. I will contribute to this fund for as long as I can,” said the 22-year-old.
The response to the initiative has been overwhelming with 735 of the 1,000 students, who attended the convocation last week, signed up almost immediately. While one per cent might seem measly, when added it becomes a substantial amount.
With an average IITain’s annual salary being Rs 7 lakh, a one per cent contribution (Rs 7000 per person), from the pool of 750 students will add up to more than Rs 50 lakh in a year. “The loyalty of fresh graduates is at their peak, so we want them to start donating early,” said Bakul Desai, an alumnus who came up with the idea. "With most of our alumni all over the globe it gets difficult to coordinate with them. So, when they sign up at the beginning it is much easier. Also, with fresh graduates signing up, we are hoping it encourages older batches to contribute."
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