Mumbai: Bhartiya Vidya Bhavan‘s Sardar Patel Institute of Technology (SPIT) received a generous donation of Rs 8.5 crore during the silver jubilee anniversary event of the 1999 batch, which was also the institute’s first graduating batch. It is probably the highest donation amount received by any city-based non-IIT engineering college. Alumni of the 1999 batch and founders of PhonePe, Sameer Nigam, CEO of the company, and Rahul Chari, CTO, announced the donation (US$1 Million) to the college at the alumni reunion event held on Saturday on the Bhavan’s campus in Andheri. Both Nigam and Chari started their entrepreneurial journey from the institute.
The grant will be used to enhance the institute’s infrastructure, foster innovation, and cultivate an entrepreneurial spirit among students, empowering them to develop cutting-edge solutions and drive impactful ventures.
Chari, PhonePe co-founder and chief technology officer, in a media statement, said, “As I reflect on my time at SPIT, being part of the first graduating batch of computer engineering holds a special place in my heart. It was here that my co-founder Sameer and I truly began our entrepreneurial journey with the office for our first venture located within the institute itself. The strong fundamentals I built at SPIT and the invaluable lessons from the exceptional faculty and the peers I studied alongside were instrumental in shaping my ability to build PhonePe…” Both Chari and Nigam were awarded the Distinguished Alumni Award for their significant contributions, along with three other alumni.
Principal of SPIT, BN Chaudhari, said, “…While one in 10 achieves success and one in a hundred achieves greatness, only one in a million becomes a donor. We are deeply grateful to Rahul Chari and Sameer Nigam for their $1M grant, a transformative step that will catalyse the growth of our college and students.” He said the grant will be used to create new academic spaces and laboratories.
Several institutes are now building their alumni network for their institute’s development. VJTI, another leading city engineering institute, this year managed to raise a total of Rs 5.6 crore through donations, endowment, and CSR funds, said chairman, VJTI Alumni Association, Umesh Doshi. Donations are being used for projects like lab renovation, student scholarships, and other infrastructure projects. The institute has received donations from SBI Capital Markets Ltd, Savex Technologies, General Insurance Corporation of India, among others.
Mumbai: Bhartiya Vidya Bhavan’s Sardar Patel Institute of Technology (SPIT) received a generous donation of Rs 8.5 crore during the silver jubilee anniversary event of the 1999 batch, which was also the institute’s first graduating batch. It is probably the highest donation amount received by any city-based non-IIT engineering college. Alumni of the 1999 batch and founders of PhonePe, Sameer Nigam, CEO of the company, and Rahul Chari, CTO, announced the donation (US$1 Million) to the college at the alumni reunion event held on Saturday on the Bhavan’s campus in Andheri. Both Nigam and Chari started their entrepreneurial journey from the institute.
The grant will be used to enhance the institute’s infrastructure, foster innovation, and cultivate an entrepreneurial spirit among students, empowering them to develop cutting-edge solutions and drive impactful ventures.
Chari, PhonePe co-founder and chief technology officer, in a media statement, said, “As I reflect on my time at SPIT, being part of the first graduating batch of computer engineering holds a special place in my heart. It was here that my co-founder Sameer and I truly began our entrepreneurial journey with the office for our first venture located within the institute itself. The strong fundamentals I built at SPIT and the invaluable lessons from the exceptional faculty and the peers I studied alongside were instrumental in shaping my ability to build PhonePe…” Both Chari and Nigam were awarded the Distinguished Alumni Award for their significant contributions, along with three other alumni.
Principal of SPIT, BN Chaudhari, said, “…While one in 10 achieves success and one in a hundred achieves greatness, only one in a million becomes a donor. We are deeply grateful to Rahul Chari and Sameer Nigam for their $1M grant, a transformative step that will catalyse the growth of our college and students.” He said the grant will be used to create new academic spaces and laboratories.
Several institutes are now building their alumni network for their institute’s development. VJTI, another leading city engineering institute, this year managed to raise a total of Rs 5.6 crore through donations, endowment, and CSR funds, said chairman, VJTI Alumni Association, Umesh Doshi. Donations are being used for projects like lab renovation, student scholarships, and other infrastructure projects. The institute has received donations from SBI Capital Markets Ltd, Savex Technologies, General Insurance Corporation of India, among others.