VIT gets ₹50 lakh endowment fund for student innovation programmes
The Vellore Institute Technology (VIT) gets the first installment of an endowment fund of ₹50 lakh for its student innovation programmes from 0 Why Not
The Vellore Institute Technology (VIT) gets the first installment of an endowment fund of ₹50 lakh for its student innovation programmes from 0 Why Not Technologies, a Bengaluru-based technology company. According to a press release, the fund will help boost innovation, entrepreneurship, and startups among students. A Memorandum of Understanding (MoU), which was signed for the purpose in March, aims to nurture student innovators by providing financial assistance, mentorship, and industry support for transforming ideas into successful ventures.
The technology firm also plans to establish a ₹45 crore endowment fund over the next five years. Such an effort will make it one of the largest industry-supported innovation initiatives for students in the country. The first instalment of ₹50 lakh was presented during the B.Tech Student Orientation Programme held at VIT on Wednesday.
The cheque was handed over by Harsha Vardhan, Satheesh Kumar, Sailesh Dontula (VIT Alumnus 2012 Mechanical Engineering) and Siva Kumar to Sekar Viswanathan, vice-president, VIT. The initiative will extend beyond
financial assistance by offering industry mentorship, startup guidance, and leadership development opportunities. Support will also be provided to deserving student sportspersons through training equipment and related assistance, the release said.
The BriefWire