The Indian Institute of Technology, Kanpur, received one of the largest personal donations from IndiGo Airlines co-founder Rakesh Gangwal on Monday.
The IIT alumnus donated Rs 100 crore to establish the School of Medical Sciences and Technology on its campus, which has a 500-bed super specialty hospital.
The medical school will be known as the Gangwal School of Medical Sciences and Technology.
Its goal is to produce leaders in clinical research and medical technology.
The director of IIT-Kanpur, Abhay Karandikar, took to Twitter to make the announcement. He called the donation an “extraordinary gesture”.
“The family of @IITKanpur is grateful for the #Philanthropy of Mr. Rakesh Gangwal and his family,” he said in a Twitter thread.
Here’s big news from @IITKanpur In an extraordinary gesture, our alumnus, Mr. Rakesh Gangwal, co-founder of IndiGo airlines, made one of the largest personal donations with a contribution of 100 crore, aimed at supporting the School of Medical Sciences & Technology at the IIT Kanpur- Abhay Karandikar (@karandi65) Apr 4, 2022
Gangwal was born in Kolkata and received a bachelor’s degree in mechanical engineering from IIT-Kanpur in 1975, followed by an MBA from the Wharton School of the University of Pennsylvania. He has also received the Distinguished Alumnus Award from IIT-Kanpur.
However, after the appointment of billionaire co-founder Rahul Bhatia to the newly created executive role of general manager last month, Gangwal stepped down from the airline’s board of directors and announced a five-year plan to gradually reduce its stake, putting an end to came to a long-standing feud with Bhatia.
THE WALKWAY SCHOOL OF MED SCIENCE AND ENGINEERING
The Gangwal School of Medical Sciences and Technology is being built in phases.
The first phase of the project includes the construction of a 500-bed super-specialty hospital, academic block, residential hostel and service block, with a total built-up area of approximately 8.10,000 square feet.
This phase also includes the establishment of Centers of Excellence (CoE) to conduct R&D in futuristic medicine. This phase is expected to be completed within three to five years.
In Phase II of the project, the hospital’s capacity will increase to 1,000 beds, as will the addition of allied health disciplines, alternative medicine, hospital management, sports medicine and public health programs, and the expansion of clinical departments/centers and research areas.
In addition, allied health disciplines, alternative medicine, hospital management, sports medicine and public health programs will be included. Phase II is expected to last between seven and ten years.
According to Karandikar’s tweet, the donation agreement was signed in Mumbai on April 4 and several professors from the institution attended the event.
Another well-known IIT-Kanpur alumnus Hemant Jalan, who has contributed Rs 18 crore in the past, was among the guests.
IIT-Kanpur has applied for funding for this project which is expected to cost Rs 600 crore.
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