Higher Education

Alumni creates fund for enhancing IIM-Ahmedabad brand

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IIM-A will now get support not just from its fraternity but even from corporates and high-networth individuals to help it maintain its brand image in both domestic and international market. The alumni network of the institute is planning to approach Indian corporate houses as well as country's high-net individuals with the request to contribute towards the endowment fund of US$ 50 million that will be spent on enhancing the brand value of the institute, one of the few 'Made-in-India' symbols of excellence. The institute's alumni, most of whom are already placed in senior positions across business houses, have also been approached with the request to contribute their 3-day worth salary towards the fund.

Sharing the details, PGP 1985-batch alumnus KN Vaidyanathan, who is also trust advisory committee member, said the process of approaching the donors in the two categories that have been identified will begin in April. 'We have put in place everything and will go to the market next month. We are targeting three potential contributors, which include IIM-A alumni, corporate and high-networth individuals to contribute towards creating the endowment fund of US$ 50 million in two years.' The institute is gearing up to celebrate its golden jubilee year in 2011. The fund thus created will be used for strengthening its brand value so that it could be made a globally-recognised B-School. The fund will be spent in attracting young faculty, supporting them in research activities and in encouraging collaborative programmes by inviting the best of visiting faculty from internationally recognised B-Schools and IIM-A faculty. The fund will also help in conducting course and write case papers and research papers. The IIM-A Alumni Trust, set up in 2006 with the aim of working towards enhancing institute's brand image, has earlier given soft loans to shortlisted candidates for institute's flagship programmes last year who were faced with the deadline for paying up the admission fee in the face of a stand-off between the institute and Union HRD ministry over reservation for OBC candidates in 2007.

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