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Published : Wednesday, 22 July, 2015 03:40 PM
The connect between the Indian School of Business (ISB) and its 6900 plus strong alumni community is getting stronger every year with more alumni coming back to School to contribute in their own way to its growth.
Some, like Dr Satyanarayana Chava, Chief Executive Officer, Laurus Labs, are repeat contributors. An alumnus of the Founding Class of Post Graduate Programme in Management for Senior Executives (PGPMAX), Dr Chava has agreed to contribute a monetary grant through his company, his second, to enhance the quality of teaching and research by funding Rs 1.5 crore spread over three years. Earlier he had contributed to ISB to support the ‘Technology Commercialisation Programme’ for scientists at ISB.
A Memorandum of Understanding (MoU) was signed on Tuesday, July 21, 2015, between Laurus Labs and ISB represented by Dr Satyanarayana Chava, CEO Laurus Labs and Ajit Rangnekar, Dean ISB respectively.
Speaking about the collaboration, Ajit Rangnekar, Dean ISB said, “ISB alumni are our brand ambassadors and standard bearers. They contribute to the School through Work, Wisdom and Wealth. Dr. Satya Chava is an inspiration for all of us. He has created a very successful business, and is passionate about contributing to social causes. On behalf of the ISB community, I thank him for his generosity.”
Dr. Chava has a successful track record of 26 years in the pharmaceutical industry, especially Research & Development, manufacturing and business development.
Speaking about this initiative, Dr Chava, said, “We consider this an investment in the future through ISB. It is my belief that the value of any great institution like ISB comes from three angles – its faculty, its students and the learning environment that it provides. We decided to invest in the first and contribute to building the faculty.”
ISB alumni contributions
This has been a tradition at ISB for every graduating class to leave behind a gift for the School ranging from support for infrastructure to scholarships for the future classes. ISB alumni have established an Alumni Endowment fund which is used mostly for scholarships and research support.
Some statistics about Alumni contributions
- PGPMAX alumni have contributed around Rs 66 lakhs to the Alumni Endowment Fund as their class legacy gift to institute scholarships and add to the research resources.
- Total amount of alumni contributions over the last six years – around Rs 3.5 crore
- Class gifts received- Around Rs 2 crore
- Largest gift by an individual alumnus for scholarships - Nurture India scholarships - Rs 50 lakh
- Several alumni ventures incubated under the EDI have contributed around Rs 1 crore as on date
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