Vaishnavi Prakash
New Delhi (India), March 20: The IIMA Endowment Fund is delighted to announce its recent recognition with the “Excellence in Finance Innovation – New Market Development” award. According to a LinkedIn post by Ms Chhavi Moodgal, CEO IIMA Endowment Fund, the award recognises the Fund’s efforts in the realm of organized philanthropy, particularly its commitment to advancing management education in India. Created to support the institute of excellence – IIM Ahmedabad, the IIMA Endowment Fund is a first of its kind initiative for a management school in India. It raises philanthropic contributions from alumni, HNIs, corporates and batches towards various strategic initiatives of IIMA.
The award, presented at the Finext Conference in Dubai on 28th February 2024, acknowledges the IIMA Endowment Fund’s outstanding contributions to innovation and its impact on new market development within the philanthropic landscape. India is a country with many deserving causes but there is also a need to support public institutions and help them grow to the next frontier of global eminence. Market development in such a space is possible only through a conducive ecosystem created by a confluence of stakeholders and well-wishers coming together – this includes the illustrious IIMA alumni and faculty.
Since its inception in 1961, IIMA has produced over 40,000 alumni. With one in seven CEOs with a management degree from IIMA, the Institute has the highest number of alumni in CEO/CXO-level roles in India’s top 500 companies. IIM Ahmedabad alumni have also founded some of the finest business enterprises. The IIMA Endowment Fund leverages these connects towards institution building and legacy building at IIMA.
The IIMA Endowment Fund has consistently championed initiatives that, enable the Institute to provide quality education to a broader spectrum of students including creating scholarships and awards for diversity and inclusion, entry level scholarships to attract students from all across India including Tier 2 and Tier 3 cities, differently abled students etc. Through strategic investments and partnerships, the Fund has facilitated the creation of research chairs in sectors such as healthcare, sustainability, consumer tech and also various Centres of Excellence which act as multi – disciplinary hubs and have a lasting impact on the Institute’s research landscape fostering industry and government collaborations.
This recognition from Finext Conference helps celebrate the collective impact of the IIMA Endowment Fund across multiple frontiers, and also acting as a catalyst in igniting conversations and reimagining the philanthropic needs of the education sector in India by also establishing an unrestricted general corpus which can provide a long-term foundation of capital and collaborations to IIMA. The award serves as a call to action for the philanthropic community in India to embrace the power of endowment funds. Endowments provide a stable and sustainable source of funding that empowers institutions to plan for the long term, ensuring a lasting impact on education. This effort would not be possible without the vision and support of IIMA Board of Governors and IIMA faculty.
In a country where education plays a pivotal role in shaping the future, organized philanthropy through endowment funds becomes a critical force for positive change. The IIMA Endowment Fund remains committed to pushing the boundaries of innovation in finance to further its mission of transforming education and creating a brighter future for the generations to come.
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