Birla Institute of Technology and Science (BITS) Pilani on Saturday announced that it has received the largest dontation its history 1.2 million ( ₹10 Crore) commitment from Rakesh Kapoor, one of the institute’s prominent alumnus.
The gift will be used to fund the creation of a state-of-the-art Centre of Innovation, the institute said in a press statement.
“Designed by renowned architect Hafeez Contractor, the 40,000 sq.ft. facility will include innovation labs in technology & hardware and co-working spaces. The innovation centre will also be home to the Pilani Innovation and Entrepreneurship Development Society (PIEDS), the business incubator of BITS,” it added.
BITS further informed that the Centre of Innovation will be named ‘The Kapoor Centre of Innovation’ in recognition of Mr Kapoor’s generosity.
Prof. Souvik Bhattacharyya, Vice Chancellor, BITS Pilani, said, “ BITS has, in its own way, contributed significantly to India’s heritage of entrepreneurship. From a small technical school at one time, it is today among the nation’s foremost ‘entrepreneur factories’. This generous act of philanthropy by Mr. Rakesh Kapoor will undoubtedly have a lasting impact, as it aligns with one of the top institutional priorities and reinforces the culture of innovation and entrepreneurship that BITS has championed for several decades. I am confident that this centre will serve as a catalyst for the next generation of innovators, shaping the future with their ground-breaking ideas and solutions.”