bits: BITS Pilani announces the largest alumni donation in its history

BITS Pilani has received the largest gift in its history— a $1.2 million (Rs 10 Crore) commitment from Rakesh Kapoor, one of the institute’s prominent alumnus, the Institute said in a statement on Saturday.

The gift will be used to fund the creation of a state-of-the-art Centre of Innovation. 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.

The Centre of Innovation will be named ‘The Kapoor Centre of Innovation’.

The announcement comes on the back of the recently announced “BITS innovation and start-up policy of 2022”, which allows both student and faculty to take up to a year off to start their own ventures.

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 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.”

Rakesh Kapoor (BITS Pilani, 1975-80) said: “Innovation and Entrepreneurship are the lifeblood of economic and societal progress. My hope is that this gift will foster the talent of young engineers and scientists to create innovative products, solutions and services that benefit our planet and our people.”

Rakesh Kapoor was the Global CEO of Reckitt Benckiser from 2011-2019.