Mumbai, 28 July 2021: The Indian Institute of Technology Bombay (IIT Bombay) is pleased to announce the establishment of an endowment fund to support research at the Institute, sponsored by Mr. Sandeep Naik and alumnus Mr. Shantanu Rastogi.
The endowment fund comprises of an award that will support the pre-existing Ph.D. award,recognizing excellence in Ph.D. theses work. The ‘Best Ph.D. thesis’ award was instituted in 2010 and is open to all the Ph.D. students who have graduated during the last two academic years across all departments of IIT Bombay. The award will be renamed as the “Naik and Rastogi Excellence in Ph.D. Thesis Awards”.
The fund has been established through Mr. Naik and Mr. Rastogi’s generous contribution to give an impetus to research and development. It is a critical step toward recognizing deserving emerging talent at the Institute.
Mr. Sandeep Naik is a 2004 alumnus of the Wharton School of Business, University of Pennsylvania, in addition to being an alumnus of Medical College of Virginia and currently works as Managing Director, Head of India and South East Asia at General Atlantic. He was selected as a Young Global Leader by the World Economic Forum.
Mr. Shantanu Rastogi is an MBA graduate from Wharton School of Business and a 2002 alumnus from Electrical Engineering (B.Tech. & MTech., Dual Degree) at IIT Bombay. He was also a Young Alumnus Achiever Awardee (YAA) of the Institute in 2019. Mr. Rastogi is a Managing Director at General Atlantic.
Speaking about the initiative, Mr. Naik said, “The early beginnings of my career were steeped in research, and scholarships attached to research helped me pursue my higher education. Giving back to support strong independent research as a result came as a natural way to contribute. It’s an honor to support deep fundamental research that can solve the problems of an emerging nation and catapult it to a developed nation. The gap is wide, and we need the best of minds doing doctoral research to help us bridge it”.
Mr. Rastogi said, “I deeply cherish my academic journey and friendships developed at IIT Bombay. My foundational years at the Institute have been a pivotal factor in my personal and professional growth. I believe that scientific research is the bedrock of a nation’s innovation led development. I am privileged to be able to support the doctoral scholars at the Institute, in furthering their pursuit of outstanding research”.
Prof. Subhasis Chaudhuri, Director, IIT Bombay said, “The endowment for research awards will go a long way in furthering the Institute’s mission ‘to create an ambience in which new ideas, research and scholarship flourish and from which the leaders and innovators of tomorrow emerge”.