IIT Bombay signed a Memorandum of Understanding (MoU) with the Class of 1970 to set up a Translational Research Accelerator (TRA) Fund at the Institute.
The key motivator behind the class of 1970’s substantial donation is to support and foster India’s autonomous technological advancement in vital domains of national significance, notably in defence. The TRA Fund will identify and hone research projects with translational potential even as it will empower students and faculty to become entrepreneurs, help commercialise their technologies, and take them to market.
The class of 1970’s vision for the TRA Fund also includes enabling the conversion of research findings into tangible real-world implementations. Consequently, this will significantly impact and transform the livelihoods of substantial cross-sections of the Indian populace.
This enduring initiative established by the class of 1970 has strengthened IIT Bombay’s dedication to closing the divide between pioneering technological advancements and their successful commercialisation in the marketplace.
IIT Bombay is extremely grateful to the Class of 1970 for their remarkable generosity, unwavering commitment, and visionary support that will undoubtedly shape the trajectory of technological advancement and innovation for generations to come.