Unrestricted funds are a very powerful form of donor support because they allow the Institute to use them on needs as it sees fit. Institute Development Fund (unrestricted) help support strategic initiatives or long term projects that can cater to the fast-paced growth of IIT Bombay, as planned over the next decade. These funds will be utilized for initiatives that are focused on driving growth, improving efficiency, and enhancing the competitive advantage of IIT Bombay.
The ‘Institute Development Fund (IDF)’ was established over 15 years ago and has played a vital role in IIT Bombay’s sustained growth. The IDF is an unrestricted fund that is used by the Institute to cater to high-priority initiatives. IIT Bombay has consistently ranked amongst the top two universities in India (QS World Rankings) over the past many years and is committed to emerging as one of the top universities in the world by 2030. In line with this vision, the Institute has set specific goals including nurturing world-class research ecosystems by building Centres of Excellence (CoE), state-of-the-art labs in emerging areas of research, micro-factories, and more; providing high-quality education to students; attracting and retaining globally acknowledged faculty to the Institute; and taking the lead in nation- building and creating tangible societal impact. To achieve these, the Institute needs to focus on several critical initiatives such as infrastructure development, department operations and implementation of the strategic plan.