Mumbai, August 30 2015:August 26, 2015: India's largest is IT services, consulting and business solutions organization --Tata Consultancy Services -- has mader its largest ever gift, not to any Indian institution but to the internationally ranked and respected private Carnegie Mellon University in Pittruburgh (PA) US.
The gift of $ 35 million is something of a record for the univereity too -- the largest corporate endowment it has received and the largest gift from out side the US. (The amount is approximately Rs 227.5 crores or Rs 2275 million)
The donation will fund a new facility, the Tata Consultancy Services Building, which will support education and cutting-edge research by CMU faculty and students. At approximately 40,000 square-feet, the stand-alone structure will house state-of-the-art facilities, providing collaborative spaces for CMU faculty and staff. The building will provide space for TCS staff to interact with CMU faculty, staff and students.
The gift also will endow Presidential Fellowships and Scholarships, increasing the availability of a CMU education to outstanding students. In doing so, TCS, which has been at the forefront of national and grassroots campaigns to encourage science, technology, engineering, and math education, will help equip Carnegie Mellon undergraduate and graduate students with the knowledge they need for future careers.
“With our shared commitment to education and research in areas that help address many challenges of our time, the partnership with TCS is both natural and extraordinarily promising,” said Subra Suresh, President of Carnegie Mellon. “Together, our two organizations have the capabilities and capacity to make breakthrough discoveries, and the scale to make societal impact on a global scale.”
“TCS is proud to invest in this landmark partnership with CMU to promote market-driven innovation and accelerate advancements in technology,” said Natarajan Chandrasekaran, Chief Executive Officer and Managing Director of TCS. “As global leaders, Carnegie Mellon and TCS have the intellectual power, creativity, institutional nimbleness, and global reach to capitalize on new opportunities and have a lasting impact on society and industry through cutting-edge digital research and a long-term commitment to education.”
See a video of the announcement here