A USD two million endowment (nearly Rs 15 crore) would be raised with the support of alumni and CSR grants from corporates, which would be used to fund projects to recruit, develop and nurture women faculty, researchers and students, said a statement from IIT-M.

The Institute has already made considerable progress on improving the number of women students, faculty, staff and creating opportunities for success, it said, adding that this programme would help build on the progress achieved so far and accelerate further progress.

The programme would make grants each year to accelerate women technologists’ careers as well as provide a supportive environment for women to thrive at IIT-Madras.

The inaugural grants would be issued on Monday, coinciding with the International Women’s Day celebrations, the statement added.

The Institute was planning to raise the USD two million endowment by the end of 2021, which would provide annual grants to support programmes taken by women students, faculty and researchers, the institute said in the statement, adding that the endowment fund was planning to grant Rs 70 lakh for various initiatives in the first year itself, the statement further said.