FedEx and IIT Bombay, Madras work together to receive a $10 million award.
FedEx Express (FedEx), a division of FedEx Corp., and the Indian Institutes of Technology (IIT) in Bombay and Madras have extended their collaboration. A corporate social responsibility award of USD 10 million has been committed to the two IITs by FedEx, a worldwide express delivery corporation.
With this project, a “Centre of Excellence” (CoE) will be established on both IIT campuses, strategically placed within physical infrastructure and recognized worldwide. In addition to leading research and development, this CoE will support fellowship programs for master’s and doctoral students, foster a vibrant talent pool, and actively promote the expansion of India’s startup ecosystem.