NITR Development Fund

NIT Rourkela is happy to announce the creation of NIT Rourkela Development Fund (NITR-DF). With this, the Institute leaders seek to engage its 34000+ global alumni network to be partners in the institute’s development and growth. Besides strengthening and modernize the research infrastructure, alumni also collaborate with faculty to help in forging research collaborations with academia and industries. NITR-DF has a goal to raise INR 60 crores to transform NITR research and innovation infrastructure.

The funds will be raised from various sources like government agencies, corporations and alumni benefactors. NITR-DF funds will be used to support Research and Development needs at NITR like:

• Establishment of an Advanced Research Center
• Supporting Research and Development needs for which sources of finance are not available.
• Bootstrapping new Research and Development infrastructure.
• Seed funding student led start-ups.

NITR-DF Governance Model
NITR-DF is governed by the following entities, all working together to propel NITR achieve global excellence in engineering, research and innovation.

• NITR, The NIT Rourkela administration will execute NITR-DF objectives.
• NITRAA, a non-profit organization representing alumni in India and abroad. The NITRAA leaders champion NITR-DF objectives among alumni, and facility fund raising.
• NITROAA, a 501c3 non-profit alumni organization representing alumni in the US and Canada. The NITROAA board champion NITR-DF objectives among alumni, and facility fund raising. Overseas alumni will donate via NITROAA in order to obtain corporate match and tax benefits.
• NITR-DF Board: An independent advisory board with representation from NITR, NITRAA and NITROAA. It is not a legal entity, and does not have any fiduciary responsibility.

The NITR-DF Board
The NITR-DF Advisory Board is an independent team that works with NITR administrators to carry out the objectives of the NITR-DF. The board is responsible for the following activities:

• Shape the strategic vision and execution roadmap for achieving NITR-DF objectives.
• Be the advocate for NITR-DF objectives in various forums.
• Collaborate with NITROAA and NITRAA Board to keep NITR-DF Fund investments and growth objectives on-track.
• Work with NITROAA and NITRAA organizations to publish financial reports in the annual NITR Alumni fund utilization report.
• Meet at least once every month to plan and execute NITR-DF objectives. NITR-DF Advisory Board is not a legal entity. It is not bound by any by-laws. However, here are the guidelines to create a lean, professional and effective board. The specific provision can be updated by the board, based on its learning.

The NITR-DF Board Members
The number of board members shall be not less than six nor more than twelve. The count and composition of the board can be updated from time to time by resolution of the board members. An eight members founding board will comprise of the following:

• Director, NIT Rourkela, Chairman
• 2 Members, nominated by NITROAA
• 2 Members, nominated by NITRAA
• Dean (Alumni, Industry and International Relations), NIT Rourkela, Convener
• Associate Dean (Alumni, Industry and International Relations), NIT Rourkela
• Dean (SRICCE), NIT Rourkela

• President, NITRAA
• President, NITROAA