The alumni at the Indian Institute of Management, Bangalore (IIM-B) have, in recent times, been keen to contribute to their alma mater by offering assistance in areas like admissions, lectures and mentorship.
Taking a cue, the institute has set up a payment gateway system which will enable alumni to pay their participation fees online. It has also instituted online merchandise where they can purchase products like IIM-B t-shirts, watches and bags. Moreover, with its global alumni meet called ‘Anusmaran’ scheduled this month, IIM-B’s alumni association is discussing newer ways for them to engage with the institute and students.
The meet will be held in 12 cities this year which includes international destinations like New York, London, Hong Kong, Dubai and Singapore. Over 1,500 alumni members are expected to participate in the event across various cities. It has garnered a sponsorship of around Rs 12 lakh.
“In most international institutes, a lot of initiatives are taken by alumni members. IIM-B has started taking steps in this direction in recent times. The idea is to leverage resources and experience of our alumni,” said Rakesh Godhwani, head of IIM-B alumni association. The event was held on May 14 in Kolkata, followed by Delhi, Hyderabad, Chennai, London, Hong Kong on 15th, Dubai will be held on 20th, Singapore, Bangalore and Mumbai on 22nd and in Pune on May 29.
While alumni contributions are an important part of corpus for most international institutes, it is not so in India. Godhwani admits IIMs have a long way to go before they catch up with their foreign counterparts. “Funds are critical for an institute. But it will take time. The alumni association and its roles have to be formalised to encourage such an environment,” he said. The institute created its IIM-B alumni trust a year ago and financial contributions are slowly beginning to trickle in. This year, over 100 alumni members are learnt to have been a part of the interview panel for admissions.