Indraprastha Institute of Information Technology (IIIT) has raised a sum of Rs. 15 crore for research which has ultimately prompted the government of Delhi to launch a 'fund matching' scheme to give a boost to research and private sector investments in various universities across the state. The fund has been raised by IIIT Delhi to promote research in information technology, computer science and several new-age interdisciplinary courses. IIIT Delhi received the funding from various technology corporations like Google, Microsoft, Intel and Infosys Foundation.
One of the officials stated that 'fund matching' has been tested at IIIT Delhi on a pilot basis. With an objective to promote research, the government has directed the Directorate of Education (DoE) to develop it as an incentive scheme through which it will provide a similar or matching grant to the institutes which raise funds from the funding agencies and corporations to carry out research.
He further added that the success of pilot scheme prompted the government to launch 'fund matching' scheme at all the varsities which are run by the state in Delhi. The funding will bolster the research in various fields like technology, natural sciences, finance, business, arts and humanities.
Nowadays private funding is one of the key factors for promoting research activities. Some of the premier institutes in India also receive funding from various private corporations. In the present scenario, higher education institutions need to give more emphasis to research for improving global rankings as well as quality of education.