Object

 

The main objects of PanIIT Fund are:

  • ·      To act as a Social Fund under Category 1 of the AIF Regulations 2012.

    ·         To promote participation of IIT Alumni in philanthropic and social enterprises.

    ·         To create, catalyse, support, invest in and promote social entrepreneurs and social enterprises

    ·         To facilitate technological interventions through development, repurposing or modification of civil or military technologies for social ventures.

    In order to promote the participation of Alumni of all the IITs in nation building activities, the PanIIT Fund catalyses the creation, growth and globalisation of social initiatives which primarily target Indian needs in India. Social venturesthat work and involve the direct participation of the Institutes are branded as "IIT" whereas those that work independent of the institute and are primarily alumni led activities are branded as "PanIIT".

    The PanIIT Fund is closely aligned with the overall PanIIT Alumni Movement. It has been designated as the official fund of the IIT Alumni Council, the nodal global body of IIT Alumni. It is also a partner organisation of PanIIT Foundation (a CSR contribution aggregating arm), PanIIT Institute (modelled on the Fraunhofer Institute of Germany for commercialisation of indigenous research), PanIIT Forum (the primary public policy and regulatory think tank) and PanIIT Alumni (an event management company that hosts alumni events). It must be disclosed that several of the PanIIT and IIT Alumni initiatives are financially supported by the PanIIT Fund.

    There are several PanIIT Fund initiatives that aspire to  further the stated objectives of the IIT Alumni Movement. For example, a major combined initiative of the PanIIT entities is the revitalisation of the technopreneurship ecosystem to make it a prime driver of economic growth and employment in India. This includes both the social entrepreneurship ecosystem as well as the startup and technology intensive commercial entity ecosystem

    In addition, the PanIIT Fund supports working and study groups in areas such as health tech, build tech, food tech, data, digital transformation and fintech through the PanIIT Institute.

    The PanIIT Fund primarily fundsentities that are institutionalised, promoterless, professionally managed, stock market listed (or soon to be listed), Board run company format at the seed or startup stage itself and has been working with various stakeholders to enable the creation of an appropriate ecosystem for the same.

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