IIT (BHU) Foundation receives $2 million for alumni scholarship fund

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ALBANY, NY (11/11/2021) (readMedia)-- FOR IMMEDIATE RELEASE

IIT (BHU) Foundation receives $2 million for alumni scholarship fund

Donation from cybersecurity executive and IIT (BHU) graduate Nikesh Arora establishes the IIT (BHU) Foundation Access Fund, allowing underserved students to prepare for technology careers

(Albany, N.Y.) November 11, 2021 - The IIT (BHU) Foundation, a U.S.-based all volunteer, non-profit association of IIT (BHU) alumni, announced that Nikesh Arora, IIT (BHU) graduate and CEO of cybersecurity leader Palo Alto Networks, has endowed the IIT (BHU) Foundation with a US $2 million donation. The donation will seed the Foundation's Access Fund, enabling scholarships for underserved students to attend the premier Institute.

The IIT (BHU) Foundation is grateful for this generous donation. Incoming students will be able to apply for the scholarship awards through the Foundation's website starting December 2021, with recipients selected based on financial need. All awards through the fund will be managed by the Scholarship Committee with Kumar Jayant (EEE '89) as the Chair, with the Dean of Academic Affairs and the Dean of Resources and Alumni from the Institute also sitting on the committee.

"IIT (BHU) provides a springboard for careers in technology, and it's an honor to help deserving students gain access to these educational opportunities," said Arora, a 1989 Electrical and Electronics IIT (BHU) graduate. "As alumni, we know first-hand of the school's remarkable programs, facilities and faculty. Together with Palo Alto Networks, I'm proud to support IIT (BHU) as it broadens access to education and prepares future leaders in critical areas of technology - I look forward to many more of us joining together in support."

Of the $2 million donation, Arora will forgo his annual salary to contribute $1 million, with Palo Alto Networks contributing an additional $1 million. This is the second year Arora will forgo his salary to donate to philanthropic causes, following a donation to a global COVID Relief Fund in 2020.

Arun Tripathi (MEC '97), President of the IIT (BHU) Foundation, noted that Arora is a proud example of what IIT (BHU) alums can accomplish. "??We thank Nikesh for supporting our efforts to help deserving students attend IIT (BHU)," Tripathi said. "It was Nikesh's wish that the Access Fund not be named for him - with the hope that others will join this effort. We hope that many more alumni follow his lead."

Director of IIT (BHU), Dr. P. K. Jain and the Board of Governors also expressed their gratitude and recognized the significance of the endowment. The Foundation Access Fund will go a long way toward enhancing the reputation of the Institute and increasing access to quality education for deserving students. In his note acknowledging the gift, Dr. Jain said, "It's this continued support from current alums for future alums that makes IIT (BHU) truly stand apart. We couldn't be prouder to leverage this amazing donation for so many of our students to follow in Nikesh's exceptional footsteps."

The donation has been made through The Palo Alto Networks Foundation, a corporate advised fund with Silicon Valley Community Foundation.

Visit IIT (BHU) Foundation for more details about the Foundation and our other generous benefactors.

About Nikesh Arora (EEE '89) Nikesh Arora graduated from Indian Institute of Technology (Banaras Hindu University) in 1989 with a degree in Electrical and Electronics Engineering. He joined Palo Alto Networks as chairman and CEO in June 2018. Before joining Palo Alto Networks, Nikesh served as president and chief operating officer of SoftBank Group Corp. Prior to that, he held a number of positions at Google, Inc. during a 10-year span, including senior vice president and chief business officer, president of global sales operations and business development, and president of Europe, the Middle East and Africa. Prior to joining Google, Nikesh held the role of chief marketing officer for the T-Mobile International Division of Deutsche Telekom AG. He was chief executive officer and founder of T-Motion PLC, which merged with T-Mobile International in 2002. Click here for more about Nikesh Arora and Palo Alto Networks.

About the IIT (BHU) Foundation The US based all volunteer, 501 (c) 3 non-profit Foundation strives to enable the transformation of IIT (BHU) into a trendsetting pioneer over the next 100 years, synchronizing the goals of the institute with the generosity of our alumni and donor network by means of their kind contributions. With an intent to raise, allocate and manage capital flow, the Foundation works in close and constant coordination with IIT (BHU) and IIT (BHU) Global Alumni Association.

Click here for more information.

About IIT (BHU) The Indian Institute of Technology (Banaras Hindu University), Varanasi is situated in the magnificent campus of Banaras Hindu University at the southern end of the ancient city of Varanasi on the banks of the holy river Ganga. Engineering Education in Banaras Hindu University commenced in 1919 with the establishment of Banaras Engineering College (BENCO). In 1969 BENCO, College of Mining and Metallurgy, and the College of Technology were amalgamated to form the Institute of Technology. On 29th June 2012, the Government of India converted IT-BHU into Indian Institute of Technology (Banaras Hindu University). The institute aspires to be a harbinger of modern interdisciplinary technological advancement in the country and at a forefront of imparting quality education by use of innovative pedagogy culminating traditional with contemporary methods. Click here to learn more about IIT (BHU)

For Further Information Contact

Asit Goel (MEC '95), Marketing Chair, IIT (BHU) Foundation

asit@iitbhufoundation.org

Photo: Nikesh Arora

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