Narayana Murthy Urges Reform in Education Institutions: ‘Look at MIT, Harvard, Stanford’

Narayana Murthy Urges Reform in Education Institutions: ‘Look at MIT, Harvard, Stanford’

Last Updated May - 17 - 2024, 05:06 PM | Source : HT | Visitors : 12

Infosys founder NR Narayana Murthy urges changes to rules preventing share donations by entrepreneurs to academic institutions, highlighting missed opportunitie
Narayana Murthy Urges Reform in Education Institutions: ‘Look at MIT, Harvard, Stanford’

Infosys founder NR Narayana Murthy said that there is an urgent need to revamp of “archaic rules” which stop the contribution of shares by entrepreneurs to academic institutions. Entrepreneurs have shares rather than ample capital in their startups’ early stages, he said on the sidelines of Infosys Science Foundation’s media briefing.

“We have to change some of the archaic rules. For example, even today, an entrepreneur cannot donate shares,” he said as he was asked whether enough is being done by the alumni and the industry for academic institutions.

Infosys co-founder Kris Gopalakrishnan said, “More is needed… Look at the US universities, MIT, Harvard, Stanford, etc. They get endowments in billions of dollars. Today, our institutions primarily depend on government funding, I would like to see equal funding, I want to see more industry participation.”

Talking about his wife Sudha Murthy’s 1995 attempt to donate ₹4.5 crore to the Indian Institute of Science, Bengaluru, Narayana Murthy said that the amount could have been valued at ₹3,000 crore as of today if the rules had been different.

“Lots of innovations are taking place in the corporate world, they are needed even in academic institutions,” he said. He also talked about the time when he wanted to donate shares to his alma mater IIT Kanpur in the late 1990s. He said, “That time none of us had any money, the only thing we had was shares. They wanted us to give only money, not shares. If only they had accepted shares, if they had kept it.”

Stay ahead with educational updates! Join our WhatsApp channel now for the latest insights and knowledge boosts. Don’t miss out, join today!

READ MORE| CBSE Begin Free Counselling Services from May 14: Full Details Here

Share :

Trending this week

Supreme Court Questions Centre: ‘Was Entire NEET Paper Solved Before Exam?’

Jul - 19

The Supreme Court heard a number of petitions on Thursday seeking a re-test or cancellation of the 2024 NEET-UG – for admission to undergradu... Read More

IIT Guwahati Researchers Find RNA-Destroying Role, More Details

Jul - 19

The biochemistry of the African Swine Fever Virus (ASFV) protein has been studied by researchers at the Indian Institute of Technology Guwahati (II... Read More

61st Convocation at IIT Madras: Achievements and Highlights

Jul - 19

The Indian Institute of Technology (IIT) Madras held its 61st convocation, where 2,636 students graduated, with 3,016 degrees awarded, including jo... Read More