Washington: An eminent Indian-American entrepreneur and a IIT Kharagpur passout has pledged $1 million for setting up a Center for Petroleum Engineering at her alma mater.
Ruma Acharya-Deysarkar worked for Getty Oil and Texaco and Baker Hughes in Oil and Gas Industry in Houston. She founded Grounded Technology and grew the business to employ 50 people - in Construction and Environmental Science area focused in Texas.
She, along with her husband, Asoke Deysarkar pledged to donate the $1 million during IIT 2013 Global Conference in Houston.
"IITians want to make a difference to the world and desire to give back," said Partha Sarathi Chatterjee, chair of the conference held from December 5 to 8.
Pan IIT India, a group of ex-IITians is planning to develop an online portal for the kids in the rural India to take advantage of the online courses. This will be for 6th to 12th Standard students only, he said.
Two other IIT alumni have announced an award up to $100,00 each to selected winners of business plan competition.
"Conference was about giving back through inspiring innovation for tomorrow. It was not only about promoting the IIT brand but to encourage and initiate giving back to alma-mater, India and greater humanity through innovation," Chatterjee said.
During the conference Hersh Kumar Legacy Fund and PFP Industries Fund announced to make an investment each of $100,000 in startups to be potentially awarded to selected winners of Business Plan Competition.
Some 1,600 world leaders, energy experts, technology professionals and engineers from around the globe attended the IIT 2013 Global Conference in Houston. Among the eminent speakers were Nobel laureate Amartya Sen, former Mexican president Vicente Fox.
Flight Director of NASA's Apollo 13 Mission Gene Kranz delivered the keynote address.