Meet IndiGo co-founder Rakesh Gangwal, who donated Rs 300 crore to IIT Kanpur

IndiGo co-founder Rakesh Gangwal has committed another Rs 300 crore to IIT Kanpur for the continued development of its Gangwal School of Medical Sciences and Technology, the institute said on Monday.

The latest contribution takes Gangwal's total contribution to the school to Rs 400 crore. He had donated Rs 100 crore in 2022, helping IIT Kanpur begin plans for a medical school on its campus.

Gangwal will also provide matching grants of up to Rs 300 crore against contributions from other supporters.

The initiative is aimed at encouraging alumni, philanthropists, and other well-wishers to support IIT Kanpur's plans for medical education, research, clinical innovation and MedTech.

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Medical School And Hospital Plans

The Gangwal School's development plans include a 500-bed super-speciality hospital on the IIT Kanpur campus. A 200-bed cancer care research centre has also been proposed.

The facilities are expected to support medical education, clinical research, and healthcare delivery. They are also intended to bring doctors, researchers, engineers and technology experts together to work on emerging healthcare challenges.

IIT Kanpur Director Prof. Manindra Agrawal said Gangwal's first contribution in 2022 helped the institute set its plans in motion. "This additional contribution of ₹300 crore by Mr Gangwal will help us bring this vision into reality sooner," Agrawal said.

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'First-Of-Its-Kind' Institution

Gangwal School of Medical Sciences and Technology combines IIT Kanpur's strengths in engineering, science and technology with medical sciences. It will focus on academic programmes, interdisciplinary research, futuristic medicine and MedTech innovation.

Prof. Anil K Lalwani, recently appointed dean of the school, said Gangwal's contribution showed "the power of individuals to catalyse a revolution". He said the school's vision to unite medicine, technology and innovation "will have an impact far beyond IIT Kanpur."

From IIT Kanpur To IndiGo

Gangwal graduated from IIT Kanpur with a B.Tech in Mechanical Engineering in 1975. He later earned an MBA from the Wharton School of the University of Pennsylvania.

He began his career as a production and planning engineer at Philips India and later worked as a financial analyst in the product development group of Ford Motor Co.

In 1984, Gangwal joined United Airlines as a manager in strategic planning. He held several positions at the airline before becoming president and CEO of US Airways Group in 1998. He resigned from the group in 2001.

Before joining US Airways, he worked as an executive vice president at Air France in 1994.

Gangwal later joined Worldspan Technologies, a provider of travel technology and information services to the travel and transportation industry. He served as its chairman, president, and chief executive officer.

He went on to co-found IndiGo. IIT Kanpur conferred its Distinguished Alumnus Award on him in 2000.