Unlike the West, endowment funds still a nascent revenue source for IIMs

Although the Indian Institute of Management (IIM) Ahmedabad may have announced its first endowment fund, the revenue source more prevalent with global business schools (B-schools) in the West may still be nascent for the Indian market.

Emulating major global B-schools like Harvard and Stanford for the first time, IIM Ahmedabad recently launched a Rs 100 crore endowment fund with the help of alumni with an aim to raise Rs 1,000 crore in five years.

The fund was launched with an initial commitment of Rs 100 crore from 10 founding alumni including the likes of InfoEdge founder and executive vice chairman Sanjeev Bikhchandani