TCS gifts Carnegie Univ $35 mn for new facility, scholarships

TCS gifts Carnegie Univ $35 mn for new facility, scholarships

TCS gifts Carnegie Univ $35 mn for new facility, scholarships

Carnegie Mellon University (CMU) today said it has received a USD 35 million (about Rs 231.2 crore) gift from India's largest software services firm, Tata Consultancy Services for setting up a new facility and scholarships for students.

"Representing the largest corporate gift to CMU and the largest gift from outside the US, this donation will fund a new facility, the TCS Building, which will support education and cutting-edge research by CMU faculty and students," CMU said in a statement.

At about 40,000 square-feet, the stand-alone structure will house state-of-the-art facilities, providing collaborative spaces for the CMU community, it added.

The building will also provide space for TCS staff to interact with CMU faculty, staff and students, it said.

The gift will also endow Presidential Fellowships and Scholarships, increasing access to a CMU education for outstanding students, the statement said.

"With our shared commitment to education and research in areas that help address many challenges of our time, TCS' support of Carnegie Mellon is both natural and extraordinarily promising," Carnegie Mellon President Subra Suresh said.

Together, the two organisations have the capabilities to make breakthrough discoveries and the capacity to make societal impact on a global scale, he added.

"TCS is proud to invest in this landmark partnership with CMU to promote market-driven innovation and accelerate advancements in technology," TCS CEO and MD Natarajan Chandrasekaran said.

TCS joins a growing group of major technology companies moving to the Pittsburgh region in recent years. More than 350 companies now have partnerships with CMU. Among the nation's major research universities, Carnegie Mellon ranks first in startups per research dollar, according to the Association of University Technology Managers. Since 2008, CMU faculty, students and alumni have created 215 new companies.

These startup activities also will benefit from CMU's largest campus expansion since Andrew Carnegie founded the university in 1900. Work has begun on the David A. Tepper Quadrangle, the university's major new academic hub, which will be located just east of the new TCS facility.