IIT-K signs MoU with Anil and Kumud Bansal Foundation for US$2.5 million

The contribution made as Founder’s Circle for medical school at IIT Kanpur

Our Bureau

The Indian Institute of Technology Kanpur (IIT Kanpur) announced the signing of an MoU with the Anil and Kumud Bansal Foundation to support the establishment of the School of Medical Sciences and Technology (SMST) at IIT Kanpur. Anil Bansal, the proprietor of the Anil and Kumud Bansal Foundation, is an alumnus of IIT Kanpur, and runs the Foundation, along with his wife Kumud Bansal. Under the MoU, the Anil and Kumud Bansal Foundation pledges to donate an amount of US$2.5 million for the establishment of the School. The School is now being named as Gangwal School of Medical Sciences and Technology.

Prof. Abhay Karandikar, Director, IIT Kanpur said, “Our vision has been getting shaped with the growing generous insights and contributions from our global alumni network. We planted the seed for setting up a dedicated school to bridge the gap between medical and technology disciplines in order to bring a paradigm shift in medical research and innovation in India, and now it is our alumni who are coming forward to help us nurture that vision into a reality. We are grateful for this generous contribution from our alumnus, Mr. Anil Bansal, and welcome him to be a part of the Founder’s Circle in our endeavor to achieve this goal.”

Mr. Anil Bansal said, “To be able to contribute to one’s alma mater always feels great and when the occasion is such a noble one, the excitement gets multiplied. I am glad to witness IIT Kanpur scaling new heights under the able leadership of Prof. Abhay Karandikar and believe that this new endeavor to set up a one-of-a-kind School of Medical Sciences & Technology would truly bring a new outlook to the field of medical research and innovation in India. My wife Kumud, and I are delighted to be part of this journey.”

Mr. Anil Bansal graduated with a Bachelor’s degree in Mechanical Engineering in 1977 from IIT Kanpur and went on to study at the University of Notre Dame. He is the President of First National Realty Management, which owns and manages commercial properties throughout the United States. A true entrepreneur, he was the main founder of Indus American Bank, as well as an investor in many IT companies. Mr. Bansal is active in his New Jersey community and serves on the boards of several corporations and charity organizations. He is also an active member of the Rotary. Mr. Bansal also runs the Bansal Charitable Foundation, which provides financial support to many nonprofit organizations in the US.

The medical school at IIT Kanpur will be completed in two phases. Phase I of the project will include setting up a 500-bed Super-Specialty Hospital, Academic Block, Residential/Hostel, and Service Block with a total built-up area of approximately 8,10,000 sq ft. Phase I will also include setting up Centers of Excellence (CoE) for pursuing R&D activities in futuristic medicine. This phase is tentatively planned to be completed over the next 3-5 years. The Phase II of the project will see the hospital capacity grow to 1000 beds, expansion in clinical departments/centers, research areas, the inclusion of paramedical disciplines, alternative medicine, hospital management, sports medicine, and public health programs. The Phase II is planned to be completed over a period of 7-10 years.

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