Ashok Soota Promoted SKAN Medical Research Trust Provides A Grant Of Rs 20 Cr To IIT Roorkee

Mr. Ashok Soota promoted SKAN Medical research trust today announced a grant of Rs 20 Cr to IIT Roorkee towards sponsoring a Chair Professorship, three Faculty Fellowships, creation of a lab and funding of joint research projects.

IIT Roorkee (IITR) is engaged in teaching and research in Science, Engineering, Management, Humanities & Social Sciences and Architecture & Planning disciplines. In particular, IITR is engaged in research in the field of Biological Sciences and Bioengineering. As part of its support to medical research in India, SKAN has agreed to provide a grant of Rs. 20 Cr to IITR.

The grant of Rs 20 Cr will be utilized by IITR towards:

·         Funding of an Institute Chair Professorship, two new faculty Fellowships and one Institute Research Fellowship.

·         Establishment of a wet-lab in IITR.

·         Funding of joint medical research projects. The first project under this agreement has already been identified and it is in the area of bipolar disease.

Mr. Ashok Soota, Chairman, SKAN Trust said, “I am delighted to have this opportunity to give back to my alma mater through this grant. There is negligible private funding towards medical research in India and I was pleased to see that IITR is doing excellent work in this area. I see this as a good opportunity for me to contribute and also fulfill these needs of IITR.”

Mr. B.V.R. Mohan Reddy, Chairman BoG, IIT Roorkee said, ”A big thank you Mr. Soota for giving back to your alma mater. Your generous funding will give further momentum to Biological Sciences and Bioengineering research at IITR. I am confident that IITR will make good use of your funding for research in ageing and neurological disorders to make the world a better place to live. You are an exemplar alumni and a role model for present and future generations.”

Prof Ajit K. Chaturvedi, Director, IIT Roorkee said, “Today is a momentous day in the history of IIT Roorkee. With one stroke, our alumnus Shri Ashok Soota has made a beginning in several directions. After a long gap, we are seeing an India based IIT alumnus make such a generous grant to his/her IIT. I am delighted that this time the donor happens to be an alumnus of IIT Roorkee. It marks a new chapter in the alumni engagement of IIT Roorkee. Through this gesture, Mr. Soota has also made a beginning in terms of directing private funding to support medical research in India. We are proud that our Institute has produced an alumnus as accomplished and innovative as Mr. Soota. We applaud his commitment to give back to society”

About SKAN Medical Research Trust

SKAN is a public charitable trust set up for Medical research by the Soota and Karedan families with funds commitment of Rs 200 Crores. SKAN was launched on April 5, 2021. SKAN denotes scientific knowledge for ageing and neurological ailments. Ashok Soota is Chairman/Managing Trustee for SKAN and Davis Karedan is Chief Operating Officer/Trustee.

SKAN is probably India’s first not for profit entity set up by the private sector, exclusively for medical research. For problems related to both ageing and neurological disorders, the philosophy of the research will include searching for kinder, gentler therapies; delaying the onset and slowing down the progression of the disease and providing persons a better quality of life even as they live with the illness.

About IIT Roorkee

Indian Institute of Technology Roorkee is among the foremost institutions of national importance. Since its establishment, the Institute has played a vital role in providing technical manpower and know-how to the country and in pursuing globally recognized research. The Institute ranks amongst the best technical institutions in the world and has also been considered a trend-setter in education and research in the field of science and engineering. The Institute is now heading towards completion of 175 years since its establishment in 1847. It was converted to an IIT in 2001 and was declared as the nation’s seventh Indian Institute of Technology.