TCS gifts $35 mn to Carnegie Mellon University
26 August 2015
Tata Consultancy Services (TCS), global IT services, consulting and business solutions organisation, today announced a $35 million gift to Carnegie Mellon University, marking a new era of partnerships between leaders in industry and academia.
The largest corporate gift to CMU so far, and from outside the US, this donation will fund a new facility, the Tata Consultancy Services Building, which will support education and cutting-edge research by CMU faculty and students, TCS said in a release.
At approximately 40,000 square-feet, the stand-alone structure will house state-of-the-art facilities, providing collaborative spaces for CMU faculty and staff. The building will provide space for TCS staff to interact with CMU faculty, staff and students.
The gift also will endow Presidential Fellowships and Scholarships, increasing the availability of a CMU education to outstanding students, TCS said, adding that the donation will help equip Carnegie Mellon undergraduate and graduate students with the knowledge they need for future careers.
''With our shared commitment to education and research in areas that help address many challenges of our time, the partnership with TCS is both natural and extraordinarily promising,'' said Subra Suresh, president of Carnegie Mellon. ''Together, our two organisations have the capabilities and capacity to make breakthrough discoveries, and the scale to make societal impact on a global scale.''
''TCS is proud to invest in this landmark partnership with CMU to promote market-driven innovation and accelerate advancements in technology,'' said Natarajan Chandrasekaran, chief executive and managing director of TCS.
''As global leaders, Carnegie Mellon and TCS have the intellectual power, creativity, institutional nimbleness, and global reach to capitalise on new opportunities and have a lasting impact on society and industry through cutting-edge digital research and a long-term commitment to education,'' Chandrasekaran added.
TCS is among a growing group of major technology companies moving to the Pittsburgh region in recent years. More than 250 companies now have partnerships with CMU.
For TCS, a multinational company headquartered outside the US, and CMU the collaboration marks a new chapter in the region, joining a rich ecosystem of entrepreneurship supported and catalysed by the university.
''I'm very pleased to welcome TCS to Pennsylvania,'' said Pennsylvania Governor Tom Wolf. ''This is an exciting time as we see more and more companies establish and expand their presence in the state. Carnegie Mellon has been especially adept in attracting cutting-edge businesses to and near its campus, which helps to drive economic growth."
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.
Carnegie Mellon is a private, internationally ranked research university with programmes in areas ranging from science, technology and business, to public policy, the humanities and the arts.
CMU has produced at least 16 Nobel, 41 Emmy and four Oscar winners among its alumni.