Infosys' Murthy on alumni not donating in India: ‘Rules limit us’

Billionaire Infosys founder Narayana Murthy talked at Infosys Science Foundation’s media briefing.

Murthy was asked if alumni and the industry contribute enough to their academic institutions.

He called for a change in rules.

Infosys founder also abhorred the general trend of owning more capital than shares during the early stages of startups.

“We have to change some of the archaic rules. For example, even today, an entrepreneur cannot donate shares”: Murthy shared.

Need To Change "Archaic Rules":

Murthy said there is an urgent need to revamp "archaic rules" which stop the contribution of shares by entrepreneurs to academic institutions. 

“We have to change some of the archaic rules”: Murthy said.

Murthy also shared that his wife Sudha Murthy’s 1995 attempt to donate ₹4.5 crore to the Indian Institute of Science, Bengaluru could have been valued at ₹3,000 crore as of today.

Murthy’s colleague and Infosys co-founder Kris Gopalakrishnan jumped in.

Kris said: “More is needed... Look at the US universities, MIT, Harvard, Stanford, etc. They get endowments in billions of dollars. Today, our institutions primarily depend on government funding, I would like to see equal funding, I want to see more industry participation.”

Talking about his wife Sudha Murthy’s 1995 failed attempt to donate ₹4.5 crore to the Indian Institute of Science, Bengaluru. 

He said the amount could have been valued at ₹3,000 crore as of today if the rules had been different.

He also shared about his failed attempt to donate shares to his alma mater IIT Kanpur in the late 1990s. 

He said, “That time none of us had any money, only thing we had was shares. They wanted us to give only money, not shares. If only they had accepted shares, if they had kept it.”