Dear Alumni,
Last week, we secured another major milestone towards collecting the $52K for the ITBHU Wifi project. Rahul Shukla of EEE89, whose bio is listed below, committed $10,000 towards the Wifi project as a matching grant. Now it is up to the rest of us Alumni to donate a matching amount to take advantage of Rahul's generosity.
Rahul is a Managing Director in Citigroup Global Markets' Investment Banking team. He is based in Hong Kong and focuses on hardware electronics manufacturers, semiconductor design houses, telecom equipment vendors and alternative energy companies in Asia. Rahul completed MBA from IIM-B in 1991 and B.Tech. (Hons.) in Electrical Engineering from IT-BHU in 1989. He graduated in both his specializations as gold medalist for best academic performance.
What is a Matching Grant: This is a grant constituted by a donor where he / she lays the condition that the fund raising team would get this amount if they are able to raise an equivalent amount from other people or sources.
In this particular case the matching grant is for $10,000/- and if the team is able to raise $5,000/- from other sources then they will get only $5,000/- from the matching grant and not the full $10,000/-