Dr Sharad Kumar Saraf
Once an alumnus of IIT-B, now the governor of IIT-B and IIT-Jammu
Dr Sharad Kumar is the first alumnus of IIT Bombay to serve as the Chairperson of the Board of Governors at his alma mater. He is also the Chairperson of IIT Jammu. One of India’s most successful entrepreneurs, Dr Sharad has embarked on two admirable projects, the rejuvenation of Powai Lake and the establishment of a ₹250-crore venture capital fund specifically for IIT Bombay, beyond his core business pursuits.
Dr Sharad Kumar Saraf, an alumnus of IIT Bombay (B.Tech. 1969, Electrical Engineering), has made history by becoming the first alumnus to serve as the Chairperson of the same Institute’s Board of Governors (BoG). Before his appointment, he was a member of the BoG for four years. Before him, Dr Pawan Goenka, the Chairperson of INSPACe at the Department of Space, Government of India, was the Chairman of the Board of Governors. In addition to his role at IIT Bombay, Dr. Saraf is now also serving as the Chairperson of the Board of Governors (BoG) at IIT Jammu.
Upon his appointment, Dr. Saraf expressed his excitement about this new responsibility: “I am very excited about the opportunity I have been given. This is a significant milestone as it marks the first time an alumnus of IIT Bombay has been appointed as Chairperson of the BoG. I believe this is a bold step by the Ministry of Education. My objectives as Chairperson of the BoG at IIT Bombay are three-fold: to enhance the quality of education and student life on campus by improving hostel infrastructure and academics; to focus on research that is both relevant and commercially viable; and to support start-ups, particularly those funded by our alumni.”
Dr Sharad Kumar Saraf has embarked on a project to rejuvenate the dying Powai Lake of Mumbai. The dumping of debris and plastic waste has severely polluted the water, endangering aquatic life. Untreated sewage and garbage from eight to ten inlets from nearby slums have caused the lake water to undergo eutrophication, making it increasingly toxic and threatening aquatic life, he points out. The nutrients from the sewage discharge lead to an algal bloom, which subsequently decomposes the aquatic plants and vegetation. This consumes undissolved oxygen in the water, which endangers marine life. “We look at this issue seriously and have taken up the issue with other stakeholders like Hiranandani Garden, Larsen & Toubro, the Indian Institute of Technology (IIT) and other properties around the lake,” he says. The rejuvenation plan, guided by Dr Sharad, includes developing a world-class recreational shoreline.
IIT is the centre of world-class Indian talent and is naturally a fertile ground for start-ups. But they need financial support. “We are creating a venture capital fund that can support incubation centres. We have already done more than 260 start-ups in the last 10 years and incubated 60 start-ups. However, they had to go outside for capital due to the lack of IIT-specific VC funds. With the formation of ₹250 crore IIT-specific VC Fund, we will be able to support all the start-ups emerging from the IIT-B,” he says.
