FedEx Express (FedEx), a subsidiary of logistics major FedEx Corp, has committed $10 million in grants to Indian Institute of Technology (IIT) – Bombay and IIT-Madras. This would contribute to the establishment of globally recognized centres of excellence (COEs), strategically located within physical infrastructure on both IIT campuses, FedEx said.
The COEs will spearhead research and development, nurture a dynamic talent pool, support fellowship programmes for master’s and doctorate students and actively catalyze the growth of the startup ecosystem in India, the logistics giant added.
“At FedEx, we aspire to make supply chains smarter for everyone. Beyond reshaping the logistics landscape, we are also committed to making a meaningful contribution in our communities. We know our collaboration with these esteemed institutions will be important in achieving those goals,” Raj Subramaniam, president and CEO of FedEx Corporation, said.
“With a specialized focus on operations research and network planning, we aim to spearhead developments that optimize efficiency, enhance strategic planning, and contribute to the broader landscape of sustainable logistics advancements,” IITMadras director V Kamakoti said.
IIT-Madras officials noted that the CoE would actively seek research-driven projects and encourage innovative ideas from the ecosystem outside campus. It will also foster startups in the logistics sector. It will primarily focus on solving the complexities of cross-border logistics through innovation and digital technologies.