FedEx commits $10 million to set up centres of excellence at IITs

Chennai: FedEx Express (FedEx), a subsidiary of logistics major FedEx Corp, has committed $10 million in grants to the Indian Institutes of Technology (IIT) Bombay and Madras. This will contribute to the establishment of a globally recognised Centre of Excellence (COE), 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 programs 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 specialised 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,” V Kamakoti, director, IIT Madras, said.
IIT Madras officials noted that the CoE will actively seek research-driven projects and also encourage innovative ideas from the ecosystem outside IIT Madras. It will also foster startups in the logistics sector.