President Ramnath Kovind has launched IIT Delhi's Endowment Fund. The institution's alumni will contribute to this fund which will be operated on the lines of such funds being run by the leading universities like Harvard and Stanford.This endowment fund already has commitments worth Rs 250 crore and is expected to touch Rs 1,000 crore corpus by the end of 2020. The aim is to hit the billion dollar mark over the next seven years.