Flipkart co-founder Binny Bansal commits Rs 70 crore to set up the Binny Bansal Institute in Punjab

Plaksha University in Mohali has announced the launch of the Binny Bansal Institute for Inventing the Future (IIF), backed by a Rs 70 crore commitment from Flipkart co-founder Binny Bansal. 

The institute will focus on advanced technologies such as artificial intelligence, blockchain, and robotics, aiming to develop scalable solutions for crucial areas like healthcare, agriculture, clean energy, and environmental sustainability.

Bansal, who also founded the software and consulting firm Xto10x, said he believes these emerging technologies can help solve real-world problems and significantly improve quality of life. He said the new institute will work on bridging the skills gap for AI talent, transform research into practical applications, and encourage strong partnerships among universities, private companies, and the government to ensure that innovations quickly make it to the market.

The university has established a tie-up with the University of California, Berkeley, including the Berkeley Artificial Intelligence Research Lab. The collaboration will involve joint research projects, faculty and student exchanges, and several initiatives to broaden AI education.

Professor Shankar Sastry, Founding Chancellor of Plaksha University, said the partnership will add global expertise and insights to India's deep-tech sector, helping the country gain a stronger position in fields like biotechnology, climate science, and financial technology.

Last year, Plaksha University started a similar institute, the Info Edge Center for Entrepreneurship, to foster mentorship and incubation for aspiring founders. Over time, the university has attracted leading entrepreneurs and corporate donors such as Bharti Foundation, Havells, the HT Parekh Foundation, Mphasis, Axis Bank, and Motilal Oswal.

It is also backed by prominent figures in business and technology, including Neeraj Aggarwal of BCG, Rakesh Bharti Mittal of Bharti Enterprises, Hitesh Oberoi of Info Edge, Srikanth Velamakanni of Fractal Analytics, Sujeet Kumar of Udaan, and CP Gurnani, former CEO of Tech Mahindra.