IIT Foundation Approved Projects, 2004-2006
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The IIT Foundation Board of Directors has approved the following programs for funding:
1. Unrestricted FundThese funds would be used for any or all of the approved IIT Foundation programs at the discretion of IIT Foundation Board of Directors.
2. Learn Earn ReturnThe "Learn-Earn-Return" Fund aims to create a financial support system for students and imbibe the culture of giving back among them to sustain the initiative. Students availing benefits under this scheme will be required to take an Honour Pledge to give back to the Institute. Giving back practice by the alumni has brought in transformation on various fronts at the Institute, one of them being student excellence. Supporting students' excellence is a continuous process which requires more successful KGPians contributing towards it.
3. Professor Chair Endowment FundFunds shall be held in an Endowment account that shall earn interest. When an endowment reaches Rs 4,000,000/- ("40 Lakh"), the interest income shall then be adequate to pay for a Chair Professor Position. as the endowment grows we hope to have at least one Chair per department .
4. Visiting Faculty ProgramFunds allocated to this program go to attract top-tier faculty from all over the world to visit, teach and conduct research at IIT Kharagpur.
We believe that visiting faculty deliver a fresh perspective, and expose students and faculty to new course materials and way of thinking. The visits could be for 3-5 days, one month or even a semester. The IIT Foundation Alumni Advisory Council that is overseeing the Visiting Faculty program is led by Dr. Anjan Bose, Chairman (Dean, Washington State University) and Dr. Sunil Gaitonde, Program Executive (Chairman, Sarvega).
5. Student ProgramsFunds allocated to this program are used to attract the best students to IIT Kharagpur and motivate them to attain global recognition for thier academic work . Examples of the use of these funds can be Scholarships ( example funding of graduate research assistant scholarships to attract the best B.Tech. students in India to join its Advanced VLSI Lab ("AVLSI") program. and pursue a 3-year research program), Travel grants to needy students, etc.
6. Batch Endowment ProgramThe Batch Endowment Program is a grass route initiative that reaches out to every alum of a graduating year with a request to contribute to a fund by a defined period of time . As and when that fund crosses Rupees 50 lakhs, a class room is named after the batch and names of alums who have contributed is displayed at the entrance to that class room .. All funds collected go towards creating the Vision 20-20 endowment, the intrest of which, goes to pay for strategic programs.
7. Institutional Development ("ID") ProgramFunds donated to this shall go towards covering expenses related to leveraging the alumni and corporate relations for the growth of the institute. ID program's primary mission is to support the institute's offer to strengthen domestic ranking as well as enhancing it's international stature. To achieve these goals , the ID program is aiming to engage global alumni in forward looking key initiatives as well aiming to develop sustainable fund raising program, recruitment and retention of good quality faculty, students and building the IIT Kharagpur brand. It also plays a key supporting role in engaging both corporate and the R&D program of the Institute. Alumni support is important for the success of this program.
8. G S Sanyal Award for FacultyThis is an endowment fund setup in memory of Prof G S Sanyal. Interest from this endowment will go towards funding a new annual award for faculty -- "Professor G S Sanyal Award for Lifetime Service to IIT Kharagpur by Faculty". This award shall be given by IIT Foundation and shall consist of a Trophy, Certificate and Cash prize, to be presented to a faculty member of IIT Kharagpur for lifetime devotion to Teaching, Student Mentorship and Alumni engagement.
9. Rajendra Mishra School of Engineering EntrepreneurshipThe Board of Governors in its meeting held on 17th June 2010 decided to name the School of Engineering Entrepreneurship after Professor Rajendra Mishra, a pioneer of engineering and management education who brought industry and academia together . The mission of the School is to help the students, the community and the profession to create and grow businesses by developing an understanding and practice of engineering entrepreneurship. The School will offer a five-year programme for a dual degree of B-Tech/MS Entrepreneurship . From 2nd year onwardsEach student will be attached to an innovation laboratory. The students will be mentored individually by a faculty and a successful entrepreneur to transform his/her idea to a successful, technically and commercially viable product or a process that is worthy of financing by venture capitalist / financing institutions. It is estimated that one Million US Dollars or Rupees 4.5 Crores is required to establish and sustain the School.