Named Chairs at IIT Madras

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Named Chairs at IIT Madras
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Categories of Named Chairs

• The Named Chair Professors are normally intended
  to provide special input into the teaching or
  research program at IITM in frontier research
  areas. Endowed chair Professor honors and
  nurtures academic excellence
• The Named Chair Fellow is to enable IITM to
  engage eminent experts in a field who may not
  have relevant experience to be a Professor (e.g.
  a person from an Industry). Endowed Chair Fellows
  provide inputs for R D in areas of industrial /
  social importance and relevance in furtherance of
  the goals of IITM.
• All references to Named Chairs below apply to
  both the Named Chair Professors and the Named
  Chair Fellows.

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Modes of Endowment

• Two possibilities exist for Endowed Chair
  Positions
• the Chair Professor or Fellow will work in an
  area identified in consultation with the Donor
  for a period of up to 5 years at a stretch, and
• the Chair Professor or Fellow will be an eminent
  person or expert who cannot spend long periods at
  a stretch at IITM and will be invited for short
  periods to nucleate activities in areas of
  interest to the Donor and IITM, which will then
  be continued using the endowment and other
  mechanisms available to IITM.
• The Named Chairs will be established at IITM in
  frontier research areas and areas of industrial /
  social importance and relevance. The naming of
  the Chairs will be done by IITM in consultation
  with the Donor. The endowment will be received in
  then IITM Research Foundation.

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• If the Donor makes a base endowment of at least
  Rs. 1.5 crores (or US 350,000), the Named Chair
  will be maintained in perpetuity out of the
  earnings accruing from the endowment.
  Alternatively, the Donor can provide support for
  a single 5-year period (after which the Chair
  will cease to exist), by making a donation of
  Rs.75 lakhs (or US 175,000). At the end of the
  5-year period, the Donor will have the option of
  converting the 5-year Chair to a perpetual one by
  endowing an additional Rs.1.25 crores (or US
  275,000).
• Other endowment possibilities for the named
  Chairs are as indicated below
• Endowment amount can be any amount starting from
  a minimum of US 100,000 or Rs 40 lakhs
• Named Chair Categories could be
• A US 100,000 or Rs 40 lakhs
• B US 150,000 or Rs 60 lakhs
• C US 200,000 or Rs 80 lakhs
• D US 250,000 or Rs 1 crore

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• The interest earned from the endowment will be
  accumulated and used to support the chair. All
  these endowments (A D) will be used for
  supporting short duration Chairs for varying
  periods, based on the accumulated amount from
  time to time.
• 1/25 of the endowment will be the approximate
  amount available per year from the earnings for
  operating the chair. The rest of the earnings
  will be re-invested to maintain the long-term
  value of the endowment.
• For Example an endowment of Rs 60 lakhs will
  make Rs. 2.4 lakhs available per year. This will
  enable support for
• airfare 2 months salary every year
• airfare 6 months salary once every two years

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Method of Operation

• A Memorandum of Understanding (MoU) will be
  signed between the Donor and IITM which will
  specify the Name of the Chair, the academic
  department which will host the Chair, the areas
  of research the Chair will focus on, as well as
  any additional support to be provided to the
  Chair, such as staff, travel grant etc. (for
  which the endowment must be suitably enhanced or
  an additional annual grant may be provided). The
  Named Chair will be prominently displayed on the
  Institute web site.
• Selection to these Chairs will be made as per
  IITM faculty selection procedures, which are
  aimed to staff the Institute with the very best
  minds. A representative of the Donor will be
  invited to be a member of the Selection
  Committee.
• At any point in time, the Donor and IITM will
  respectively identify a single person (by office)
  as the contact person for all liaison activities.

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• If the Donor is a Company that becomes defunct,
  and all reasonable attempts to contact the
  Company fail, the Institute will reserve the
  right, if it deems fit, to change the Name of
  Chair to IIT Madras Chair.
• If the Donor Company changes its name, and is
  desirous of re-naming the Chair, a request can be
  made giving the relevant background. The
  Institute will duly consider the request.
  However, the Institute reserves the right to
  continue with the existing Name.

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Compensation Package

• The Chair holder will enjoy the rights and
  privileges, and likewise carry the
  responsibilities, of a full Faculty of the
  Institute.
• IITM will provide necessary infrastructural
  facilities in all cases such as office space,
  laboratory facilities, telephone etc., as are
  provided to Faculty of the Institute
• A person invited as a Named Chair for a short
  period type (b) will be provided return airfare
  when required, and suitable accommodation on the
  Campus at nominal rates as applicable to the
  faculty members of IITM.
• If a person appointed to a Chair has service
  still left and holds lien at IITM, he / she will
  automatically revert back to his/her permanent
  position if he/she ceases to occupy the Chair.