> The Research Academy > Collaborating Faculty > Student profiles > Industry and government > Prospective research students > Researchers and research institutes > Advanced computational engineering, simulation and manufacture > Infrastructure engineering > Clean energy > Water > Nanotechnology > Biotechnology and stem cell research			The Research Academy > About Us > Vision: IITB-Monash Research Academy > Objectives > Strategies to achieve the vision > Key principles of the joint venture • Objectives and Activities • Management and Personnel • Board • The Academy Research Advisory Council > Research Areas of Focus • Current Research Themes About us An increasing number of corporations, governments and research institutes are turning to India for research and development that delivers effective, high impact solutions to many of the leading research issues in the world today from climate change and renewable energy to clean water, advanced engineering and biotechnology. The Indian Institute of Technology, Bombay (IITB) and Monash University, Australia have joined forces to create a unique Joint Venture (JV) research academy (“The Academy”) that aims at enhancing research collaborations between Australia and India. The Academy will be located in a purpose built, modern facility located at the Powaii campus of IITB. The Academy will operate as an independent, autonomous research institution. The Academy will have an independent Board, a CEO, research staff and seconded staff from IITB/Monash in it. The Academy aims to attract the best talent - students as well as academic and research staff - to work on goal-directed, cross-disciplinary grand-challenges. The Academy has a long-term steady-state aspiration of housing 250-300 PhD scholars at any given point in time, pursuing various fields of scientific endeavour. The aim is for the research scholars to be supervised by the best minds from IITB, Monash University and Industry Partners of The Academy along with participation from Industry. The intention is for The Academy PhD and Post Doc scholars to be paid a healthy scholarship. This will form an attractive value proposition to talented students. Since The Academy is under-pinned by a PhD Agreement between ITB and Monash, students will receive a dual-badged PhD degree from IITB and Monash University, thereby providing another distinct value proposition that would help attract the best students into The Academy. Top Vision: IITB–Monash Research Academy The IITB-Monash Research Academy will be a unique global research partnership that delivers innovative solutions through collaborative, multi-disciplinary projects in thematic areas of strategic importance to industry and to Australian and Indian society. Top Objectives Outcomes: To provide significant and innovative research outcomes for business and government and create a bank of innovative technology through the output of multi-disciplinary research. Talent: To carry out research in areas of critical interest to global enterprises, especially those located in Australia and India, through the creation of research teams containing high calibre research staff and high quality doctoral students. Impact: To become the leading provider of contract research services and collaborative research in the Asia-Pacific region and on the global stage through the establishment of a cogent research program that is supported by high quality infrastructure. Top Strategies to achieve the vision • Engage strongly with enterprises in India, Australia and eventually, the world, • Define thematic goals, in collaboration with industry and academia and conduct innovative research programs and projects that address the research thematic goals, • Engage in use-inspired projects that address “grand challenges” in a multi-disciplinary setting, • Attract the very best talented staff and doctoral students to carry out innovative research projects, • Ensure strong collaboration between pre-eminent researchers at IITB and Monash, • Build world-class research infrastructure, • Ensure global connectivity, • Ensure that The Academy grows to a size of 200-300 PhD students and 30 Post Docs. Top Key principles of the joint venture Objectives and Activities The broad objectives of the joint venture would include providing leadership by exploiting the synergies generated by the combined research strengths of IITB and Monash University. • To develop high-quality research capability that would be used to enhance knowledge in various fields of scientific endeavour that would be of benefit to India and Australia. • To identify important long term societal research goals in partnership with government & industry, and pursue them in a professional manner. • To engage in theme-based, goal-directed and use-inspired strategic research that is carried out by strongly interdisciplinary teams that: 1. Is funded predominantly by industry and government 2. Contributes strongly to the quality of research that gets carried out at IITB as well as Monash University 3. Builds a strong cadre of extremely capable researchers in addition to the high calibre graduates produced currently by IITB and Monash University 4. Creates significant research and commercial impacts on a national and global scale 5. Enhances the brand of the Research Academy, IITB and Monash University It is anticipated that the above broad objectives will be achieved by carrying out the following activities: • To recruit and build expertise and a community of scholars, academics, students and researchers that engage in collaborative research of national (whether for India or Australia) and international significance in specific fields of strength. • To encourage the formation of collaborative and multidisciplinary research groups between Monash University, IITB, commercial organisations, government and non-governmental agencies. • To develop, publicize and promote the Research Academy's research capabilities and achievements both nationally and internationally to stakeholders including government, industry, the community, funding bodies and philanthropists. • To exploit and commercialize the results of the Research Academy's research efforts for the benefit of Australia and India. Top Management and Personnel The JV Agreement provides for the formation and appointment of an Honorary Board of Directors (Board) to the Research Academy, the Advisory Council and appointment of a CEO. Top Board The Research Academy will be managed by the Board which it is currently anticipated will consist of an equal number of representatives from each of IITB and Monash University.  The current Members of The Academy Board are: • Professor Richard Larkins (Chair), Vice-Chancellor, Monash • Dr Alan Finkel, Chancellor, Monash • Professor Edwina Cornish, Deputy Vice-Chancellor Research, Monash • Professor Tam Sridhar, Dean, Faculty of Engineering, Monash • Mr David Pitt, Chief Financial Officer, Monash • Professor Juzer Vasi, Former Acting Director, IIT Bombay • Professor Pradipta Banerji • Professor Raghunath Shevgaonkar, Deputy Director, IIT Bombay • Professor Supratim Biswas, Dean Academic Programs, IIT Bombay • Professor Krithi Ramamritham, Dean R&D, IIT Bombay • Professor Mohan Krishnamoorthy: Acting CEO • Ms Loren Miller: Observer    Top The Academy Research Advisory Council The Research Advisory Council's membership consists of eminent researchers, academics, and industry and government leaders appointed by the parties.  While the Research Advisory Council would have no determinative powers, it would provide advice to the Board concerning research priorities and strategies or any other matter requested by the Board. Members of The Academy Research Advisory Council are: • Mr Narayana Murthy (Chair), Founder and Chief mentor of Infosys, the Indian software giant • Professor Ramesh Mashelkar (Deputy Chair, Former Director-General CSIR, India, Chairman of Marico Innovation Foundation and President of the Indian National Science Academy) • Dr Pawan Goenka (COO, Automotive, Mahindra & Mahindra) • Prasad Menon (MD, Tata Power) • Dr Rao Aiyagiri (DST) • Sir Professor Gus Nossal (Chairman of the Advisory Committee of the Global Foundation) • Dr Swati Piramal (Vice Chairperson, Piramal Life Sciences Limited and Director, Piramal Healthcare Limited, India) Top Research Areas of Focus The Academy has identified a number critical issues facing industry in India, Australia and the rest of the world.  It will facilitate the formation of multidisciplinary research teams drawing on capacities within IITB and Monash University to address complex research questions. The Academy will be implementing an innovative approach to research development, focusing on developing sector-based or theme-based goals in consultation with industry, government and the research community.  Goals will be strategic and measurable and will determine the research project agenda adopted by The Academy.  This represents a departure from traditional approaches of focusing research along discipline, capability and departmental lines. While The Academy will place importance on impact and benefits, it will also focus on capability-development and strong research outputs – these would, however, be by-products of a cogent research plan rather than a key driver. Top Current Research Themes Research will be conducted in a team-based approach. Research in The Academy will be truly multi-disciplinary which will allow discoveries to be made at the interface of disciplines.  The Academy’s intention is to organise research into classes of problems that seeks to address a key research-theme or sector-goal.  Six key research themes have been identified: > Advanced computational engineering, simulation and manufacture > Infrastructure engineering > Clean energy > Water > Nanotechnology > Biotechnology and stem cell research Top			The IITB-Monash Research Academy is an exciting partnership between two world-class research institutions More about IITB and Monash