In 2008, the Indian Institute of Technology, Bombay, collaborated with Monash University in Australia and IIT-B Monash Academy was instituted.

The company’s aim was to produce PhDs. Around 65 researchers are working on research projects at the institute.

IIT-B Monash Academy was registered under Section 25 of the Companies Act, 1956, as a non-profit organisation. The joint venture aims at enhancing research collaborations between Australia and India.

“The academy was set up as a firm to produce PhDs. We were silent about the project for a couple of years to see how it yields. In a year or two, the research projects that they come out with will be made in to patents and sold. The revenue thus generated will be used for our future research projects,” said Mohan Krishnamoorthy, the chief executive officer of the academy.

Out of the 65 researchers, 56% are from the IITs across the country. Several candidates also have work experience. A couple of researchers have moved out of their workplace, after 20 years, to do research.

The firm advertises the requirement of candidates on their website. Krishnamoorthy said, “We enlist all our projects on the website and then call for candidates. There is no limit to the intake capacity. We advertise twice a year, in June and in December. During every session we get more than 1,000 applications from PhD aspirants. The screening process is rigorous and only a handful of passionate candidates are picked.” Instead of having different departments as part of the firm, they have researchers working on different themes like water technology, clean energy, nanotechnology, etc.

According to Krishnamoorthy, for candidates interested in research; it is the right time to be in the country, with several multinational companies setting up research firms here.