Bosch to set up research facility at IISc
"As part of our global anniversary corporate social responsibility (CSR) initiative, we will invest Rs.140 crore to set up a Bosch InterCampus programme at the IISc," Bernd Bohr, chairman for automotive group Robert Bosch GmbH, told reporters here.
The proposed Rs.140-crore investment will be funded from the German behemoth's euro 50 million (Rs.300 crore) global Bosch InterCampus programme.
"With a lion's share of the total budget, the InterCampus in India will be a 10-year development project that envisages setting up an independent Robert Bosch IISc centre for research in cyber physical systems in the campus of the premier science institute.
The euro 47-billion Bosch group hopes that the funding will create a long-term research and working environment for future engineers and scientists.
"The InterCampus programme is a significant step in the direction of the corporate world contributing to the urgent cause of funding research for a greener, cleaner and efficient way of life. I hope it sets a benchmark for many more in the industry to follow," IISc's mechanical sciences department chairman K. Chattopadhyay said on the occasion.
This is the first time the century-old prestigious science institute is getting corporate funding from a transnational company after similar funding by the Tata group over the decades.
The group's global research funding initiative will support universities and research projects in India, China, Germany and the US.
"The aim is to achieve improvements in research conditions for university undergraduates and scientists and accelerate progress in promising fields of environment, energy and mobility," Bohr added.