Vision

To attract top-notch young faculty to IIT Bombay and nurture their development in supporting IIT Bombay’s “Tryst with Excellence” and continued global technological leadership.
 
About YFA

The Young Faculty Award (YFA) was initiated in 2007 as the legacy project of the class of 1982 and since then become one of the most successful alumni funded projects at IIT Bombay.

 YFA gives a joining bonus of 4 lakhs (USD$ 6,600) over a period of 3 years to every new faculty hire at IIT Bombay. Incentivization has led to a significant increase in the acceptance rate of appointment letters at the Institute. Currently there are over 200 faculty beneficiaries of YFA. In the last financial year (2015-16), 127 faculty members benefited from the program with an annual disbursal of Rs. 1,29,00,000 crores (USD$188665).

 The initiative is driven primarily through alumni contributions and the original legacy project has now on the strength of its success become an universal program supported by alumni across batches. Apart from Individual donations, the batch legacy projects of the class of C80, C82, C83, C84, C85 and C87, C88, C89 and C90 have all supported YFA.

Why you need to Support YFA
  • This is easily one of the biggest “financial” projects of IITB and existing funds need to be topped up on an annual basis to ensure the perpetuity of the program.
  • The rate of hiring is higher than expected and with the increase in the number of IITS and other educational institutions also hiring, the challenge of recruiting the best possible faculty will only become harder.
  • Inflation forced IITB to revise the original 3 lakhs grant to 4 lakhs already and IIT may need to do so again in the near future. This will increase the need for more funds.
  • Your funds will help IITB attract the best talent in the country. With top ranking students opting for IITB and now with top teachers doing likewise, IITB’s standing amongst all institutes will grow exponentially.
 Governance

YFA is an alumni aided initiative whose implementation is carried out by IITB in close consultation with LAC (Legacy Advisory Committee) comprising of alumni drawn from academia and fund managers.