MUMBAI: The Indian Institute of Technology Bombay (IIT-B) announced that it has signed a Memorandum of Understanding with Rice University during an event held at the U.S. Consulate in Mumbai. As part of the agreement, the two institutions will host a student exchange program and engage in research collaborations.

The core focus of the collaboration will be on Engineering and Management. While Rice and IIT Bombay faculty have visited each other for many years, the idea of the agreement was first discussed during Prof. Leebron's visit to IIT-Bombay last January and during Prof. Misra's visit to the Rice campus last May.

Rice and IIT-Bombay will work to establish a formalized exchange program that offers specifically engineering students, but open to all students, an opportunity to have a varied and full course load for a semester or summer program on the IIT-Bombay and Rice campuses that meet the requirements toward a degree at each student's respective institution and maximize intellectual exchange.

Commenting on the proposed benefits, Rice University President David W.Leebron said that the Deans of Engineering & Business and the professors of Rice University are keenly interested in the exchange of culture and research between the two institutions.

Prof Ashok Misra, Director, IIT Bombay said that since Rice University has roughly the same size and focus as IITB, we see tremendous scope for mutual exchange of ideas in technology providing a win-win situation for both Institutions.

Speaking on the occasion, David Leebron, President -Rice University said, "We are thrilled to have established with this agreement the foundation for deepening our relationship with IIT Bombay.

This is an important milestone in Rice's plan to create and sustain meaningful connections with India in both teaching and research. IIT Bombay, with its extraordinary student body and accomplished faculty, is an ideal partner for us."