Word: sarofim
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Dates: during 1980-1980
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...distribution of Exxon's funds allows the scientists much flexibility, Sarofim said. Twenty per cent of the total spent on designated projects will be available to the MIT scientists "for use as they see fit for combustion science research," he added...
...assurance of long-term support is extraordinarily valuable to us," Sarofim said. He added that the average cost for graduate research, including technical equipment and faculty advising, ranges from $50,000 to $100,000 per student...
This "seed money," which totals $80,000 for this year, lets the researcher explore new ideas developed during research, a practice which the traditional grants restrict, Sarofim said...
...agreement also contains an escape clause, which guarantees the scientists two years' notice for the termination of funds for their research, Sarofim said, adding that this clause assures graduate students working on doctoral theses that they will have funds to complete their projects...
...Sarofim said MIT's agreement with Exxon is modeled on a contract between Harvard and the Monsanto Corporation for medical research...