The KBC Research Foundation Pvt Ltd (KBCRF) was established in the year 2000 in Chennai, promoted by K B Chandrasekhar and aimed at carrying out applied R&D in cutting edge areas of science and engineering, leading to the generation of Intellectual Property of economic and societal value. Towards this goal, KBCRF set up the AU-KBC Research Centre (the Centre) in Anna University Chennai (the University) through an MoU with the University, and the Centre today represents a novel and unique initiative in Public-Private-Partnership (PPP) in Indian R&D. As per the MOU, KBCRF funds the setting up of the Centre initially, as well as continues supporting it financially till the Centre generates enough revenues to support itself through activities such as Sponsored R&D, Consultancy, Testing, Training, IP commercialization, etc. KBCRF hires Scientists who work as Member Research Staff (MRS) at the Centre, enjoying all the Academic privileges of the University Faculty. Like other Research Centres of the University, the MRS applies and receives R&D grants etc from government through the University channels. IP s generated at the Centre are jointly owned by KBCRF and the University, with the former having the right of first refusal for their commercialization. The PPP spirit underlying this R&D ecosystem is reflected in the composition of the Governing Council that has members from both the parties to the MOU. KBCRF has funded the setting up and running of the AU-KBC Centre for the first 15 years , and with the support of the University, it has become a leading centre for high quality research in India in the fields of Information Sciences and Life Sciences.