Bangalore: The Indian Institute of Management- Bangalore (IIM-B), in its bid to strengthen the research section of the institution, has set its eyes in the foreign shores. The institute has been on a hiring spree which is mostly from the top foreign universities. Since 2008, IIM-B has filled 23 faculty positions, and most of them are from universities like MIT, Wharton, Cornell and John Hopkins among others. These newly hired faculties all come with their doctoral degrees. To further motivate them for research activities, IIM-B is offering them many incentives. The incentives include participation in one international and national conference per year; perks for publishing in journals. That's not all. A part of consulting overhead for research grants has been set aside by the institute. There is also a fast track promotion scheme in place. Collaboration with international institutes for research has also taken shape. The premiere management institute is also addressing the issue of faculty shortage. In its bid to resolve this issue, IIM-B is mulling on the idea of introducing a new batch of professors with 15 years experience in the corporate world.