The initiator of the prize is Prof. Satyabrata Chowdhury, the President of IIMC. He used to be a Principal of a college, which was indeed a direct link to educating students. He is still keeping his trend of educating students by initiating this prize. He has made this arrangement in memory of his beloved mother, Late Bonojyotsna Devi. The prize money is his personal contribution to encourage the students of IIMC schools. Every year, this prize is given to 5 students who score highest results among all the students.