The National Science Foundation (NSF) first announced the Presidential Young Investigator (PYI) awards program in January 1983 as part of the Fiscal Year 1984 budget submitted by the President to Congress. This program addresses the growing faculty shortages in highly competitive fields of engineering and science. The PYI awards represent a partnership between the investigators, their institutions, private industry and the Federal Government. The NSF provides each awardee with an annual base grant of $25,000 for up to five years. It will also provide up to $37,500 in additional funds each year on a dollar-for-dollar matching basis to funds made available to the awardee from the industrial sector. The grantee institution guarantees the academic-year salary of awardees at that institution. Altogether, this five-year package provides a significant start to an academic teaching and research career. The principal purpose of this booklet is to provide information to facilitate the interaction between PYI awardees and potential industrial sponsors. Section I outlines the major terms and conditions of the awards, and highlights those areas which are likely to be of interest in awardee-industry interactions. Section II contains the research interests and other information for the awardees of 1986. This information was provided by the awardees. Sections III and IV list the active 1985 and 1984 PYIs, their institutions, and fields of research. The research interest statements included were provided by the awardees. In Section V, NSF acknowledged those industrial organizations that have provided matching support for the awardees. (TW)