Media Lab Europe shuts down

national | sci-tech | other press Saturday January 15, 2005 04:01 by R. Isible

MIT associated institute fails

Slashdot (News for Nerds. Stuff that Matters) has a good article written by an insider about the closing of MIT Media Lab's sister institute based in Dublin.

The central lesson of this seems to be that corporations/industry are NOT willing to sponsor basic research.

"MLE's funding model saw large companies acting as sponsors, getting rights to the Intellectual Property in return. AOL, for example, was a sponsor. However, dot.com times are gone, and companies are reluctant to invest into endevors where the return on investment is not clear." -- Blog entry by author David Reitter