Tuesday, January 18, 2005

Technology versus Dollars, er, Euros....
Dublin's hi-tech research laboratory, Media Labs Europe, is to shut down. The research center, which was started by the Irish government and the Massachusetts Institute of Technology, was a hotbed for technology concepts. Since its opening in 2000, the center has developed ideas, such as implants for teeth, and also aimed to be a digital hub for start-ups in the area.

The center was supposed to be self-funded, but has failed to attract the private cash injection it needs. In a statement, Media Labs Europe said the decision to close was taken because neither the Irish Government nor the prestigious US-based Massachusetts Institute of Technology (MIT) was willing to fund it.

This is relatively the same thing that happend when AT&T spun off Bell Labs. Sad as I am for the demise of a tech center in the home of my ancestors, nobody is ever really willing to pay for ideas. Most people want to see tangible product.
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