MIT media lab to launch Indian unit in June

NEW DELHI: The Massachusetts Institute of Technology's (MIT) Media Lab will

launch an Asian version of its technology incubator in India in June, India's

Minister for Information Technology Pramod Mahajan, said on Thursday.

The project, which is geared towards helping the region develop its

technological capabilities, is expected to cost up to $1 billion over 10 years,

Pramod Mahajan told a news conference in New Delhi. "They are coming here

on June 25 and we will sign an agreement," Mahajan said. "The project

will be reviewed every three months during the first year after which we will

sign another agreement for 10 years."

The Indian government would pay 20 per cent of the cost and the rest would be

mobilised by MIT, the minister said. The funding far exceeds the amount spent by

MIT's Media Lab in Boston, which has an annual budget of $35 million to $40

million.

The Media Lab had in February said that India had "tremendous potential

in terms of human intellect and human resources." The Lab, which has

developed innovative technology products such as interactive toys and

"wearable computers" - computers embedded in clothes - said an

incubator could further spur entrepreneurship and address issues such as

literacy and medical care.

More than 170 corporations, including Microsoft Corp. and Compaq Computer

Corp., participate in Media Lab programmes at MIT, where they work with faculty,

research staff and students.

(C) Reuters Limited 2001.