AOL Shells Out $200K To Join MIT Media Lab Consortium

AOL has joined the Massachusetts Institute of Technology Media Lab as a sponsor, which according to the consortium's site, costs around $200,000. The MIT Media Lab is a research community that focuses on the study, development and invention of digital technologies. The sponsorship, which lasts for 3 years, was spearheaded by AOL Ventures, an investment fund launched by AOL in 2009 to nurture early-stage external and employee-originated ideas. With the sponsorship, AOL have access to all of the research conducted at the Lab; Lab-wide visiting privileges; open invitations to Lab-wide lectures and special events; and most importantly, non-exclusive, license-fee-free, royalty-free licensing rights for IP that's developed within the lab.