Hewlett-Packard is shaking up the way it sponsors university research. The computer maker is redoubling efforts to tie grants more closely to work in its labs.

HP Vanessa Yanez, +1-650-857-8587 vanessa.yanez@hp.com HP Media Hotline, +1-866-266-7272 pr@hp.com www.hp.com/go/newsroom Logo: http://www.hp.com HP (NYSE:HPQ) today announced the 41 professors it has selected to receive its HP Labs Innovation Research Awards (http:// www.hpl.hp.com/open_innovation/irp/), which fund strategic joint research projects between academic research institutions worldwide and HP Labs (http://www.hpl.hp.com/), the company's central research arm.

By Scott Duke Harris Positioning itself to capitalize on the new era of "cloud computing," Hewlett-Packard on Thursday announced a dramatic restructuring of its research efforts, refocusing from 150 projects into 20 to 30 larger projects that reflect a new vision for an "everything as a service" Web.

Prith Banerjee, a 46-year-old former academic, is on a mission to shake up Hewlett-Packard's famous research labs.