After failing to draw sufficient investments for its functioning, the much-touted Media Lab Asia project may be wound up with the department of information technology planning to make it a purely government-aided research and development outfit.

In its revised proposal, DIT has suggested that instead of a Research and Collaborative Agreement, which formed the basis of Media Lab, a project-specific agreement would be put in place, sources said, adding Media Lab Asia would not exist.

Even if it does exist, it cannot take the credit of efforts made by Indian institutions in collaboration with other agencies, the sources pointed out.

Media Lab Asia is a joint collaboration between Massachusetts Institute of Technology and India, they said.

The DIT has also further reduced the fund requirement of the project to Rs 900 crore (Rs 9 billion) from the earlier Rs 2390 crore (Rs 23.9 billion). Initially funding was pegged at Rs 5127.50 crore (Rs 51.27 billion).

The objective was to conduct ICT (information technology, communication, and telecom) research relevant for the common man, ensure successful implementation of research project in villages and make India a leading innovator in bringing emerging technologies to the service of the poor.

It appears nothing so far has been achieved, sources said.

In the proposed structure, there would be an academic mode of funding government R&D together with industry's participation rather than a business mode of private sector funding, they said.