HP Labs is reorganizing to focus on research that brings in money.

Its priorities are now the Information explosion (getting the right information to the right people), dynamic cloud services (dynamically personalized based on a person's location, preferences, calendar and communities), content transformation (analog-to-digital, device-to-device, digital content-to-physical products), intelligent infrastructure (smarter, more secure devices, networks and scalable architectures that work together) and sustainability (lower carbon widgetry).

It says the restructuring is intended “to balance exploratory research with an entrepreneurial approach so breakthrough technology can be transferred more rapidly into commercial applications.”

It will pursue 20-30 large research projects rather than 150 smaller ones like it used to “based,” it said, “on insight gained from newly expanded relationships with universities, partners, customers and venture capitalists.”

It says it’s trying to address a world in which “everything is a service” that wants to be real-time.

There’s a new review board made up of technologists and business people to see the research gets commercialized. They’ll identify promising research areas and write business plans early in the projects’ lifecycle.

It’s setting up a web-based HP IdeaLab that will offer a peek into an initial six early-stage projects for consumer and developer feedback. See www.hp.com/idealab.

And there’s an Open Innovation Office meant to tickle the company’s strategic collaboration with the academe, government and the commercial sector. It’s supposed to ensure that joint research results in high-impact research that meets scientific and commercial objectives.

That means there is now an Entrepreneur in Residence Program to give VCs and their portfolio companies early access to HP Labs research. HP expects to benefit from an exchange of intelligence on trends and potential business development opportunities.

HP Labs has also established a Technology Transfer Office to speed the transfer of research into products and services through multiple routes, it says. That comes down to three channels: its own product development, IP licensing and VCs.