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Abu Dhabi Future Energy Company, aka Masdar, plans to fund research and development of a variety of alternative energy technologies, foster the businesses that create them, and use the emirate's financial clout to make these expensive ideas economical, according to the Financial Times.

Google's first open source play, OpenSocial, is an interoperable toolkit for building social networking apps. It aims to make the lives of widget and app developers a little easier. At the same time it lets Google indirectly challenge its major social networking competitor: Facebook.

The other open project, which comprises a group of handset makers, carriers and silicon manufacturers, is dubbed the Open Handset Alliance. It centers around a new, Linux-based mobile operating system for smartphones, called Android. It's Google's long-awaited play for the mobile space.

Quoted: Get Wired's take on technology business news and the Silicon Valley scene including IT, media, mobility, broadband, video, design, security, software, networking and internet startups on Wired.com

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