There is PR going around lately for a great idea, MIT's Fabrication  Lab.  It is a lab sponsored by the school (and no doubt a few private sector firms) that offers people a place to fabricate a new device.

The lab includes traditional fabrication tools such as a laser cutter, milling machine and computers with programs used by product designers (Autocad, PCB layout tools).  The labs are located around the world so the devices created have been reflecting cultural needs - for example, a solar powered cooker in Ghana.

This is an excellent idea that introduces students to the mechanical aspects of making a product rather than just focusing on software.  It also illustrates how inexpensive ($25,000 per lab) this type of equipment has become. 

Look out for more entrepreneurs and young start-up companies who build interesting and innovative devices rather than just software solutions.