Arduino
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During the recent LEGO2NANO summer school held at Tsinghua University in Beijing, a group of Chinese and English students succeeded in making a Lego-based scanning atomic force microscope with nanoscale resolution in five days at a cost less than $500.
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Developed by start up company Infinity Aerospace, Ardulab is an open source experiment package based on the Arduino processor that provides students and others with the ability to send experiments into space for under US$5,000.
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Dhairya Dand's prototype ThinkerToys are edutainment modules designed to put functional e-waste such as PS/2 keyboards and mice to good use.