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International lighting giant Royal Philips announced Tuesday it is consolidating its North American research and development efforts in Cambridge so that it can be close to the Massachusetts Institute of Technology and other Kendall Square innovators.

The company and school also announced a 5-year, $25 million collaboration effort that will bring academic and company researchers together to work on health care and urban lighting technology.More →

OptiBit, a startup working to find ways to keep power-hungry data centers humming in a more energy-efficient manner, won big at this year’s MIT Clean Energy Prize contest. The far-flung team had a graduate student each from Massachusetts Institute of Technology, University of Colorado, Boulder, and the University of California, Berkeley. Their patented technology has been a decade in the making and took home the $200,000 grand prize.More →