The MIT Media Lab is an envelope-pushing arm of MIT. Over the years they have produced a stunning array of work in fields related to Meatball. Then again, they have also produced NicholasNegroponte, the one time director of the Lab, so maybe on the whole their karma balances out.
An member of the Lab that is often cited here and worth reading is JudithDonath, who heads the Sociable Media Group there.
The University of Toronto's KnowledgeMediaDesignInstitute, where our own plucky SunirShah studies, was created partly inspired by the MITMediaLab.
See also the MitAiLab.
See also the somewhat outdated but interesting book, The Media Lab: Inventing the Future at MIT, by Stewart Brand. ISBN 0140097015 (alternate, search).