Parallel Tracking and Mapping is a software developed by Univ ox Oxford for 3D graphics & reality fuse on the fly -- See the video on the page below:
What is interesting is that this software will probably be running on a 26-core phone which is being designed and manufactured by China. (http://www.clonedinchina.com/2010/04/qderopateo-ouidoo-phone-with-window-phone-7-alike-ui-and-palm-pre-alike-design.html)
Also interesting is that they licensed the software from Oxford. I doubt if they did it on-purpose to attract attention from the media. Anyway, if you are a big-name university, you can sell your technology easily.
Why can't we do make something happen in NTU besides writing research papers? Yes, we can. I believe we can do something. The university needs to adjust and it is slow in doing that. Some individuals are much quicker than the university. Time will tell who are the winners.