The One Laptop Per Child project which is giving much cheap happiness to deprived children and – more importantly – gave us rich lot the awesome Eee PC for Christmas, has a newer, cheaper rival on the horizon.

Start-up Pixel Qi has set out to trump the OLPC’s “$100 laptop” scheme by aiming to build screen components for a laptop that, once done, will cost $75 per unit to manufacture.

Behind PixelQi is Mary Lou Jepsen, who was chief technology officer of the One Laptop Per Child project. Her company’s web site