Celsia has a line of cooling products that use steam as a heat conductor. They use NanoSpreaders part of which contain a small amount of water, and when they get heated up, the water turns to steam. The steam then transfers the heat to some kind of heat sink to dissipate it. As odd as it sounds, steam is one of the best heat conductors there is. They say their technology is a bit more expensive than heat pipes, but the increased efficiency should leave it cost neutral.
With heat the number one problem in computing today, any advance in cooling technology is bound to garner yourself some attention and maybe some VC bucks. It may just be time to break out those college physics books and see what you can do.