lookup array of values using wildcards

Is there a formula that can be used to lookup an array of values with a "like" match instead of an exact match?

For example, in one workbook I have my list of values:
Resitor
Capacitor
Relays
Sensors
etc...

In another workbook I have my data with detailed descriptions of the parts. Let's say in Cell "A1" I have:
"1uf Capacitor, surface mount".
Does a formula exist which I can throw in to Cell "B1" that would return:
Capacitor

Any help or suggestions are appreciated.

Thanks! It worked like a charm. For my own understanding can you clarify the first part of your formula? I'm not sure why you have the lookup value as "2" and why there is a "1/" before search.