Posted on December 30th, 2009 in Uncategorized | No Comments »
I have been a member www.vincentcaprio.org of the Nanotechnology Community for the past 10 years. What a decade it has been for Nanotechnology!
I have witnessed the field of Nanotechnology transition from science into business. It is rapidly becoming the Industrial Revolution of the 21st Century. The importance of nanotechnology cannot be overstated. It will effect almost every aspect of our lives, from the way we do computing, to the medicines we use, the energy supplies we require, the foods we eat, the cars we drive, and the clothes we wear. More importantly, for every area where we can fathom an impact from nanotechnology, there will be others no one has thought of – new capabilities, new products, and new markets.
Nanotech’s greatest economic impact is currently in the U.S., where companies incorporated nanotech into $59 billion in products in 2007; Europe followed at $47 billion; Asia/Pacific accounted for $31 billion; and the rest of the world for $9.4 billion. However, Europe’s steeper CAGR of 48% will bring it to $1.09 trillion by 2015, meeting the U.S.’s $1.08 trillion; and Asia is expected to remain in third place at $717 billion.
While nanoscale research was already underway in a number of federal government, university and corporate laboratories, the field truly caught fire with a speech by President Bill Clinton at California Institute of Technology on January 21, 2000. In the speech, the President spelled out a broad and aggressive vision for nanotechnology research and development that would transform the way we live. Not only did the talk act as a call to arms for the creation of the National Nanotechnology Initiative http://www.nano.gov/, it also sent a message to entrepreneurs and businesses that the marketplace was open and looking for nanotechnology solutions, innovations and products. The 2010 budget http://www.nano.gov/NNI_2010_budget_supplement.pdf provides $1.6 billion for the National Nanotechnology Initiative (NNI) reflecting steady growth in the NNI investment.
Nanotechnology funding reached $18.2 billion in 2008, as government spending ballooned to $8.4 billion, corporate funding edged to $8.6 billion, and venture capitalists provided $1.2 billion. Nanotechnology activity in the energy and environment are especially hot as it accounts for 29% of all nanotechnology government spending; 13% of corporate spending; and 41% of venture capital.
Nanotechnology has begun to undergo a massive shift from the basic research phase to the commercialization phase where dozens of new products hit the market every week. My friends at Lux Research http://www.luxresearchinc.com/, a respected national technology research firm, estimate that total revenues from products incorporating nanotechnology will reach $2.5 trillion by 2015 and that the industry will employ over 200 million workers. This number has been adjusted downward 21% from earlier predictions due to the ongoing economic turmoil. There are over 1,000 manufacturer identified products (and thousands of others not publicized) in the marketplace including: solar cells, clothing, cosmetics, water filters for the developing world, new drug delivery methods that help extend the lives of cancer patients, and many others.
At our 8th Annual NanoBusiness Alliance Conference http://www.nanobusiness2009.com/ last September in Chicago, I observed the beginning of the commercialization of the nanotechnology era. On December 7th in NYC I spoke at the Livingston Nanotechnology Conference http://www.livingstonsecurities.com/. I told the audience that as our decade comes to an end, I am very optimistic about our next 10 years in the Nanotechnology Community.
Our thoughts and prayers especially go out to our Nanotechnology Community and friends who are experiencing particularly difficult and challenging times and we hope 2010 brings a year of health, wellness, peace and prosperity.
Wishing you and your family a happy and safe holiday season.