NANO SCIENCE RESEARCH AND DEVELOPMENT

Nanoscience research and development in universities around the world has intensified significantly over the past few years. It is now possible for students to specialize in nanoscience at the graduate level, with programs in nanotechnology at such leading US schools as Rice, Harvard, MIT and Cornell, and a full PhD in nanotechnology available from the University of Washington. In the UK, Cranfield and Leeds offer an MSc in nanoscience and nanotechnology; in Australia, Flinders and the University of New South Wales offer a BSc. Since the launch of the US's National Nanotechnology Initiative, more than thirty universities have announced plans for nanotech research centers in the US alone. Similar flurries of activity have been taking place among the global academic community.

There is growing interest from venture capital firms in nanotech-related companies; with over 20 nanotech investments in the first half of 2002 in the US and Europe, and more than $100 million invested in the US in the first half of 2002. Some of the world’s largest companies, including IBM, Motorola, Hewlett Packard, Lucent, Hitachi, Mitsubishi, NEC, Corning, Dow Chemical, and 3M have launched significant nanotech initiatives through their own venture capital funds or as a direct result of their own R&D. Some of the biggest spenders on R&D are allocating up to half of their long-term research budgets to nanotech. While initial interest has been greatest among the seed stage funders, many investment banks are now taking an interest, and some institutions are already creating nanotechnology funds.