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  PICMET @ Newsletter
      Vol.1 Number 1 , Winter 2004       Latest Industry News
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Nanotechnology : It is small, but will create next big industry

By Halime Inceler Sarihan

The U.S. government showed dedication to growth of the new nanotech industry. Nanotechnology is the ability to work at the atomic and molecular levels, corresponding to lengths of approximately 1 -- 100 nanometers, or 1/100,000th the diameter of a human hair. Nanotechnology is not merely the study of small things; it is the research and development of materials, devices, and systems that exhibit physical, chemical, and biological properties that are different from those found at larger scales. The National Science Foundation has estimated that nanotechnology applications may be worth more than $1 trillion in the global economy in little more than a decade. President Bush signed legislation in December 3, 2003 to fund nanotechnology research and development for four years starting next Oct. 1. The 21st Century Nanotechnology Research and Development Act puts on the books programs and activities already supported by the National Nanotechnology Initiative. The bill will provide $3.67 billion over the next four years for programs accelerating research and development of new nano-scale technologies in the United States. The nanotechnology bill was sponsored by Senator Ron Wyden (D-Ore.) who is an ardent supporter of nanotechnology development. "This act promotes the new science of nanotechnology and is one of the best ways Congress can boost job creation and guarantee that the United States will not miss, but will mine the opportunities in nanotechnology," commented Senator Wyden when the senate billed passed by unanimous consent in November. According to White House news release;

This legislation puts into law programs and activities supported by the National Nanotechnology Initiative (NNI), one of the President's highest multi-agency R&D priorities.
Nanotechnology offers the promise of breakthroughs that will revolutionize the way we detect and treat disease, monitor and protect the environment, produce and store energy, and build complex structures as small as an electronic circuit or as large as an airplane.

Even before the law takes effect, the president had requested $849 million for nanotechnology R&D across 10 federal agencies this fiscal year, a 10% increase from last year's levels.

Nanotechnology is expected to have a broad and fundamental impact on many sectors of the economy, leading to new products, new businesses, new jobs, and even new industries.

(Source: White House News Release, December,2003)

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