Nanotechnology is a big business. More than $8.6 billion was invested by governments, companies and venture capitalists worldwide in 2004 and $60 billion to $70 billion worth of products that incorporate nanotechnology are sold annually in the United States. The National Nanotechnology Initiative (NNI) estimates that more than two million people will be working in nanotechnology within the next 10 years.
The United States is the leader in nanotechnology research, but not by much. Nanotechnology is the largest federally funded science initiative in the country, receiving over $1 billion in federal funds annually, and private companies invest at least another $1 billion. Initially, governments made the largest investments in nanotechnology, but this has changed in recent years, with industry contributing larger and larger amounts.
Japan has been involved in nanotechnology since the very early stages and is very close to the United States in its level of development; the Japanese government invested around $750 million in nanotechnology in 2004. The Europeans have recently recognized the importance of nanotechnology and are starting to put a lot of money into nanotech-nology projects as well. Finally, countries that are beginning to get into nanotechnology include India, China, South Africa, and Brazil.
Was this article helpful?