Nanotechnology Commercialization and Research in USA : Two Case Studies

Abstract

Undoubtedly, nanotechnology has the potential to impact numerous facets of human life andsociety. Thus, the case for expeditious commercialization of this technology is strong. However,several factors, such as long time between nanotechnology research and development ofcommercial products, large capital investment needed for a viable commercial venture, andfinancial/operational risks associated with commercial applications of nanotechnology, havebeen an obstacle in the way of rapid adoption of this technology in the commercial domain.Substantial government funding and involvement of academic institutions and researchlaboratories are viewed as an effective response to these barriers. In USA, two progressiveinstitutions of higher learning, The Pennsylvania State University and The University at Albanyin New York state, have made very significant contributions in the domain of nanotechnologycommercialization. This has been accomplished through education/training initiatives forworkforce development, and through partnerships with large and small industrial organizationsfor conducting R & D, and commercialization programs. In this manuscript, the two leadingconsortia involving these universities, namely Albany Nanotech/ Tech Valley and Nanofabare described as role models for other educational institutions that are interested in conductingnontechnology R & D and commercialization projects.