Nanotechnology Commercialization: Prospects in India

Abstract

Introduction Nanotechnology manipulates and creates matter to formulate nanometer scale materials and objects. It is an interdisciplinary field that involves a wide range of scientific and engineering disciplines, and has societal implications. The past few decades have produced nanotechnology innovations and applications for agriculture, healthcare and medicine, biotechnology, energy and environment, materials science, electronics, information technology, telecommunication and manufacturing. Governments and private investors, including venture capitalists, have made considerable investments in emerging nanotechnologies. Both large organizations and new startup companies are exploring options to commercialize nanotechnology-based products. This review examines the commercialization of nanotechnology by considering the strategies of large corporations and start-up firms, and the major challenges facing the adoption and diffusion of nanotechnology. Its primary focus is the development of nanotechnology research and industry in India, which, as a test case, helps identify the challenges and strategies for nanotechnology commercialization in emerging economies. Much of nanotechnology R&D in India remains conceptual. Fundamental research is not robustly linked to viable commercial production and large-scale manufacturing, but this could be improved by enhancing IP protection, regulations and ethical guidelines. Enhancing nanotechnology R&D, and commerce, will require a policy focus on infrastructure, education, standards and workforce preparation. ISSN: 2348-9812 Nanotechnology uses the principles of science and engineering to design and manufacture products from atoms, molecules and nanoparticles. According to the US National Nanotechnology Institute (NNI), nanotechnology is defined as “Research and technology development at the atomic, molecular and macromolecular levels, in the length scale of approximately 1-100 nanometer range, to provide a fundamental understanding of phenomena and materials at the nanoscale and to create and use structures, devices and systems that have novel properties and functions because of their small and/or intermediate size. Nanotechnology research and development includes manipulation under control of the nanoscale structures and their integration into larger material components, systems and architectures.”[1]. In June 2014 the FDA released guidelines that expanded the existing definition to include materials in the usual nanoscale range (approximately 1 nm to 100 nm), as well as any larger products up to 1000 nm that are engineered to have properties that are caused by their dimensions. By “engineered”, they referred to products that have certain dimensions or exhibit certain properties by virtue of deliberate and purposeful manipulation. According to FDA, “Nanotechnology is an emerging technology that can be used in a broad array of FDA-regulated products, including medical products (e.g. to increase bioavailability of a drug), foods (e.g., to improve food packaging) and cosmetics (e.g. to affect the look and feel of cosmetics). Materials in the nanoscale range (i.e., with at least one dimension in the size range of approximately 1 nanometer (nm) to 100 (nm) can exhibit different chemical or physical properties, or biological effects compared to larger-scale counterparts. For example, dimension-dependent properties or phenomena may be used for functional effects such as increased bioavailability, decreased dosage, or increased potency of a drug product, decreased toxicity of a drug product, better detection of pathogens, more protective food packaging materials, or improved delivery of a functional ingredient or a nutrient in food. These effects may derive from altered chemical, biological, or magnetic properties, altered electrical or optical activity, increased structural integrity, or other unique characteristics of materials in the nanoscale range not normally observed or expected in larger-scale materials with the same chemical composition. Materials or end products may also exhibit similar properties or phenomena attributable to a dimension(s) outside the nanoscale range of approximately 1 nm to 100 nm.” Since Richard Feynman’s well known statement made in 1959, “There is a plenty of room at the bottom,” nanotechnology has transformed how products are fabricated. Like other disruptive technologies, it is catalyzing economic growth [2-4]. Early nanotechnology milestones included the first molecular device in 1974 [5] and the scanning tunnelling microscope in 1981[6], the understanding of the carbon nanotube [7], and the DNA nanomechanical device [8]. Received Date: November 14, 2014 Accepted Date: December 03, 2014 Published Date: December 10, 2014