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COMING AGE OF NANOBUSINESS
Mark ModzelewskiFounder & Executive DirectorNanoBusiness Alliance
May 4, 2002 Sea Island GA.
What is Nanotechnology?
Nanotechnology: The ability to do things – measure, see, predict and make – on the scale of atoms and molecules
Traditionally, the nanotechnology realm is defined as being between 0.1 and 100 nanometers, a nanometer being one thousandth of a micron, which is in return one thousandth of a millimeter
Ultimate Goal: Self-Replication
Nanotechnology: The Next Industrial Revolution
Nanotechnology will effect almost every aspect of our lives – from the medicines we take; to computers we use; to the energy supplies we require; to the food we eat; to the cars we drive; to the buildings we live in; to the clothes we wear
For every area where we can imagine the impact of nanotech, there will be others no one has yet thought of – new capabilities, new products, and new markets
Nanotechnology revenues are expected to reach over $200 billion by 2006
NSF predicts a $1 Trillion global market for nanotechology in little over a decade
Areas of Nanotechnology: Life Sciences and Medicine
Nanotechnology will expand life spans, improve quality of health and enhance human physical capabilities
About half of all pharmaceutical production will be dependent on nanotechnology – affecting over $180 billion in revenues in 10-15 years
Nanotechnology Developments in Life Science and Medicine:
Nanoparticle Tagging Drug Delivery Cellular Manipulation
Areas of Nanotechnology: Materials Science
When particles get small enough their mechanical properties change
Using nanoparticles in composite materials can enhance their strength and/or reduce weight, increase chemical and heat resistance and change the interaction with light and other radiation
Nanostructured materials are expected to be more than a $340 billion market within a decade (Hitachi Research Inst)
Nanotech lighting advances alone are expected to cut worldwide energy consumption by 10% in 10-15 years
Nanotechnology Developments in Materials Science:
Nanocomposites Nanofibers Nanoparticulate
Fillers
Areas of Nanotechnology: Electronics and Information Technology
In electronics the benefits of working smaller cannot be overstated
The semiconductor industry sees Moore’s Law coming to an end due to present materials and systems limitations –nanotechnology appears to provide the answer
Circuit elements will consist of single molecules
Nanoscale structures, such as quantum dots offer the opportunity to recreate the computer– developing the quantum computer
Nanotechnology Developments in Electronics and IT:
Organic nanoelectronics Soft Lithography Enhanced memory and storage Quantum Computing
Some Current Products on Market
Ceramics
Catalysts
UV protectant cosmetics
Specialty paints
Microelectronic components
Automotive components
Optical components
Anti-microbial dressings
“Self-cleaning” window glass
Clay fillers
Optical films for pc screens
Textiles
National Nanotechnology Initiative
Launched in 2000 by President Clinton
POTUS initiative marshalling resources of the agencies
Billions in other non- NNI programs for nanotech
Distributed $65 million in grants to 6 universities last year
Central source to evaluate, research and promote nanotechnology
Proposed 2003 budget: $679 million
Biggest success– told the world that nanotech is “real”
U.S Competitiveness Unlike past waves of technology innovation, nanotechnology is not
dominated by the United States
U.S. Government has developed a comprehensive National Nanotechnology Initiative (NNI) budgeting over $520 million in FY 2002
President Bush has proposed $679 million for the NNI in FY 2003. HHS, NASA, Defense and other agencies have billions in additional funds for nanotechnology efforts as well
The EC has earmarked $1.3 billion Euros for nanotech research over the next 3 years (individual EU nations are also spending ever increasing amounts)
Japan’s government will spend nearly $1 Billion on nanotech in 2003
South Korea, China, Canada, Israel, Switzerland, Australia and others are developing similar initiative to the NNI
Key NanoCenters
Austin/Dallas.Houston, TEXAS• Texas Nanotech Initiative• UT-Dallas• Rice Univ• Zyvez• Richard Smalley• Center for Nanospace Technologies• Start-up Cluster
5Metropolitan New York and New Jersey• Columbia Univ Nanotech Initiative• New York University• Highly educated workforce• Industry-Academic Partnerships• Financial Community• Nanobusiness Alliance
4
Boston, Massachusetts• Harvard University• Mass Institute of Technology• Start-up Cluster
6
Chicago, Illinois• Northwestern Univ• Chicago Nano• Venture Capital• 2 National Labs Michigan
Silicon Valley, California• > 50 Small Tech companies• Technology-focused Infrastructure• Academic Agenda• Talent Pool• Venture Capital• Culture of Innovation
Toronto
Southern California,Los Angeles, Orange County, San Diego• 30 Small tech companies• National Research Facilities• 4 major academic centers• Lower costs of business
2
3
1
Upstate New York
Washington State
North Carolina
OhioNew Mexico
= Small Times Magazine “Hot Spot”
= Small Times Magazine “Places to Watch”
Major US Corporations in Nanotech
Publicly Traded US Nano Companies
Nanotechnology Start-Ups
Zyvex CNI Luna Nanotech
NanoSys NanoGram Ardesta
C-Sixty NanoPhase MEC
Quantum Dot CarboLex Covalent Materials
eSpin ZettaCore NanoProducts
Who’s Investing
Funding Nanoventures
Venture investment for 2002 projected to $1 Billion*
Most nanotech ventures are positioned in non-nano categories – biotech, storage, etc
VC firms are not necessarily the best funding source for most nanotech companies in 2002
Business models and types incompatible Many companies too close to R&D
phase– “Death Valley” issues
VC firms often lack nanotech expertise
Why Nano-Angels?
High risk (R&D stage)
Very hands on relationships needed
Less risk adverse
Less cynicism
Why Nano Corporate Venturing?
Materials science (manufacturing) investments work for them
Tie into corporate backend
Return models and goals often different from most VC firms
Current Trends (+) Nanotech is a burgeoning economic juggernaut
Significant government funding – US and Abroad
Rapid development of academic programs Over 30 nanotechnology programs across US Improved tech transfer operations
500+ nanotech companies at work in the US alone
Venture funding growing at rapidly – a lot of “dry powder”
Impressive corporate R&D budgets $100 million from IBM for Albany Nanotech $100 million investment from GE in new technologies lab Multi-million investments from NIAC, Matsui, Mitsubishi and others
Current Trends (-) Most nanotech companies are at R&D stage (seed)
Seed & start-up stages are often larger than other technology areas -- $4-6 million
Corporate: It’s an R&D issue not CXO issue
No industry standards
Researchers as CEO’s
Outside most VC return models
VC’s have little expertise in nanotech