Numerous industries have seen innovation accelerate since the adoption of nanotechnology in pushing the boundaries of what was previously possible.
From life-saving medical applications to next-generation materials and electronics, breakthroughs in this field promise significant returns on investment. However, with such promise comes fierce competition.
Unsurprisingly, there has become a global race to gain the upper hand nano continues to deliver.
Across the world, there are different strategies being supported and promoted; differing degrees of government support and funding and, of course, cooperation between private and public entities.
Get it right and markets are blossoming.
Perhaps not surprisingly, China has emerged as the major global player in the nanotech world courtesy of its aggressive investment strategies.
It has long seen the potential of nano-scale innovation and sunk many billions of dollars into research and development.
The result is an enviable talent pool – often attracting those from outside its borders with the lure of cutting-edge innovation – and robust international collaborations.
The best example of which is the establishment of one of the world’s largest nanotech industrial zones – dubbed Nanopolis in the eastern city of Suzhou. It has become a breeding ground of talent, innovation and investment with the Chinese government heavily promoting private-public collaboration.
Japan has long invested in nanotech research and boasts strong industry-academia partnerships as well as private research institutes.
Leading corporations like Toyota, Hitachi, and Sony actively participate in nanotech research, driving innovation with a strong focus on practical applications.
South Korea has also ploughed plenty of money into the technology. However, both it and Japan have struggled at times to attract international investment.
However, driven by China, the Asian nanotech market boasts perhaps the most potential in the world.
Backed by continued government investment and rising demand, many investors are looking at the region for a return.
In the US, a robust research ecosystem has ensured the nation has maintained a strong position.
It is helped centrally by the National Nanotechnology Initiative, a US government research and development (R&D) initiative.
It comprises over more than 30 federal departments, independent agencies, and commissions which work together toward the shared vision of a future in which the ability to understand and control matter at the nanoscale leads to “ongoing revolutions in technology and industry that benefit society”.
Since its inception in 2001, it has assisted in the funding of projects to the tune of more than USD40 billion.
Such a multi-pronged approach has fostered basic research, commercialisation, and ethical considerations.
The US private sector also plays a vital role, with tech giants like Intel and IBM heavily invested in nanotech development, while medical applications have seen many billions invested in recent years, with breakthroughs seeing a clear route to market, once regulatory hurdles are satisfied.
In the European Union, the bloc has prioritised collaborative research through initiatives like Horizon Europe – its flagship research programme.
Providing funding for research and innovation, it has an annual budget of in excess of EUR95.5 billion.
It has a key focus on safety and environmental regulations – which fosters a strong research base but does also create hurdles for rapid commercialisation of key breakthroughs.
Again, it is so often the private sector which helps drive the market forward of which there are plenty seeking competitive advantage.
The key focus for all markets tends to be in three distinct channels.
The potential of nanomedicine has created plenty of headlines with its ability to revolutionise drug delivery, diagnostics and regenerative medicine.
There appears to be little slowdown in this sector and with the financial rewards so obvious, it seems certain to be leading the charge.
Then there’s nanomaterials and the ability to unlock novel materials with unique properties capable of opening significant new markets.
This ranges from electronics to clothing to sporting equipment and everything inbetween.
And, perhaps most pressingly, environmental applications such as water purification, pollution remediation and sustainable energy production opportunities.
Get that right and the potential is enormous if it can tackle some of the existential challenges the global community faces.
The global race in nanotechnology presents both challenges and exciting opportunities for investors.
Understanding national strategies, emerging areas of focus, and key considerations will equip investors to navigate this dynamic landscape and capitalise on its potential.
Author:
Chris Britcher
Nano Magazine | The Breakthrough
