Irish Minister says Ireland seeking to exploit potential of nanosciences and nanotechnologies
By Finfacts Team
Sep 15, 2005, 13:01
In the forefront of nanotechnology development, NASA´s Jet Propulsion Laboratory in Pasadena, Calif., has acquired one of the world´s finest electron beam lithography systems, one that will allow researchers to work on the sub-molecular scale. For NASA, this means breakthroughs in miniaturization that could lead to significant reductions in mass and cost of spacecraft to look for traces of life on distant planets. For researchers, it means access to one of only three such systems in the world, and the only one in the public sector devoted to pure research for building the nano-scale devices of the future. Photo credit: NASA
Micheál Martin TD, Minister for Enterprise, Trade & Employment said in Dublin today that nanotechnology promises to deliver materials and systems whose structures and components exhibit novel and significantly improved physical, chemical or biological properties due to their small size. Nanotechnology also promises to deliver huge benefits for socio-economic development and its use is accelerating.
Internationally, government spending on nanotechnology is growing and a prediction made in the USA in 2000 that one trillion dollars in products worldwide would be affected by nanotechnology in 2015 has now been brought forward by five years to 2010……..only 4 years away. It is therefore almost self-evident that nanotechnology has a large employment potential for well educated personnel and opportunities for new high tech start-ups.Ireland must position itself strategically on that trajectory, the Minister said.
Ireland is seeking to exploit the potential of nanosciences and nanotechnologies to the optimal level. In making investment decisions in this area in the future it is important that we do so on the basis of an assessment for safe, sustainable, responsible and socially acceptable development of nanotechnologies.
"I know that the work of this group will help in the achievement of this goal," Martin said at the NanoIreland International Symposium.
Internationally, Government spending on Nanotechnology is growing with the US leading the game and now spending more than $1 billion per year. Japan closely follows, spending in excess of $ 800 million in 2003 and in Europe, Germany constitutes more than 60% of all EU investment spending €300 million annually. However, industry reports indicate that more than $2 billion have been invested in nanotechnology by venture capital firms since 1997 in the US. For 2004, Lux Research estimates that more than $8.6 billion are spent on nanotechnology-related RTDI globally, while the European Commission calculates public expenditure to run at about €3.5 billion per year.
Ireland will never be able to invest at this order of magnitude in nanotechnology., Martin said.However, by deciding together what our priorities are, working together to implement our nanotechnology strategy in a coherent way and developing strategic partnerships nationally and internationally between large and small companies and the Higher Education sector, Ireland, despite a late start, will not be left trailing behind in this critically important area.
