EU Adopts Nanotechnology R&D Investment Strategy

Online staff -- Electronic News, 5/14/2004

As nanotechnology research is expected to have an impact upon virtually all technological sectors in the coming years, the European Commission adopted a strategy this week aimed at making Europe a world leader in nanotechnology.

With the worldwide market for nanotechnology-based products and processes estimated to be approximately $3 billion (2.5 billion euros) today, eventually growing beyond $1.2 trillion (1 trillion euros), much is at stake.

A strategy document, “Towards a European strategy for nanotechnology,” outlines recommendations and initiatives on how to strengthen Europe’s R&D in nanosciences and help turn nanotechnologies into commercially viable products, the European Commission said.

Suggested actions include boosting R&D investment and infrastructure, improving training for research personnel, enhancing technology transfer in Europe and its financing, taking into account the impact of nanotechnology on society, and increasing international co-operation toward a responsible approach to nanotechnology R&D globally.

The Commission also recognized that without constant and increasing investment in R&D and coordination at the European level, it appears unlikely that the EU can remain internationally competitive. However, Europe is now investing proportionately less than its main competitors: both the U.S. and Japan invest more per capita in nanotechnology and this gap is expected to widen in the next few years if Europe does not take appropriate initiatives, the Commission said.

In order to bridge the gap, the document recommended that overall public EU investment in nanotechnology R&D should triple by 2010 to maintain and strengthen its position in respect to its main competitors.

“Nanotechnology is fast becoming one of the most promising and rapidly expanding fields of R&D. To make the most of European excellence in nanosciences, research must be translated into commercially viable products and processes," said European Research Commissioner Philippe Busquin, in a statement. "In order to provide new impetus towards the knowledge-based objectives in the Lisbon process and turn the EU into the most dynamic powerhouse on the world stage, Europe must increase its collective efforts and investment in this field. It is crucial that we help to create a favorable environment for innovation in the nanotechnology sector, particularly in reference to small and medium sized enterprises. Strong public-private partnerships in this emerging technology are also needed. At the same time, we have to ensure nanotech applications are developed in a responsible and transparent way.”