Nanotechnology and Business Strategy
Thursday, October 7th, 2010
The dramatic potential of nanotechnology can be visualized by imagining the possibility of converting coal into diamonds. Both coal and diamonds are made of carbon atoms, but the atoms are arranged in different ways. Now, if we can work with those atoms and rearrange them, it will be possible to convert coal into diamonds. Nanotechnology works at nanoscale, using equipment that can handle invisible stuff like molecules and atoms. It is only be a matter of time before the technology gets advanced enough to do the kind of transformations mentioned above. However, the coal-into-diamond transformation will pale into practical insignificance compared to all the changes that nanotechnology can generate. Completely new materials with just the properties needed for specific purposes can be created to order, for example. Already, there are self-cleaning glass and bacteria-destroying wound-dressing. And batteries that can last “for ever” are under research.
Businesses have to get themselves oriented to the new scenarios that can emerge as a result of such developments. The impact of nanotechnology will be greater than the impact of information technology, which was more a facilitating technology for mainstream businesses. Nanotechnology will enable creation of completely new products and doing business in a nanotech world will require a different kind of thinking. Nanotechnology has applications in all areas including medicine, food, energy, entertainment, manufacturing practices and consumer products. Businesses have to prepare themselves for the nanotech revolution in the not-too-distant future.
Tags: business, nanotechnology, strategy
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Nanotechnology Industry Development: Several Obstacles
Monday, March 29th, 2010
Nanotechnology involves working at the levels of atoms and molecules. At nanoscale, properties of materials can change from what they are in normal state. Neutral materials can exhibit toxicity at nano scale, for example.
Nanomaterials and the technology can also affect environment, and raise social and ethical issues. Regulatory oversignt is needed to ensure that the technology is handled responsibly. The problem is that regulators typically do not know what to regulate in this new field.
Regulations can often hinder the development of the technology and industry. In a recent example, a “diabetes phone” that used biotechnology developments to help patients to check their blood-sugar levels, and then use information technology developments to seek remote treatment from doctors, could not be successfully marketed in Korea as local medical regulations did not allow remote treatment.
Business funding practices might also not be helpful for development of industry using such innovative and unproven technologies. A study in India found that funding stopped at academic research stage. Bureaucratic procedures involved in releasing government funding discourages entrepreneurs in such new technologies.
Developing countries also face the problem of inadequate venture capital availability to fund enterprises in new technologies. Typically, entrepreneurs have to depend on private funding.
Knowledge transfer from academia to manufacturing industry is also not well-developed in these new technologies.
Read about a study conducted in India on nanotech industry development problems in a dnaindia report.
Tags: industry development, new technology industries, regulatory and infrastructural framework
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