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Wednesday, 28th March 2007 (7676 views)

More research and funding needs to be invested in nanotechnology, a variety of commentators have commentated.

The UK government's science minister Malcolm Wicks has given his backing to more funding being directed towards nanotechnology.

Further investment has also been advised across the Atlantic by Andrew Maynard, of the Woodrow Wilson International Centre.

Mr Maynard welcomed a Council for Science and Technology (CST) review of nanotechnology in 2004, identifying how just $11 million (£5.6 million) had been invested despite some $1 billion (£509 million) being invested each year.

Nanotechnology has been increasingly utilised in recent years, with the process involving manipulating materials on a very small scale.

Gold has been utilised in numerous ways using the technology, being a crucial component in the manufacture of many electrical items and in various medical practices.

According to professor John Beringer, who chaired a CST sub-committee, by 2015, the nanotechnology market could be worth more than $32 billion (£16.3 billion).

 

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