Science and Technology Committee on Investment in Nanotechnology in UK

8 February 2007

As per the fifth report of session 2003-04 of House of Commons, science and technology committee has focused on the government investment in stimulating industrial activity and academic research in nanotechnology area. The committee finds that the government plan and investment in the sector are insufficient and higher funding is required to match with the other major International competitions.

The committee also refers the Taylor Report for investing 90 million pounds in the coming six years and suggests establishing a few nanofabrication facilities. The committee feels in the funding a few world class nanotechnology facilities to raise the UK’s nanotechnology profile. The universities and educational institutes needs to develop the educational and research facilities. Committee also feels that research councils should take initiative to funding research into nanoparticle applications especially environmental or health related problems.

The science and technology committee strongly recommends the tax credits to R&D so that the R&D can focus of some of the successful innovations. As there is already a few problems in venture capital as most of the major companies are reluctant to invest huge money in R&D and it is therefore the role of educational institutes and universities becomes large to drive innovations in nanotechnology. The committee therefore feels that the investment as allotted by Taylor Report is insufficient to drive innovations in nanotechnology.

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