North Carolina Poised for Nanotechnology Boom

18 March 2007

North Carolina, which experienced an economic boom in the past by leveraging its ability to commercialize innovations in biotechnology, is set to accomplish the same results in biotechnology. These are the conclusions of the second annual NC Nanotech Conference in Greensboro recently. Presently, North Carolina is a hot spot for biotechnology, with over 350 bioscience companies in the state. The state is engaging in comparable investments in Nanotechnology, with 48 Nanotechnology companies in the state.

Trends in biotechnology and pharmaceuticals will result in success for companies that combine a broad range of scientific disciplines, such as biotechnology, information systems and Nanotechnology. An example of one successful company is nCoat, Inc. a company that creates surface treatment materials for protection in automotive industries. The materials used contain Nanoparticles that result in greater efficiency and wear and tear for automobile parts.

According to the report, governments can help ease the facilitation from Nanotechnology industrial research into the commercial sector, and can provide investment tax credits to lure emerging companies. Presently equity markets have focused their investments on existing and established Nanotechnology companies, rather than on new businesses spawned by educational research institutions.

Companies that help deliver capital for startups are those like the North Carolina Accelerator, which according to its CEO Dr. Reyad Sawatfa, helps nurture technologies that result in quick commercialization. Another organization, the Piedmont Triad Entrepreneurial Network, provides educational, business plan and capital access resources for Nanotechnology companies.

The reason for North Carolina’s aggressive stance is clear, according to participants in the conference. It will only be a few years before a few states are established as key players in the Nanotechnology revolution. Those who hope to lead the pack need to act now, by positioning themselves to underwrite established as well as emerging Nanotechnology companies.

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