Why fund nanotechnology?

Nanotechnology has the potential to profoundly change our economy and to improve our standard of living, in a manner not unlike the impact made by advances over the past two decades by information technology. While some commercial products are beginning to come to market, many major applications for nanotechnology are still five to ten years out. Private investors look for shorter-term returns on investment, generally in the range of one to three years. Consequently, government support for basic research and development in its early stages needs to maintain a competitive position in the worldwide nanotechnology marketplace in order to realize nanotechnology’s full potential.