Government gives nanotech £90m boost

The government will provide £90m over the next six years to help industry harness the commercial potential of nanotechnology.

Most of the funding is to be spent on collaborative research and a network of micro and nanotechnology facilities. Whitehall has also predicted that nanotechnology will secure additional industry and regional spending, anticipated to exceed £200m.

"Nanotechnology promises huge benefits for the environment and our health and wealth," said Science and Innovation minister, Lord Sainsbury.

"Today's investment will help UK companies take advantage of the exciting commercial opportunities offered by scientific advances in nanotechnology."

Some estimates predict a global market for nanotechnology worth over $1tn in a decade.

Some £50m of the government's funding allocation will be earmarked for an applied research programme that will support collaborative research and development projects between industry and the scientific community.

Additionally, £24m will be spend on enhanced facilities that will make up a MicroNanoTechnology Network. The network will aim to drive market development and the exploitation of nanotechnology around the UK by helping industry access research and resources.