DTI puts nano-cash up for grabs

The Department of Trade and Industry (DTI) has earmarked £50m of funding to help British businesses research and develop applications that exploit the commercial potential of nanotechnology.

The government department estimates the market for the technology will be worth $1tn in 10 years.

UK companies have until 26 March to submit outline proposals for the UK Micro and Nanotechnology Network.

These must be collaborative and include the participation of at least two firms to be eligible for a slice of the three-year Applied Research Programme funding, the DTI said.

"Estimates predict a global market in nanotechnology worth over $1tn in a decade, and it is vital the UK gains a significant share of this," said Lord Sainsbury, minister for science and innovation, in a statement.

Nanotechnology research has already produced products such as stain-resistant trousers, improved photographic and printing materials and bacteria-resistant bandages.

The DTI is to hold a series of roadshows for potential applicants. Tour dates include:

• 9 February - Edinburgh, Hilton Edinburgh
• 12 February - Manchester, Hilton Manchester
• 16 February - Bristol, Holiday Inn (Bristol Filton)
• 20 February - London, Ernst & Young LLP, SE1

Businesses interested in applying for a grant from the Applied Research Programme should visit www.mnt.org.uk for all relevant forms and guidance.