Russia's parliament recently pledged $7 billion for a state-owned nanotechnology corporation, a move that has the backing of Russian President Vladimir Putin. Another strong supporter of Russia's funding measure? Scott Rickert, CEO of Nanofilm Inc., a Valley View, Ohio-based developer of surface care products based on nanotechnology.
"I wish (the Russians) the best," Rickert says. "There's always got to be a number two, and the competition is good for business."
It's a testament to the state of the nation that such a free-market sentiment sounds so out of place in today's climate of cutthroat global competition and pushes for protectionist policy. However, innovators like Rickert and the community he represents truly believe that the U.S. stands at the top of the "small world" of nanotech, and has the potential to maintain a large stake in an emerging technology that analyst firm Lux Research places at topping $2.6 trillion in new products and services by 2015.
A "Natural Advantage"
As Rickert sees it, the added vigilance that U.S. regulatory agencies require hasn't stifled innovation; instead, it makes for an environment of global trust that contrasts U.S. companies with the competition. "We have the best quality and purity control of any country in the world," he says. "We see that as a big commercial advantage."
The Next Frontier Of Innovation
The United States has more nanotech companies across more sectors than any other country and leads the world in nanotech patents and highly cited publications, according to Sean Murdock, executive director of the Nanobusiness Alliance.
Maintaining this lead is absolutely crucial, Murdock says, for three main reasons:
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