EU is world’s largest public investor in nanotechnology

With €1.4 billion allocated to 550 projects in the field of nanosciences and nanotechnology, the European Union’s 6th Research Framework Programme accounts for one-third of total public funding for nanotechnology and is the world’s largest single funding agency worldwide for this exciting field.

A recent report, focused on the implementation of the 2005 Action Plan for Nanotechnology, shows the strategic importance of nanotechnology, an area of recognised European leadership, and the contribution this field of science can make to the quality of life and economic well-being of Europeans, for example through revolutionary activities in key areas such as materials, electronics and medicine.

“Nanotechnology is an area where Europe is an acknowledged world leader. This is an opportunity we must grasp with both hands,” said European Science and Research Commissioner Janez Potočnik. “The successful development of nanotechnologies will depend on a responsible approach to addressing issues such as safety for humans and animals, the ethics of future developments and society’s debate about these. The European Commission has already shown in this first phase that it is able to steer this course.”

Nanotechnology is a broad term that has applications in many fields of science – biology, electronics, materials, medicine – but broadly encompasses research into the principles and properties arising at the nano-level,that is the level of atoms and molecules. These can differ significantly from the larger scale, which is why this new area of science has emerged. Many nanotechnology-based products are already on the market, including new electronics and chemistry components, intelligent textiles, novel functional surface coatings, new diagnostic and drug delivery systems, breakthroughs in tissue regeneration, and ever faster and more accurate sensors.

The EU’s 6th Research Framework Programme priority targets include fundamental and industrial research, human resources, nanotechnology-specific infrastructures, safety and communication. Although there is strong industrial participation in these projects, resulting in innovation in companies (including SMEs), more and more patents and spin-offs, and a better environment for research and industry (standards, metrology, patenting etc), private investment in the field remains behind that in the US and Japan.

Under FP7, EC funding for nanotechnologies and nanosciences is expected to increase significantly. The average yearly funding is likely to be more than double that in FP6, taking into account actions across the programme. In addition, the Risk-Sharing Financing Facility established by the Commission jointly with the European Investment Bank should provide access to new funding sources.