Nanotechnology Innovations & Business Opportunities: A Review

Abstract

Nanotechnology deals with understanding and control of matter at dimensions of roughly one to one hundred nanometers. It involves the creation and use of structures, devices and systems that have novel properties and functions because of their small size, and the ability to control or manipulate matter on an atomic scale. Being anticipated as one of the major breakthrough technology of 21st century, nanotechnology has solutions for all the problems of mankind and fulfills all necessary desires for human prosperity. The applications of nanotechnology in different identified areas provide lots of business opportunities. It includes Food, Medicine, Cleaner water, Better quality air, Electronics, Fuel Cells, Solar Cells, Batteries, Space Travels, Chemical sensors, Sporting goods, Fabrics, Cleaning products, Energy, Environment, Health, and Life span increase. The paper covers the applications, benefits and uses of nanotechnology innovations in different industries, possible business opportunities for new nanotechnology based products and services due to challenges for human prosperity on earth, the impact of nanotechnology on business, and the global strategy on nanotechnology business with an expected time scale and future possibilities of nanotechnology innovations and the magic (like science fictions) going to happen in human life. The discussion also emphasize how nanotechnology is going to be a disruptive innovation by solving all problems in the society like food, energy, drinking water, health and environment and rendering human life limitless.

Keywords: Nanotechnology, business opportunities of nanotech products, Strategy to market nanotech products