Steering Committee to study Nanotech growth in Washington
Commercial potential of the very small may mean big payoff for state’s economy

Nanotechnology, the “science of the small,” may be the next big thing for Washington State and state lawmakers have set in motion the means to study the long-term economic impact of this technology in the state.

The Washington Technology Center (WTC) is leading the strategy around the Nanotechnology Initiative. “Washington technology companies are already seeing the impact nanoscience has on market potential,” says Lee Cheatham, executive director of the Washington Technology Center. “The goal of the nanotechnology initiative is to determine how to best leverage this technology to our state’s competitive advantage. The results of which are a stronger economy, increased capital investment in Washington companies, and more jobs,” Cheatham adds.

Cheatham is one of the members of a Steering Committee, comprised of senior-level professionals from industry, academia and business tasked with moving the Washington Nanotechnology Initiative’s goals forward.

• Realistic strategies for getting the technology into the market;
• Path to commerce through existing companies—key is how it can improve processes;
• Taking the technology out of the lab and into the marketplace.

The Steering Committee met March 11 to begin work on the strategic plan which will outline objectives for examining the scope and magnitude of the nanotechnology market in Washington and recommend a targeted action plan for capitalizing on this opportunity. Results of the study will be announced in June.

Nanotechnology has the potential to affect almost every aspect of our lives at the molecular and atomic scale—as minute as one-billionth of a meter. The benefits of applying nanotechnology are numerous—better healthcare; faster, smaller computers; more efficient energy production and storage; fuel-efficient automobiles and aircraft; more durable materials for clothing, housing, and consumer goods. The global market for nanotechnology is predicted to reach $1 trillion in the next ten years.

U.S. Sen. Maria Cantwell (D-WA), a long-time proponent of economic growth through the commercialization of scientific research, led the effort to create the Washington Nanotechnology Initiative, which advocates positioning Washington at the forefront of nanotech commerce. “Washington has all the resources needed—intellectual property, world-class research institutions and strong entrepreneurial spirit—to become a national leader in nanotechnology,” says Sen. Cantwell.