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Corporations, governments, universities and others will spend an estimated $8.6 billion on nanotechnology research and development in 2004, and a growing portion of the total comes from the private sector.
Spending on nanotech research will more than double from the estimated $3 billion level level of 2003, according to an annual state of the industry report from Lux Research, a consulting firm that studies the industry.
Currently, about 1,500 companies--1,200 of them start-ups along with corporate stalwarts like GE and Intel--have announced R&D; plans.
"We expect 2004 to be the last year that governments outspend corporations on nanotechnology," said F. Mark Modzelewski, managing director of Lux Research. This year, governments will pour $4.6 billion into nanotechnology research while corporations will sink $3.8 million globally.
 News source: News.com
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