Nanotechnology ‘may be worth €13bn’

IRELAND stands to make up to €13 billion by 2010 by becoming a world leader in revolutionary new technology, a leading scientific body said yesterday.

The Irish Council for Science, Technology and Innovation (ICSTI), which is part of enterprise policy agency Forfas, said Ireland was well placed to become a centre for nanotechnology.

Nanotechnology is the set of techniques used to manipulate very small quantities of material to create devices with new or improved qualities. The activity draws on expertise in physics, chemistry and electronics and deals with quantities that measure less than a billionth of a metre, or less than 1% of the diameter of a human hair.

ICSTI chairman Edward Walsh said nanotechnology was a key new technology that would have a significant impact on most sectors of the Irish economy in the future. It would allow Irish business to improve competitiveness, develop new or better products and reduce the cost of products.

“As a small, open, knowledge-based economy, Ireland must ensure that it develops a leading research capability in the field in order to fully exploit this opportunity,” said Dr Walsh.

Dr Walsh added that the investment already put into nanotechnology research left the country well placed to take a leading position.

The ICSTI, which published its policy on nanotechnology yesterday, said there were opportunities for companies of all sizes and that information technology, healthcare, agriculture, plastics and construction all stood to benefit.

The group also called on the Government to set up a national forum on nanotechnology to co-ordinate the approach of government and industry.