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113-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Benchmarking U.S. States for Economic Development from
NanotechnologyF. Mark Modzelewski
Managing Director, Lux Research Inc.Wednesday, January 26, 2005
213-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Lux Research is the world's premier research and advisory firm focusing on the business and economic impact of nanotechnology and related emerging technologies
Our key staff and board members have:• Introduced nanotech to Wall
Street as an investment theme
• Been instrumental in U.S.nanotech public policy
• Attracted ~ 100 corporations,startups, investors, universities,and public sector bodies as clients
Mark Modzelewski,
Managing Director, Lux
Research; Founder,
NanoBusinessAlliance
Josh Wolfe, Director, Lux Research
President George W. Bush
21st Century Nanotechnology R&D Act Signing, 12/03
313-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
We provide clients with advice and data to help them:
• Develop strategies to profit from nanotechnology commercialization• Allocate staff and investment resources • Forecast nanotechnology trends and shifting industry dynamics• Identify and evaluate partners and suppliers• Operate effectively within a changing regulatory environment• Understand the impact of emerging nanotechnology innovations • Structure equitable deal terms• Create recognizable brands and establish market positioning• Identify investment opportunities• Identify potential threats to existing portfolios• Understand market catalysts and how they impact investments
413-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Lux Research sits at the nexus of the nanotechnology field. Our clients gain access to an extended network of the world’s most influential nanotechnology companies, investors, and visionaries
Investors
Nanotechnologystartups
Academicinstitutions
Establishedcorporations
Nanotechnologyassociations
Governmentand public sector
513-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Lux Research assist corporations, financial institutions, and public sector entities with all aspects of their nanotechnology initiatives in three principal ways
• Strategic advisory services– Ongoing relationship between Lux Research and client executives– Continuous stream of proprietary reports driven by exclusive research– Unlimited access to expert analysts for inquiries
• Consulting– Assistance with specific projects that require highly customized research– Focus on senior-level issues with “make-or-break” strategic implications– Extended advisor network provides unequalled breadth and depth
• Reference studies– Annual, book-length studies that define the state of development– Person-years of primary interviews, secondary research, and analysis– The Nanotech Report 2004 is the third edition of Lux’s premier reference
study – a must-own volume for any participant in the field
613-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Not “nano by accident”:•Ancient Egyptian pottery•Stained glass•Cat litter
Not MEMS; novelproperties emerge from the nanoscale
What’s nanotechnology again?
“The purposeful engineering of matter at scales of less than 100 nanometers (nm) to
achieve size-dependent properties and functions.”
713-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
What’s special about “less than 100 nanometers?”Quantum properties of matter overtake bulk properties
Carbon nanotube crossbar memory(LSI Logic, BAE Systems licensing from Nantero)Van der Waals forces hold nanotube crossbars together
Semiconductor nanocrystal biolabels(Ventana licensing from Quantum Dot Corp)Diameter of particle determines color of light emitted
Gold nanoshell cancer treatment(Nanospectra Biosciences)Size and curvature of shell determines light absorption
Artificial setae(U.S. Army contracting with Nanosys to develop)Weak atomic interactions allow soldiers to climb walls
813-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Hybrid Molecular Transistor
Face Averaging of Epithelial
Thermally Grown Yittrium Oxide
Nanoclusters of Gold on BaTiO3
Nanolithographic PoetryHesse’s Glass Bead Game
Sectors: Tools and instrumentation
913-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Source: Quantum Dot Corp.Source: www.phys.ncl.ac.uk Source: Accelrys; Piezoelectric crystal
Sectors: Materials
1013-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Nanomaterials enable premium prices and high marginsTraditional
productNano-enabled
productNanoscaleinnovation
Pricepremium
Wilson U.S. Open tennis balls, can of 3
$2.59*
Wilson Double Core tennis balls, can of 3
$3.49*
Clay nanocompositebarrier coating (InMat)
35%
Dockers Individual Fit Waistband Khaki
$48.00**
Dockers Go Khaki with Stain Defender
$55.00**
Superhydro-phobic nanoscalecoating applied to fabric(Nano-Tex)
15%
Coloplast/SweenContreet foam antimicrobial garrier dressing with silver, 5x5”, 5 count
$48.00***
Smith & Nephew Acticoat 7 antimicrobial dressing, 4x5”, 5 count
$55.00***
Silver nanoparticlesinstead of micron-scale silver film (NuCryst)
32%
Prices drawn from: * Exsell Sports; ** Amazon.com; *** Allegro Medical; all as of January 8, 2005
1113-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
• Millipede: Shift from GMR to thermomechanical
• Technology works; commercialization not yet determined
• 32x32 array with data density increase without compromise in data transfer rate
Source: IBM Source: HP; S.Williams; P.Keukes
Source: IBM
Sectors: Devices – storage and computing examples
1213-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
• Biomimicry for tissue engineering(NanoMateria, AngstroMedica, Inframat)
• ADME/tox- SKYE nanoparticle surface area enhancement- FLML polymer encapuslation
• Diagnostics-Tremendous activity!(Barcoding, qdots, gold nanoparticles, flourescence)
Sectors: Life sciences
1313-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Media coverage of nanotechnology – both positive and negative – is increasingly exponentially
1,8172,608
5,039
7,316
12,000
232 352 3620
2,000
4,000
6,000
8,000
10,000
12,000
14,000
1996 1997 1998 1999 2000 2001 2002 2003 2004(est.)
Mentions of “nanotechnology” in the popular press
Source: 2004 Lux Research Reference Study “The Nanotech Report 2004;”Factiva search on “nanotechnology” and derivative terms for all publications in database
1413-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Scientific articles and patents on the rise
1513-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Governments, corporations and venture capitalists will spent more than $8.6 billion worldwide on nanotechnology research and development in 2004
CorporationsGovernments
U.S.EUJapanIsraelSouth KoreaGermanyUK
Venture capital
New YorkCaliforniaTexasMassachusetts
1613-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Established corporations will spend more than $3.8 billion globally on nanotechnology R&D in 2004
Corporate nanotechnology spending, 2004 ($ billions)
$0.04$0.65
$1.4
$1.7
North America Asia Europe Rest of world
Source: Lux Research reference study “The
Nanotech Report 2004;” basd on
published spending figures, national
statistics, Lux Research analysis
1713-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
109 nanotech start-ups have secured venture capital funding since 1998, representing 119 deals and $1.1 billion in financing
Distribution of venture capital investment in nanotechnology,1998 to 2004 (cumulative)
5%14%
40%
41%
Electronics & semiconductors NanobiotechnologySpecialty chemicals and nanomaterials Capital equipment and instrumentation
Source: Lux Research reference study “The
Nanotech Report 2004;” includes
publicly announced funding transactions and Lux Research
knowledge of confidential
transactions
1813-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Nanotechnology across the world
1913-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
National and local governments across the world invested more than $4.6 billion in nanotechnology R&D in 2004
Government nanotechnology spending, 2004 ($ billions)
$0.13
$1.3
$1.6
$1.6
North America Asia Europe Rest of world
Source: Lux Research reference study “The
Nanotech Report 2004;” based on
published spending allocations, Lux
Research analysis
2013-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Technology development strength• R&D inputs• Technology and science
workforce• Technology concentration• Human capital investment• Risk capital and infrastructure• Fast 50 companies• Economic freedom ranking
Nanotechnology activity• State nanotech spending• State nanotech initiatives• Public companies active• Private companies active• Start-up investment rounds• Federal/university nanotech
centers• Nanotech patents• Nanotech patent applications• Nanotech SBIRs
Framework for ranking states for economic development competitiveness in nanotechnology
2113-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Framework for ranking states for economic development competitiveness in nanotechnology
Technology development strength HighLow
Nanotechactivity
High
Low
Massachusetts
California
Colorado
Virginia
New Mexico
New JerseyConnecticut
Maryland
Illinois
New York
WashingtonNew Hampshire
PennsylvaniaTexas
Minnesota
Arizona
Oregon
Vermont
Georgia
Michigan
Delaware
Rhode Island
Utah
IndianaOklahoma
North CarolinaIdaho
Nevada
Ohio
Kansas
Montana
Wisconsin
IowaTennessee
Florida
Nebraska
Maine
Kentucky,WyomingLouisiana
MissouriAlabama
South Carolina
North DakotaWest
VirginiaSouth Dakota
Alaska, Hawaii
Arkansas
Mississippi
Nano-Leaders
No-Shows Nano-Laggards
Nano-Aspirants
2213-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Leading states span the U.S.
Nano-Leader
Nano-Aspirant
Nano-Laggard No-Show
Linear rank#
37
12
18
10 1
227
613
421
7
45
29
38
24
19
9
32
15
33
41
47
34
47 42 19
42
26
35
3814
25
46
36
4430
38
2
516
22
27
28
11
17
3
47
47
30
2313-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Householdappliances
Manufacturingand materials
Catalysts
Coatings
Compositematerials
Fabrics
Fuelcells
Lubricants
Metal
AircraftAutomobiles
ClothingFood
Lumber
PaperSportinggoods
Electronicsand IT
Embeddeddisplays
Logic chipsMemory chips
Opticalcomponents
Sensors
Solarcells
Storagemedia
Computers
Consumerelectronics
Harddrives
Healthcare andlife sciences
Biologicallabels
Contrastmedia
Orthopedicmaterials Dental
equipment
Medicalinstruments
Pharmaceuticals
Lux Research expectations on nanotechnology deployment by sector
> 1% of products in segment incorporate emerging nanotechnology
> 10% of products in segment incorporate emerging nanotechnology
Intermediate products
Final goods
>10 years
2004
2009
2014
Source: October 2004 Lux Research Report “Sizing Nanotechnology’s Value Chain”
2413-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Global forecast, products sold incorporating emerging nanotechnology, 2004 to 2014, by value chain stage
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$ m
illio
ns
Nanomaterials Nanointermediates Nano-enabled products
2004:Selective
deploymentsproliferate
2005 to 2009:Commercial breakthroughs
open markets
2010 to 2014:Nanotechnology becomes
commonplace
Source: October 2004 Lux Research Report “Sizing Nanotechnology’s Value Chain”
2513-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
Global forecast, products sold incorporating emerging nanotechnology, 2004 to 2014, by sector*
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$ m
illio
ns
Manufacturing and materials Electronics and IT Healthcare and life sciences
Source: October 2004 Lux Research Report “Sizing Nanotechnology’s Value Chain”* Nanointermediates and nano-enabled products only; nanomaterials cannot be meaningfully broken down by sector.
16%
50%
4%
2014 value as % of gross manufacturing output in sector
2613-May-05CONFIDENTIALLux Research Inc. • 645 Madison Avenue, 22nd Floor New York, NY 10022 • 888-589-7373 www.luxresearchinc.com
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