Tag Archives: Economic Impact Analysis: 20 Years of Nanotechnology Investments (US NNI report)

Celebrating the 20th Anniversary of the Authorization of the US 21st Century Nanotechnology Research and Development Act

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The US National Nanotechnology Initiative (NNI) was signed into existence by then US President Bill Clinton in 2000 (one of his last official acts while still in office) but it was then US President George W. Bush who signed the 21st Century Nanotechnology Research and Development Act in 2003. My understanding is the act gave the NNI a more permanent status.

In any event it’s the 20th anniversary of the 2003 signing of the act as noted in a December 6, 2023 posting by : Lynn L. Bergeson and Carla N. Hutton on the National Law Review blog, Note: A link has been removed,

The White House Office of Science and Technology Policy (OSTP) and the National Nanotechnology Coordination Office (NNCO) announced on December 4, 2023, a series of events to drive U.S. leadership in nanotechnology, in celebration of the 20-year anniversary of the 21st Century Nanotechnology Research and Development Act. The announcement notes that for the past two decades, the National Nanotechnology Initiative (NNI) “has worked with more than 20 departments and agencies to advance a vision to understand and control matter at the nanoscale, for the benefit of society.” …

A December 4, 2023 White House Office of Science and Technology Policy (OSTP) news release announced the 20th anniversary and celebrations, Note: Links have been removed,

In celebration of the 20-year anniversary of the 21st Century Nanotechnology Research and Development Act, the White House Office of Science and Technology Policy (OSTP) and the National Nanotechnology Coordination Office (NNCO) are announcing a series of events to drive U.S. leadership in nanotechnology.

For the past two decades, the National Nanotechnology Initiative (NNI) has worked with more than 20 departments and agencies to advance a vision to understand and control matter at the nanoscale, for the benefit of society. Coordination across the government has allowed Americans to safely enjoy the benefits of nanotechnology, which has led to revolutions in technology and industry, including faster microchips, powerful mRNA vaccines, and clean energy technologies. Meanwhile, carbon nanotubes have improved the power and lifecycle of batteries; quantum dots make flat screen TVs more vibrant; and nanoparticles allow for faster medical diagnostics.

“Over the years, the NNI has dynamically and responsibly responded to the needs of the country,” said Dr. Branden Brough, Director of NNCO, which coordinates the NNI. “The initiative is a model for collaborative and thoughtful technology development, while supporting the rapid development of other emerging fields by creating the infrastructure and workforce development programs that bolster these growing industries.”

The NNI community will host a symposium on March 5, 2024 [emphasis mine] at the National Academies of Sciences, Engineering, and Medicine in Washington, D.C., to recognize the impact of research and development at the nanoscale and plan the NNI’s promising future. The event is open to the public. …

This week, as we celebrate the Act’s signing, the NNCO will release a series of reports and stories that illustrate the impact of the NNI. This includes readouts from the Nano4EARTH roundtable discussions [emphasis mine] about applying nanotechnology solutions to address climate change, such as surface technologies, new batteries and energy storage solutions, and greenhouse gas capture approaches. Also, the NNCO will highlight a new independent study [emphasis mine] about how the U.S. nanotechnology community contributes tens of billions of dollars—and potentially hundreds of billions of dollars—to the economy each year. And, to highlight the importance of this growing field, NNCO will feature the stories of early-career scientists who represent the promising future of nanotechnology.

Additional events will be held during the coming months, including science cafes across the country, activities at local museums, and podcasts and articles in the media. For more information about these activities, visit the NNI website.

The report/study

The independent study (Economic Impact Analysis: 20 Years of Nanotechnology Investments, 2002 – 2022) mentioned in the OSTP news release was launched on December 5, 2023 and highlighted here in a January 2, 2024 posting.

The symposium

Here’s a poster of the March 5, 2024 symposium celebrating the 20th anniversary of the act,

There’s a registration page where you can register for the in-person symposium and find more information about the speakers. I thought introduction and agenda from the registration page might be of interest, Note: A link has been removed,

Scientists and engineers across many fields and disciplines are united by their work at the nanoscale. Their diverse efforts have helped produce everything from faster microchips to powerful mRNA vaccines. The transformative impact of this work has been spurred by the coordination and focus on U.S. nanotechnology established by the 21st Century Nanotechnology Research and Development Act in 2003. Celebrating such a broad impact and envisioning the future can be quite challenging, but this event will bring together voices from across the emerging technology landscape. There will be experts who can speak on the importance of nanotechnology in quantum engineering, optics, EHS, plastics, DEIA, microelectronics, medicine, education, manufacturing, and more. We can’t predict what will emerge from this lively discussion between researchers, policymakers, members of industry, educators, and the public, but the conversation can only benefit from including more diverse perspectives – especially yours.

AGENDA

8:30-9:00   Coffee and refreshments

9:00-9:05   Welcome and Introduction

9:05-9:30   Policy Perspectives #1

9:30-10:15  Morning Keynote

10:15-10:45  Coffee Break

10:45-11:30  Panel: Responsible Development

11:30-12:15  Panel: Fundamental Research

12:15-1:15  Lunch, Poster Session, and Networking

1:15-1:45  Policy Perspectives #2

1:45-2:30  Keynote Panel: The Future of Nanotechnology

2:30-3:15  Panel: Workforce Development

3:15-3:45  Break

3:45-4:30  Panel: Infrastructure

4:30-5:15  Panel: Commercialization

5:15-6:00  Closing Keynote

6:00-7:00  Reception Sponsored by the Kavli Foundation

No details about exactly what is being discussed but it certainly seems like it will be a busy day.

Nano4EARTH

I found the OSTP news release a little confusing with regard to the “readouts from the Nano4EARTH roundtable discussions” but here’s how the Nano4EARTH (Climate Change National Nanotechnology Challenge) webpage describes its upcoming workshop and roundtables,

Nano4EARTH Kick-off Workshop

Click here for information about the Nano4EARTH Kick-off hybrid workshop, to be held in Washington, DC and online on Jan. 24–25, 2023.

Nano4EARTH Roundtable Discussions

The Nano4EARTH roundtable discussions aim to identify fundamental knowledge gaps, needs, and opportunities to advance current energy efficiency, sustainable development, and climate change goals. By convening stakeholders from different sectors, backgrounds, and expertise, the goals of these roundtables are to identify applicable lessons across the spectrum of technologies, discuss system-specific needs, scalability and commercialization challenges, and potential paths forward.

The topics of the roundtables were identified at the Nano4EARTH Kick-off Workshop as particularly promising areas that could have an impact in a short time frame (four years or less). 

Roundtables:

Coatings, Lubricants, Membranes, and Other Interface Technologies

Roundtable Information, Discussion Summary

Batteries and Energy Storage

Roundtable Information, Discussion Summary

Capture, Storage, and Use of Greenhouse Gases

Roundtable Information, Discussion Summary

Nano4EARTH Roundtable Discussion on Catalysts (January 24, 2024)

Roundtable Information

Other celebrations around the country

There’s this December 11, 2023 notice from the “Celebrating nanotechnology around the country” webpage on the NNI website,

In celebration of the 20-year anniversary of the signing of the 21st Century Nanotechnology Research and Development Act, which codified the National Nanotechnology Initiative, the National Nanotechnology Coordination Office is showing its appreciation for the many organizations across the country that have put together engagement events with the general public to raise awareness about nanotechnology.

Such events (compiled by the National Informal STEM Education (NISE) Network) include:

Nanotechnology Day Activities in Arizona

Family Science Nights in Greensboro, NC

Celebrating 45 Years of Nanoscale Research at the Cornell Nanoscale Science and Technology Facility

Twenty Years of Nanotechnology! Opportunity to engage your community with NanoDays activities

The end

Chad Mirkin at Northwestern University (Chicago, Illinois, US) who’s a pretty big deal in the nanomedicine field wrote an October 29, 2021 introductory essay for Scientific American,

A Big Bet on Nanotechnology Has Paid Off

The National Nanotechnology Initiative promised a lot. It has delivered more

We’re now more than two decades out from the initial announcement of the National Nanotechnology Initiative (NNI), a federal program from President Bill Clinton founded in 2000 to support nanotechnology research and development in universities, government agencies and industry laboratories across the United States. It was a significant financial bet on a field that was better known among the general public for science fiction than scientific achievement. Today it’s clear that the NNI did more than influence the direction of research in the U.S. It catalyzed a worldwide effort and spurred an explosion of creativity in the scientific community. And we’re reaping the rewards not just in medicine, but also clean energy, environmental remediation and beyond.

Before the NNI, there were people who thought nanotechnology was a gimmick. I began my research career in chemistry, but it seemed to me that nanotechnology was a once-in-a-lifetime opportunity: the opening of a new field that crossed scientific disciplines. In the wake of the NNI, my university, Northwestern University, made the strategic decision to establish the International Institute for Nanotechnology, which now represents more than $1 billion in pure nanotechnology research, educational programs and supporting infrastructure. Other universities across the U.S. made similar investments, creating new institutes and interdisciplinary partnerships.

…

He’s a little euphoric but his perspective and the information he offers is worth knowing about.

Economic impacts (2002 – 2022) and the US National Nanotechnology Initiative (NNI)

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Lynn L. Bergeron’s and Carla Hutton’s December 27, 2023 posting on The National Law Review announced a new report from the US National Nanotechnology Initiative (NNI), Note: A link has been removed,

On December 5, 2023, the National Nanotechnology Initiative (NNI) released a report analyzing the economic impact of federal investment in nanotechnology from 2002 to 2022 [emphasis mine]. The report states that NNI selected this timeframe because it was codified by the 21st Century Nanotechnology Research and Development Act in 2003, and thus the range covers its entire existence. The report examines the impact of public investment, growth and trends of the market, and the evolving understanding and application of nanotechnology in the United States. It also provides key data for evaluating NNI’s ability to fulfill its mission and illustrates NNI’s successes to date.

NNI notes that in 2022, the U.S. Census Bureau released data from its 2017 Economic Census, and data in the classification code of Nanotechnology Research and Development (R&D) revealed that more than 3,700 companies, employing more than 171,000 people, reported $42 billion in annual revenue and $20 billion in employee salaries. According to NNI, these numbers “suffered from a limited scope, as the Bureau only included companies that self-identified as primarily being in the business of nanotechnology R&D.” To understand better the complete picture, NNI commissioned the Parnin Group to conduct a more complete economic impact analysis. [all emphases mine]

…

You can find the more conservative claim of a $42 billion impact on the US economy in this November 28, 2022 NNI post by Mike Kiley. This year’s December 5, 2023 NNI post by Mike Kiley updates the numbers based on a new report,

An independent study focusing on the aggregated revenues of a select list of nanotechnology companies has estimated that the 2022 economic impact of nanotechnology on the U.S. economy was between $67 billion and $83 billion and close to a trillion dollars over the past two decades . This dwarfs the U.S. Government’s investment of around $40 billion over that same timeframe, which corresponds to the nation’s prioritization of the field through the National Nanotechnology Initiative (NNI).

The NNI investment has been used to explore the potential of nanoscale science, to capture societal benefits of nanotechnology, and to establish and sustain U.S. leadership in this critical field, both scientifically and economically. While it is difficult to fully capture the economic impact of the NNI’s sustained focus, these numbers hint at the tremendous multiplier effect that nanotechnology investments have had on the economy and the Nation.

As impressive as these numbers are, they only represent a relatively small number of companies that are clearly classified as nanotechnology. This limited approach ignores the field’s critical supporting role in several large commercial sectors. Therefore, the study also explored the impact of one closely related industry – microelectronics and semiconductors – to provide anecdotal evidence of the full magnitude of nanotechnology on the nation’s economy.

Examining the impact of the addition of the microelectronics and semiconductor industry to the study resulted in an estimate of $268 – 297 billion in 2022 alone. While significantly higher than the initial analysis, the authors recognized that this estimate still does not capture the full scope of the nano-economy, since microelectronics and semiconductors are only one of many commercial areas that substantially benefited from the nation’s leadership in the field.

Zooming in on the Not-So-Nano Numbers

In late 2022, the U.S. Census Bureau released data from its 2017 Economic Census. In the classification code of Nanotechnology Research and Development (R&D), the data revealed that over 3,700 companies, employing more than 171,000 people, reported $42 billion in annual revenue and $20 billion in employee salaries. As noted in a previous NNCO blog post , released on Nov. 28, 2022, these numbers also suffered from a limited scope, as the Bureau only included companies that self-identified as primarily being in the business of nanotechnology R&D. This limited scope led to a desire to better understand the full picture.

In early 2023, the NNI commissioned the Parnin Group (Alexandria, VA) to conduct a more complete economic impact analysis of nanotechnology to the U.S. economy . To conduct this analysis, the report identified a variety of nanotechnology products, including nanomaterials, intermediate nanotechnology products, and finished products in the marketplace. These products were organized into four categories: (1) core nano (e.g., carbon nanotubes), (2) nano tools (e.g., nanoscale etching tools), (3) integrated nano (e.g., mRNA vaccines), and (4) nano-enabled (e.g., pharmaceuticals). Once products and their parent companies were identified, Parnin examined Bureau of Labor Statistics data, value-chain analysis, product categories, public companies’ Securities and Exchange Commission filings, and patent filings to establish the collective economic value produced by these companies.

Clearly, capturing the economic impact of nanotechnology is not trivial. Products used every day are enabled by nanotechnology, but “nanotechnology” is not seen in the packaging of some of the most ubiquitous items in our lives, like a smartphone, e-reader, or television. Companies and products seldom draw attention to nanomaterials used to make them, for various reasons, including protecting proprietary formulations and practices. As a result, many large companies and related commercial areas – including microelectronics and semiconductors, healthcare, pharmaceutical production, oil and gas refining, and cosmetic products – that have operations and products in the nanotechnology space, but not exclusively so, were excluded from this economic analysis, leading to conservative estimates of the economic impact of nanotechnology.

The report explored the omission of these major areas through an analysis of nanotechnology’s contribution in one of these sectors: microelectronics and semiconductors. While it represents one of the clearest examples of how nanotechnology is used to drive the U.S. economy, the microelectronics industry was mostly excluded in the initial analysis since, historically, it has been unclear what percentage of companies’ portfolios were related to nanotechnology. However, by 2022 every competitive product in the sector features nanoscale dimensions created through nanotechnology tools, creating confidence that this area can defensibly be included in an analysis of the nano-economy.

As indicated earlier, when the microelectronics and semiconductor segments were included, the estimated impact jumped to between $268 billion and $297 billion annually. While other sectors are not as clearly connected to the field of nanotechnology, they are a part of the story and this exploration provides a glimpse into how sizeable the field’s impact might be.

Caveats and nuances abound, because seeing the impact of nanotechnology to the U.S. economy would be like seeing a 10-nanometer object in the palm of your hand; it is there, but you need special tools to see it! And regardless of the exact number, the message is clear: The United States’ leadership in the field has certainly paid off.

Report: Assessing the Economic Impact of Nanotechnology in the United States

The report (title page: Economic Impact Analysis: 20 Years of Nanotechnology Investments) covering 2002-2022 is relatively short, 56 pp. in the print version or 57 pp. in the PDF.

Eye-opening to me, was that the NNI never included semi-conductors and micro-elecronics in its previous economic analyses. Pretty significant omission.

I have no background in economics and so, much of the report flew over my head. However, I am a long time (and experienced skeptic) and can’t help suspecting that everyone (especially the client, in this case, the US government) is much happier with these new numbers. Lest we forget, the NNI was signed into existence by a Democratic president, Bill Clinton and the administration is now led by another Democratic president, Joe Biden. As well, this report was released just in time for 2024, an election year.

While I think there might have been a little over enthusiasm in the estimates, the report seems to bear out the notion that nanotechnology is increasingly a foundational element of modern technology and products.