Nanotechnology Innovations and Commercialization – Opportunities, Challenges & Reasons for Delay

International Journal of Engineering and Manufacturing (IJEM), 6(6), pp. 15-25, ISSN: 2305-3631. DOI: 10.5281/zenodo.161161

10 Pages Posted: 28 Nov 2016

See all articles by P. S. Aithal

P. S. Aithal

Srinivas Institute of Management Studies

Shubhrajyotsna Aithal

Srinivas Institute of Management Studies

Date Written: November 8, 2016

Abstract

Innovations in nanotechnology are making a revolution in manufacturing and production, creating new materials and products through novel processes for commercial applications. New products based on nanotechnology with novel characteristics are continued to grow and benefit the society. Being general purpose technology, nanotechnology is expected to support all fields of the society, but some fields like medicine, energy, environmental remediation, robotics, manufacturing, commerce, and space exploration are expected to undergo explosive developments. In this paper, we made a detailed analysis of advantages, benefits, constraints, and disadvantages of progress in nanotechnology for the society and discussed the reason for the failure of estimated timeline for realizing various generations of progress and proposed a modified timeframe for anticipated nanotechnology innovations. Based on the business perspective, we have developed a nanotechnology products/services commercialization model and discussed the opportunities for nanotechnology commercialization. The paper also contains a detailed analysis of common commercialization challenges faced by nanotechnology firms including time lag, the valley of death, lack of infrastructure, lack of a standard for evaluation, bureaucratic delays, the dearth of funding, and lack of trained professionals, brand image, and public support. Finally, we have mentioned how the various corporate business strategies can be used in the successful business of nanotechnology products and services.

Keywords: Commercialisations of nanotech products, Challenges in commercialization of new products, Nanotechnology commercialization model

Suggested Citation

Aithal, P. S. and Aithal, Shubhrajyotsna, Nanotechnology Innovations and Commercialization – Opportunities, Challenges & Reasons for Delay (November 8, 2016). International Journal of Engineering and Manufacturing (IJEM), 6(6), pp. 15-25, ISSN: 2305-3631. DOI: 10.5281/zenodo.161161. Available at SSRN: https://ssrn.com/abstract=2866363

P. S. Aithal (Contact Author)

Srinivas Institute of Management Studies ( email )

Srinivas Campus
Pandeshwar
Mangalore, Mangalore 575001
India
9343348392 (Phone)

HOME PAGE: http://www.srinivasuniversity.ac.in

Shubhrajyotsna Aithal

Srinivas Institute of Management Studies ( email )

Srinivas Campus, Mangaladevi Road
Pandeshwar
Mangalore, 575001
India

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