The panel of leading academics and venture capitalists agreed that while the quality of technology in Europe and the US is similar, the opportunities in Europe tend to be much closer to commercialisation than in the US, and hence more attractive in today's environment from a venture capital investment perspective. Europe is particularly strong in materials, tooling and precision engineering, all pre-requisites for successful exploitation of nanotechnology.

Additionally there is strength in the UK in nano-biotechnology, and Professor Peter Dobson, of the University of Oxford, gave examples of opportunities that are already in the market such as gene-chips which are used to categorise different biological reactions and biosensors.

Professor Mark Welland, professor of nanotechnology at the University of Cambridge, stressed that nanotechnology is engineering at the ultimate limit of what is possible, at the single atom and molecule level. He identified that the convergence of life sciences and physical sciences at the nano-size domain will create the greatest breakthroughs in the future.

The panel all agreed that nanotechnology will have an impact in many markets and correspond to huge opportunities. Indeed Giuseppe Curatolo, director of venture capital firm Draper Fisher Jurvetson, said that he expects exponential growth in nanotechnology, "which will be more than just miniaturization and as disruptive as the shift from analogue to digital."

A report released this week by FirstCapital says that the sector is generating increasing interest from venture capitalists, as well as significant increases in funding from governments around the world. Hazel Moore, chairman of FirstCapital, said that venture capital funding of nanotechnology companies has increased this year, and that companies such as Oxonica held enormous potential.

Hazel Moore concludes: "UK universities in particular are undertaking world class research, and the commercial opportunities will come much sooner than most people imagine. Now is the time for venture capitalists to be investing in this sector as the market opportunities for the early winners are very substantial."

Please click on this link for our recently published report "Nanotechnology Today - Hype or Reality?"

About nanotechnology
Nanotechnology is the scientific study and exploitation of material, structures and devices in the size range of 1-100nm. One nanometer is one billionth of a meter, approximately 1/100,000 the width of a human hair.

For further information please contact: Amer Vohora, FirstCapital on 020 8563 1563 or amer@firstcapital.co.uk