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

Author

Listed:
  • Aithal, Sreeramana
  • Aithal, Shubhrajyotsna

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, valley of death, lack of infrastructure, lack of standard for evaluation, bureaucratic delays, 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.

Suggested Citation

  • Aithal, Sreeramana & Aithal, Shubhrajyotsna, 2016. "Nanotechnology Innovations and Commercialization – Opportunities, Challenges & Reasons for Delay," MPRA Paper 72337, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:72337
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    File URL: https://mpra.ub.uni-muenchen.de/72337/1/MPRA_paper_72337.pdf
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    File URL: https://mpra.ub.uni-muenchen.de/102891/1/MPRA_paper_72337.pdf
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    References listed on IDEAS

    as
    1. Aithal, Sreeramana & Aithal, Shubhrajyotsna, 2016. "Business Strategy for Nanotechnology based Products and Services," MPRA Paper 71766, University Library of Munich, Germany, revised Apr 2016.
    2. Aithal, Sreeramana, 2016. "The concept of Ideal Strategy and its realization using White Ocean Mixed Strategy," MPRA Paper 71770, University Library of Munich, Germany.
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    Cited by:

    1. Aithal, Sreeramana & Aithal, Shubhrajyotsna, 2019. "Transforming Society by Creating Innovators through Skill & Research Focussed Education – A Case Study of Srinivas University," MPRA Paper 95151, University Library of Munich, Germany.

    More about this item

    Keywords

    Commercialisations of nanotech products; Challenges in commercialization of new products; Nanotechnology commercialization model.;

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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