BARRIERS TO THE DIFFUSION OF NANOTECHNOLOGY

Authors: Bozeman, Barry¹; Hardin, John²; Link, Albert³

Source: Economics of Innovation and New Technology, Volume 17, Number 7, 2008 , pp. 751-763(13)

Publisher: Routledge, part of the Taylor & Francis Group

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Abstract:

This paper provides the first empirical information about barriers related to the diffusion of nanotechnology, a general purpose technology. Our analysis is based on the findings from a state-wide survey of companies in North Carolina, USA. We find that the primary barrier is lack of access to early-stage capital, and the extent of this barrier is greater when the company contributes to the value chain for nanotechnology through R&D as opposed to through products or services. Another barrier is lack of access to university equipment and facilities, a problem greater in companies involved in nanotechnology research. From a policy perspective, our analysis suggests that state governments could act as venture capitalists to overcome market failure in the capital market, and that states could provide incentives to universities through public/private centers of excellence for sharing capital equipment and facilities with nanotechnology companies.

Keywords: Nanotechnology; Innovation and University Partnerships

Document Type: Research article

DOI: http://dx.doi.org/10.1080/10438590701785819

Affiliations: 1: Department of Public Administration and Policy, University of Georgia, Athens, GA, USA 2: Department of Public Policy, University of North Carolina at Chapel Hill, Chapel Hill, NC, USA,North Carolina Department of Commerce, Raleigh, NC, USA 3: Department of Economics, University of North Carolina at Greensboro, Greensboro, NC, USA

Publication date: 2008-01-01

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