Bringing together universities, national labs and industry, ISTC and partners developed a nanotechnology roadmap for Illinois, detailing recommendations that can help Illinois maintain its leadership role in nanotechnology in the coming years.
Nanotechnology has the potential to impact every sector of our economy. Nanotechnology is the process of engineering at the molecular scale to create new properties that have the potential to impact every sector of our economy, from health and medicine to energy.
Illinois already boasts one of the nation’s largest nanotechnology clusters, which can be harnessed through increased support and coordination to catalyze new business formation and economic growth for decades to come.
To capitalize on these opportunities, Illinois must expand the resources and facilities available to nanotechnology start-ups and attract more private investment.
By 2015, the market for nanotechnology products will be worth over $26 billion, growing at an annual compound growth rate of 11.1% for the period 2009–2015. The rapid expansion of the nanotechnology market, and the added advantage that nanomaterials and nanotools give American companies, has made investment in nanotechnology R&D a key component of the federal strategy for economic growth and American competitiveness.
In 2013, the Illinois Science and Technology Institute helped to facilitate and administer a grant from the Department of Commerce and Economic Opportunity (DCEO) to support the growth of nanotechnology opportunities for Illinois students.
The state’s commitment of up to $750,000 demonstrates a commitment to growing a skilled workforce, primed for high skill, high wage jobs in nanotechnology. This commitment was to Wheeling High School ($250K) and Oakton Community College ($500K). Learn more about these Case Studies.