DTI Allocate £50 million to Fund Nanotech R&D

The UK’s Department of Trade and Industry (DTI) have put £50 million up for grabs in a nanotechnology initiative. They have made the money available to fund research into commercialising nanotechnology applications.

They established the fund to ensure that UK-based companies were not left behind during the development of an emerging market that is estimated will be worth $1 trillion within 10 years.

The £50 million will be used over the next three years to fund research projects, with further calls to go out in 2005 and 2006. The first round will see £15 million distributed to around 30 projects, to cover up to half of their project costs. The projects must be collaborative and involve at least 2 UK-based companies.

Further information can be found at www.mnt.ork.uk.

For more information on nanotechnology, click here.

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