Aug. 16, 2004 – Public and private individuals and institutions will spend more than $8.6 billion worldwide on nano research and development this year, according to “The Nanotech Report 2004,” published by New York-based Lux Research Inc. The 600-page study also predicts that 2004 will be the last year that governments, responsible for $4.6 billion of that figure, outspend corporations on nanotech as the field matures.

“So much of the government activity has been an indication of spending for the most part in basic research,” said Mark Modzelewski, Lux Research’s managing director. “The shift means that nano is moving so much more toward commercializable markets.”

The report also found that nanotech startups are beginning to make money, with revenue ranges between $10 million and $20 million. Of the 30 companies listed on the Dow Jones Industrial Average, 10 have announced nano partnerships, and more than 60 percent are funding nano R&D. The $4,750 report follows a 2003 report published by Lux Capital Group LLC, from which Lux Research spun off in January. Lux Capital’s first report was released in 2001.