May 2, 2007 — The Australian government has released what the Australian Nano Business Forum (ANBF) calls a “$1.4 billion industry statement,” which recognizes the imperative of Australian industry to adopt nanotechnologies.

Australia has committed “to develop a National Nanotechnology Strategy and develop niche manufacturing industries based on nanotechnology, totaling $57.7 million,” according to the ANBF. ANBF CEO Tina Rankovic notes that “this type of commitment mirrors that previously announced by governments of major economies such as the US, Japan, UK and Germany.”

The ANBF urges the government to move quickly to implement this component of the industry statement. “Australia is a medium-sized economy in an increasingly global community, with a range of pressures and challenges. One of the mechanisms to address such challenges is to build sustainable competitive advantage at all levels — company, industry and country — through both product and business process innovation” says Rankovic.

The statement specifically targets the SME (small-to-medium enterprise) sector, particularly manufacturing, which is reportedly a key driver of Australian innovation.