BOSTON, March 19 -- The Massachusetts Innovation & Technology Exchange (MITX) has announced the creation of the Nanotechnology Exchange, a statewide association to represent the interests and diverse constituencies of the rapidly expanding nanotechnology sector in Massachusetts.
Massachusetts is currently the second largest recipient of federal grants for nanotechnology research, and private venture capital firms have invested more than $150 million in state's nanotechnology start-ups and innovations in recent years. Unlike other technologies, nanotechnology crosses a wide spectrum of industries including biotechnology, manufacturing, energy, defense and electronics.
MITX formally launched the Nanotechnology Exchange at Nanotech 2004 conference and trade show, which was held in Massachusetts for the first time in Boston last week. More than 100 exhibitors, including Intel, Hitachi and Texas Instruments, and a host of nanotechnology start-ups throughout the US, participated in the conference, which drew about 1800 people.
"MITX's expanded charter is to embrace all new kinds of innovation in the state, helping to bring key constituents together in support of their respective best interests and common growth," said MITX Chairman Larry Weber. "Given the diversity of innovation we represent, it made tremendous sense to support the needs of the incredibly fast growing nanotechnology sector. This sector has the potential to touch virtually every aspect of the state's technology economy in a positive way, something we at MITX intend to fully support and facilitate."
The Nanotechnology Exchange will feature programs aimed at early-stage nanotechnology ventures and more mature businesses in the hardware, software, life sciences and telecommunications sectors, which rely on nanotechnology to fuel their own technological advancements. The Nanotechnology Exchange will also reach out to the service organizations and financial backers that typically drive the growth of any industry. First-year programming is likely to include: managing financial growth, managing intellectual property issues, moving ideas from the laboratory to commercial viability and creating a productive and financial viable interface between early stage companies and developing nanotechnology organizations.
For more information, visit: www.mitx.org