Nanotechnology
New technology has been considered by governments, business leaders, industry stakeholders, and the educational sector as the key towards promoting and ensuring economic growth, especially in relation to the manufacturing sector. Some of the major technologies that have emerged in the recent past include nanotechnology and biotechnology. Nanotechnology is considered a major technology for growth because it provides an important opportunity to deal with global challenges. According to The British Standards Institution (BSI), nanotechnology is the development, characterization, production and utilization of systems, structures and devices through directing the size and shape in the nanoscale (Materials UK, 2010). Since its adoption in the United Kingdom (UK), nanotechnology has continued to evolve towards promoting economic growth. Consequently, there are some implications of the growth of the nanotechnology sector in the United Kingdom.
Background of the Nanotechnology Sector in the UK
The adoption of nanotechnology in the UK can be traced back to 2009 when the government declared its intention to create a UK Strategy for nanotechnologies (HM Government, 2010). The government launched UK Nanotechnologies Strategy as part of its devotion to the effective and safe creation of these technologies. The Strategy was developed and adopted based on the premise that nanotechnologies have the potential to provide improvements for UK consumers. The other reasons for development and adoption of nanotechnologies are their potential to help maintain constant recovery and growth of the country's manufacturing industry and help in dealing with global challenges. The Strategy was developed on the premise that the safe, responsible and sustained use of emerging and enabling technologies meets the needs of the public as well as education and industry sectors.
Nanotechnologies have been applied in different areas in UK's economy including business, innovation and industry, regulation, environmental, health and safety research, and the wider world as shown in Figure 1 below. The aim of applying nanotechnologies in business, industry and innovation is to create nanotechnologies industries with good relations and support from the government in an integrated, transparent, skilled, and responsible manner. In environmental, health and safety research, the aim is to promote better understanding of risks linked to using and exposing nanomaterials and ensuring they are assessed by people with the right skills. From a regulatory perspective, nanotechnologies adoption is geared towards establishment of better informed regulations and policies associated with nanomaterials and nanotechnologies. For the wider world, the aim of adopting nanotechnologies is to help ensure the United Kingdom plays a leading role in nanotechnologies on the world stage (HM Government, 2010). The end-use application of nanotechnologies is in various sectors including aerospace, electronics and ICT, automotive, space, green technologies, and food...
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