Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Innovation Management and the Emergence of the Nanobiotechnology Industry

Abstract:
The confluence of nanotechnology and biotechnology is creating opportunities and an emerging industry, nanobiotechnology, with tremendous potential for economic and social value creation. The medical applications of nanobiotechnology are promising, including effectively targeted drug delivery - imagine highly efficacious cancer treatment with few side effects - and real time, minimally invasive diagnostics. But there is little known about the emergence of this industry or of ways to reap the possible benefits.

Innovation Management and the Emergence of the Nanobiotechnology Industry

Cambridge, MA | Posted on July 1st, 2014

Now an international research team at MIT, Simon Fraser University and the University of New South Wales has stepped in to study the phenomenon. A groundbreaking study recently published in Nature Nanotechnology (see www.nature.com/nnano/journal/v9/n1/fig_tab/nnano.2013.288_ft.html), examined the emergence and evolution of nanobiotechnology through tracking firms with capabilities in both biotechnology and nanotechnology. More than 500 firms have entered the field worldwide since 1990, and it is expected to soon triple in size from $20 billion to over $60 billion in sales. The team also studied two cases of breakthrough inventions - Doxil® and Zevalin® - both of which are effectively targeted cancer therapeutics (see www.sciencedirect.com/science/article/pii/S0923474813000775)

Innovation, and the growth of new industries, is thought to be more likely when a firm occupies the confluence or convergence of distinct streams of emerging technology. Research progress at the intersection of fields is probably more likely to occur when cross-disciplinary new product development teams are designed by the organization and when routines and processes are designed to support cross-disciplinary learning. A confluence of technologies is characterized both by the bringing together of formerly disparate fields of knowledge, and by the creation of new product markets. When a confluence of technology streams occurs, rich opportunities for experiment and progress may result, suggests Professor James Utterback of MIT.

Strategies that one might suggest as particularly useful for enabling innovation would include importing ideas from broad networks and diverse sources, hiring persons from diverse backgrounds, and creating an environment conducive to deep collaboration. This would include co-location of diverse groups, creating a culture and which encourages vigorous debate and differences in perspective.

####

For more information, please click here

Contacts:
Paul Denning
MIT Sloan School of Management
617-253-0576

Copyright © MIT Sloan School of Management

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Fast, efficient sperm tails inspire nanobiotechnology December 5th, 2016

Journal Nanotechnology Progress International (JONPI) Volume 6, issue 2 coming out soon! December 5th, 2016

Infrared instrumentation leader secures exclusive use of Vantablack coating December 5th, 2016

Construction of practical quantum computers radically simplified: Scientists invent ground-breaking new method that puts quantum computers within reach December 5th, 2016

Academic/Education

Oxford Nanoimaging report on how the Nanoimager, a desktop microscope delivering single molecule, super-resolution performance, is being applied at the MRC Centre for Molecular Bacteriology & Infection November 22nd, 2016

The University of Applied Sciences in Upper Austria uses Deben tensile stages as an integral part of their computed tomography research and testing facility October 18th, 2016

Enterprise In Space Partners with Sketchfab and 3D Hubs for NewSpace Education October 13th, 2016

New Agricultural Research Center Debuts at UCF October 12th, 2016

Nanomedicine

Fast, efficient sperm tails inspire nanobiotechnology December 5th, 2016

Journal Nanotechnology Progress International (JONPI) Volume 6, issue 2 coming out soon! December 5th, 2016

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Nanobiotix Provides Update on Global Development of Lead Product NBTXR3: Seven clinical trials across the world: More than 2/3 of STS patients recruited in the “act.in.sarc” Phase II/III trial: Phase I/II prostate cancer trial now recruiting in the U.S. November 28th, 2016

Announcements

Fast, efficient sperm tails inspire nanobiotechnology December 5th, 2016

Journal Nanotechnology Progress International (JONPI) Volume 6, issue 2 coming out soon! December 5th, 2016

Infrared instrumentation leader secures exclusive use of Vantablack coating December 5th, 2016

Construction of practical quantum computers radically simplified: Scientists invent ground-breaking new method that puts quantum computers within reach December 5th, 2016

Nanobiotechnology

Fast, efficient sperm tails inspire nanobiotechnology December 5th, 2016

Deep insights from surface reactions: Researchers use Stampede supercomputer to study new chemical sensing methods, desalination and bacterial energy production December 2nd, 2016

Nanobiotix Provides Update on Global Development of Lead Product NBTXR3: Seven clinical trials across the world: More than 2/3 of STS patients recruited in the “act.in.sarc” Phase II/III trial: Phase I/II prostate cancer trial now recruiting in the U.S. November 28th, 2016

From champagne bubbles, dance parties and disease to new nanomaterials: Understanding nucleation of protein filaments might help with Alzheimer's Disease and type 2 Diabetes November 24th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project