Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

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 - DoxilŽ and ZevalinŽ - 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

Revealing the nature of magnetic interactions in manganese oxide: New technique for probing local magnetic interactions confirms 'superexchange' model that explains how the material gets its long-range magnetic order May 25th, 2016

Gigantic ultrafast spin currents: Scientists from TU Wien (Vienna) are proposing a new method for creating extremely strong spin currents. They are essential for spintronics, a technology that could replace today's electronics May 25th, 2016

Diamonds closer to becoming ideal semiconductors: Researchers find new method for doping single crystals of diamond May 25th, 2016

Supercrystals with new architecture can enhance drug synthesis May 24th, 2016

Academic/Education

Graphene: Progress, not quantum leaps May 23rd, 2016

Smithsonian Science Education Center and National Space Society Team Up for Next-Generation Space Education Program "Enterprise In Space" May 11th, 2016

The University of Colorado Boulder, USA, combines Raman spectroscopy and nanoindentation for improved materials characterisation May 9th, 2016

Albertan Science Lab Opens in India May 7th, 2016

Nanomedicine

Supercrystals with new architecture can enhance drug synthesis May 24th, 2016

Nanoscale Trojan horses treat inflammation May 24th, 2016

Programmable materials find strength in molecular repetition May 23rd, 2016

Tiny packages may pack powerful treatment for brain tumors: Nanocarrier provides efficient delivery of chemotherapeutic drug May 23rd, 2016

Announcements

Revealing the nature of magnetic interactions in manganese oxide: New technique for probing local magnetic interactions confirms 'superexchange' model that explains how the material gets its long-range magnetic order May 25th, 2016

Gigantic ultrafast spin currents: Scientists from TU Wien (Vienna) are proposing a new method for creating extremely strong spin currents. They are essential for spintronics, a technology that could replace today's electronics May 25th, 2016

Diamonds closer to becoming ideal semiconductors: Researchers find new method for doping single crystals of diamond May 25th, 2016

Supercrystals with new architecture can enhance drug synthesis May 24th, 2016

Nanobiotechnology

Supercrystals with new architecture can enhance drug synthesis May 24th, 2016

Nanoscale Trojan horses treat inflammation May 24th, 2016

Programmable materials find strength in molecular repetition May 23rd, 2016

Tiny packages may pack powerful treatment for brain tumors: Nanocarrier provides efficient delivery of chemotherapeutic drug May 23rd, 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







Car Brands
Buy website traffic