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Posted: July 5, 2007
Nanotechnology disappoints in Europe
(Nanowerk News) The Busienss Week website is running an article today that says that "faced with struggling startups and a divide between research and innovation, the science of the small has yet to make it big in the EU."
"Anxious investors are but one of the problems plaguing nanotechnology, the cutting-edge science of manipulating materials and microscopic devices at the atomic level."
The article goes on to say that Oxonica is emblematic of Europe's nanotechnology sector: a story of early promise, huge hype, and dashed hopes.
While Europe's research is leading edge, on a par with the U.S., Europe's nanotechnology startups are less successful.
"Europe's weaker entrepreneurial culture also hurts startup activity. When nanotech companies are formed in Europe they often lack clear business models and exit strategies, and their teams tend to be short on commercial experience. That's one reason Europe gets a proportionally smaller share of global nanotechnology venture capital investment, according to Spinverse. And though public funding makes up some of the difference, it doesn't offer venture capital's other benefits, including strong industry knowledge and networking."