New research suggests that the most formidable barrier to commercializing nanotechnology is not the science itself, but rather the way organizations manage the innovation process. While nanotechnology is heralded as one of the most transformative frontiers of the 21st century, with the potential to revolutionize everything from cancer treatments and clean energy to next-generation electronics, a significant gap remains between laboratory discovery and commercial reality.
Despite a surge in global investment and thousands of registered patents, many promising breakthroughs never progress beyond the laboratory. The research examining 250 nanotechnology firms across 12 European countries suggests that organizational and collaboration challenges are a major reason why promising discoveries fail to reach the market.
The new study was co-authored by Prof. Nazrul Islam, Chair Professor of Business and Associate Director of Centre of FinTech at the University of East London and an expert in technology governance and innovation management. The research is published in the journal Technovation.
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