Government to fund nanotechnology product developmentDecember 13th, 2008 - 4:57 pm ICT by IANS
Bangalore, Dec 13 (IANS) The Indian government will assist industry in developing nanotechnology products for common use with seed capital and institutional loans, a top scientist said here Saturday.”The union ministry of science and technology will soon issue guidelines to the industry for taking up specific projects that will enable mass production of products with nano materials,” Indian Institute of Science scientist A.K. Sood told IANS at a conference on nanotechnology being held here.
In addition to the seed capital, the ministry will also arrange for bank loans for working capital.
As part of its national mission to promote nano-science and nanotechnology, the government has decided to involve the industry in focusing on products that will have mass applications in the areas of safe drinking water, food, healthcare, energy and mobility.
“The objective is to reduce the time taken from lab to market for optimal utilisation of resources and wider use of nanotechnology products. In the absence of an ecosystem in the emerging field, the funding will encourage the private sector to focus on nano products with mass appeal,” Sood, also a member of the nanotechnology mission, said.
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