Nanotechnology Bags its First Nobel Prize: Poised to be a Lucrative Market in the Coming Years and get the Attention of Investors
In 2016, the Nobel Prize in Chemistry was awarded to Jean-Pierre Sauvage, Sir J. Fraser Stoddart and Bernard L. Feringa for their “development of molecular machines that are a thousand times thinner than a hair strand.” They created a miniscule molecular motor that could rotate a glass cylinder 10,000 times bigger than itself. Moreover, they designed a nanocar, molecular muscle, molecular lift and a molecular lift.
According to the Nobel Committee which announced the winners of the Prize in Chemistry 2016, “In terms of development, the molecular motor is at the same stage as the electric motor was in the 1830s, when scientists displayed various spinning cranks and wheels, unaware that they would lead to electric trains, washing machines, fans, and food processors,”. Nanotechnology has been undergoing unprecedented growth for a while now owing to the rising investment both by governments and other entities. Nanotechnology has received a well-deserved impetus with this prize and is certainly evident to grow with leaps and bounds due to the mass attention it gaining now.
The U.S. and Europe have traditionally been at the helm of the research in the field of nanotechnology, however, more and more countries are realizing how it can be a panacea to a multitude of global social problems. Consequently, developing countries are diverting more funds for research in this field. There has been an avalanche of investments from benefactors around the globe. Hence, nanotechnology is poised to be a lucrative market in the coming years, expanding its horizons to virtually every sphere of modern society.
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