Why Nanotechnology?

Nanotechnology is at the forefront of biological and environmental research. Nanomaterials are being utilized in a variety of applications by:

•       replacing known toxic substances such as lead in solder
•       controlling source pollution by making industrial and mining processes more efficient
•       reducing energy consumption through fuel additives and light-weight materials
•       providing clean, renewable energy in the form of solar power
•       assisting in the remediation of soil, water and air
•       enabling nanoparticle next generation of medical diagnostics and therapeutics

Abraxis Pharmaceutical Partners, based in Schaumburg, IL, uses nanotechnology to deliver chemotherapy drugs without the toxic solvents that cause severe side-effects; Nanosphere, based in Northbrook, IL, uses nanotechnology to develop diagnostics systems that could allow us to accurately diagnose in hours several diseases and conditions that are undetectable today; NanoInk, based in Skokie, IL, uses a nanoscale inscription device that can mark pills and prevent the illegal sale of pharmaceuticals, a crime that contributes significantly to the cost of medication in the U.S.; and Nanotope based in Skokie, IL uses nanofilaments coated with specific growth factors to induce the regeneration of injured spinal-cord axons – this technology has experimentally been shown to restore movement to quadriplegic mice with sever spinal trauma.

As the examples above suggest, the nanotechnology industry is a growing source of jobs and economic growth for the Chicago-land area. According to Lux Research, an independent research firm, nanotechnology will account for over 10 million jobs world-wide by 2015. The Chicago-area is poised to disproportionately benefit from that growth because it is positioned near several research universities. In particular, Northwestern University is consistently ranked in the top ten institutions for nanotech research and has spun-out a number of nanotech companies which have stayed in the area (Nanosphere, Nanotope, NanoInk and Polyera). Three of these companies are now located at a burgeoning nanotech cluster in the Illinois Science and Technology Park at Skokie, IL.