Nanotechnology, Robotics and Virtual Reality
October 6, 2008 – 5:02 pmWhen most people think of nanotechnology the first thing to come to mind may be an image out of the movie Fantastic Voyage or of the theoretical “nanorobots” from Michael Crichton’s novel Prey. Similarly the topics of robotics and virtual reality are often first thought about in terms of images from popular science fiction movies. However, companies such as iRobot and Emotiv are beginning to demonstrate the feasibility of things once limited to science fiction. While iRobot has initially focused on niche applications such as automated vacuum cleaners, the same technology developed to navigate their automated vacuums over uneven carpet may soon find use in automated vehicular control systems offering a future of driverless cars. Similarly, Emotiv has started off with a few niche applications in video games controlled based on an array of electrodes on a players headband. The underlying technology behind such “thought-controlled” electronics can potentially create an entirely new market of electronics.
The same potential for market creation exists for many nanomaterials based companies but an easy error to make is to initially focus on larger markets rather than the small niche markets having the potential for large growth. For example, in electronics many nanomaterials are proposed for new designs of non-volatile memory, sensors, and flat-panel displays. While nanomaterials can offer various improvements in performance in these applications, they all represent crowded markets with entrenched players. The key to success of many nanomaterial based companies (and the economy in general) will be the identification of the smaller niches within the existing markets offering a platform for expansion and the eventual creation of new markets. For example, instead of trying to create a nanomaterial based memory to replace all non-volatile memory a better strategy would be to focus on a better memory specific for FPGAarchitectures. Instead of creating nanomaterials to enhance the sensitivity of all types of existing sensors a better strategy would be to focus on finding ways of using nanomaterials for sensors in a specific application (e.g. biocompatible devices). Instead of making nanomaterials to enhance the optical properties or emission efficiency of various types of displays a better strategy would focus on what new applications of the display can be be provided by nanomaterials (e.g. wearable displays, printable displays, etc.)
