Nanotechnology has spawned a scientific and technical revolution based upon the ability to systematically organize and manipulate matter on the nanometer length scale. Its applications encompass optoelectronics, photonics, chemical and bio-detectors, advanced drug delivery systems, new generation lasers, systems on a chip, carbon nanotube products and nanoparticle reinforced materials.

Nanotechnologies are widely seen as having huge potential in areas as diverse as healthcare, information technology and energy storage. Governments and businesses across the world have started to invest substantially in their development. A recent report from Lux Research predicted that nanotechnology will impact most manufactured goods and represent $2.6 trillion in global manufacturing output by 2014.