Minister for Trade and Commerce, Michael Ahern opens Nano-Economic Congress

Nanotechnology will have significant impact on sustaining economic prosperity – Minister Ahern

The Minister for Trade and Commerce, Mr. Michael Ahern, T.D., today (Wednesday 20^{t h} April 2005) opened the World nano-economic congress which is being held over two days at the Radisson SAS St. Helen House Hotel in Dublin. The 5^{t h} congress, sponsored by Enterprise Ireland is being held in Ireland for the first time. At the congress, rresearchers, industrialists and investors from around the world will have the opportunity to share their knowledge and experiences in the commercialisation of nanotechnology.

Opening the congress, Minister Ahern said, “The US National Science Foundation have estimated that nanotechnology enabled products will be worth in excess of US $1trillion by 2010. Clearly nanotechnology will have a significant impact on many sectors in the next several decades, including those that are central to sustaining Ireland's economic prosperity. For a small, export orientated nation such as Ireland it is clear that we must focus on areas in which we can excel.

“Our investments in university-based research is already bearing fruit in the form of new start-up companies producing high value-added products, built around in-depth knowledge of nanotechnology. While governments and policy makers can create the environment for the successful commercialisation of nanotechnology, it is only companies that can realise the market opportunities and build competitive advantage”. Minister Ahern added.

Mr Feargal Ó’Móráin, Executive Director, Enterprise Ireland said, “There is a diverse marketplace available for commercial applications linked to nanotechnology including the electronics, medical devices, pharmaceutical, plastics and food sectors. As a market with tremendous potential, it is vitally important that we continue to build and exploit the intellectual property being developed through our Third Level colleges”.

ENDS/TC147

For further information contact:

Kathleen Quinlan. Press Officer, Enterprise Ireland 087-969 1680

Notes to Editors

Nanotechnology concerns the control and manipulation of matter on the atomic scale, to exploit the novel properties that occur in this size range. The term nano derives from the nanometre (NM), which is one billionth of a metre. To put this in perspective, a human hair is about 80,000 nm wide.

The World Nano-Economic Congress (WNEC) Ireland is a cooperative effort between Enterprise Ireland and Cientifica to bring the focus of nanotechnology and its impact upon industries to the rapidly growing economy of Ireland. This is the 5^th WNEC event, with previous events in USA, UK, Germany and Singapore. ENDS