Penton enters nanotechnology alliance

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Darien, Conn.--Internet World conference producer Penton Media has entered into a strategic partnership with the Washington-based NanoBusiness Alliance—a trade show producer specializing in what’s called “nanotechnology.” Nanotechnology describes microscopic products used in such industries as manufacturing, health care and information technologies. The nanotechnology industry should reach $1 trillion by 2015, according to the National Science Foundation. The U.S. Government has proposed spending more than $500 million on research and development in nanotechnology by the end of 2002. And an estimated $1 billion in venture capital is expected to flow to the industry annually for the next two years, Penton Media said. “Nanotechnology is no longer a sci-fi dream,” said NanoBusiness Alliance Exec VP Nathan Tucker. “Companies large and small are already bringing nanotech to the marketplace.” Hewlett Packard, Microsoft, IBM, Cargill, Ford, Westinghouse, Alcoa, Raytheon and Lockheed Martin are among a growing list of companies with nanotechnology programs, Penton said. The partnership calls for Penton Media and NanoBusiness Alliance to hold the NanoBusiness Spring conference May 19-21 in New York. A venture capital summit will also be held in the third quarter of 2002, Penton said.
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