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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared Osama bin Laden, in tape, threatens to kill Americans 8:03am EDT Bin Laden threatens Americans with execution 12:28pm EDT Possible new human ancestor found in Siberia 24 Mar 2010 Obama dares Republicans to seek healthcare repeal 3:46pm EDT Sex toy startup has some big backers 17 Mar 2010 Scientists find how relaxed minds remember better 24 Mar 2010 Marijuana legalization will be on California ballot 6:51am EDT Possible new human ancestor found in Siberia 24 Mar 2010 Inside a global cybercrime ring 24 Mar 2010 Sex toy startup has some big backers 17 Mar 2010 U.S. lead in nanotech eroding, report finds Julie Steenhuysen CHICAGO Thu Mar 25, 2010 2:05pm EDT CHICAGO (Reuters) - The United States urgently needs to invest more in nanotechnology if it is to maintain its global lead in the emerging field, according to a report issued on Thursday to U.S. President Barack Obama. Technology Between 2003 and 2008, U.S. public and private investments in nanotechnology grew at 18 percent a year against 27 percent a year throughout the world, the President's Council of Advisors on Science and Technology reported. They recommend: * Increased overall funding to coordinate the nation's research and development in nanotechnology. * Greater focus on commercialization of new nanotech products. * Incentives for national foreign scientists and engineers studying in the United States to stay once they complete their training. Nanotechnology -- the design and manipulation of materials thousands of times smaller than the width of a human hair -- has been hailed as a way to make strong, lightweight materials, better cosmetics and even tastier food. The United States is a global leader in the field. In 2008 it invested $5.7 billion in nanotechnology research and development, more than any other country, according to the report from the 21 advisory council members. It is the third in a decade-long series of assessments of the National Nanotechnology Initiative or NNI, which coordinates federal research and development involving the manipulation of matter at scales smaller than 100 billionths of meter. "Though we are the leader, economic competition from other countries has dramatically increased," said Maxine Savitz, who chaired the NNI working group, which consisted of three members of the council and 12 nongovernmental nanotechnology experts. CHINA PATENT APPLICATIONS UP The group found that in 2005, the European Union outspent U.S. government investments in nanotechnology research and development. And in 2008, Asian countries -- mainly Japan, China and South Korea -- spent more. The United States has far more nanotechnology patents than any other nation. But in recent years, China has surpassed it in the number of patents applied for, the report found. "Going forward we need to place even more emphasis on the commercialization of the technology -- through, for example, strategic funding of nanomanufacturing -- supported by improved measures of the true value-added that nano products can bring to our economy," Savitz said in a statement. To achieve that, the working group called for a $2 million budget increase -- up from the current $3 million -- to strengthen the National Nanotechnology Coordinating Office, which oversees the NNI. And they recommend the NNI -- which has funneled $12 billion in investments through 25 federal agencies over the past decade -- increase its investment in manufacturing of nanomaterials by 100 percent over the next five years. The report also calls for programs to retain scientific and engineering talent trained in the United States, such as the development of permanent resident cards for foreign nationals who get an advanced degree in science or engineering at a U.S.-accredited institution and can prove they are working in science or engineering fields. And it calls for better ways to track the impact of nanotechnology on the economy, the environment and health. "Industry wants to know what is going to be required," Savitz said in a telephone briefing. (Editing by Xavier Briand) Technology Add a Comment More from Reuters Special Report: When did Toyota know about crash risks? Toyota sent a stark warning to dealers two years ago about the dangers posed by its floor mats and quietly worked to fix the issue. How was such a serious problem kept out of the glare of public scrutiny? Full Article Timeline: Toyota warned of floormat risk since 2007 Factbox: Toyota's U.S. recalls rose with fast growth Factbox: Where to find auto service bulletins Lawyers lay groundwork for Toyota litigation Autos The new cost of healthcare Corporate America is doing the math on healthcare costs and the tab is adding up. Should investors be worried? Full Article Health costs burden more Americans Retirees need 250K for health: Fidelity healthcare reform James Saft: Willing to work for less It was all a lie: A big pay cut doesn't drive away the best and brightest to competing firms and Ken Feinberg proved it. Full Article Feinberg demands more cuts What was Jamie Dimon's salary in '09? Executive Compensation © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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