Abstract
Despite many studies opening with ambitious forecasts of a rapidly evolving nanomaterial and nanotechnology industry, the industry’s boundaries are not clearly delineated. This is problematic because, in order for regulators to regulate, insurers to underwrite risk, and capital providers to provide funding, they must first have an in-depth knowledge of the industry and the idiosyncratic risks of its constituents. In this study, 517 nanomaterial and nanotechnology firms were identified, then systematically categorized under six emergent themes: Analysis, Bioanalysis, Drug Delivery, Electronics, Energy, and Materials. Such a system of categorization thus provides the starting point for a risk assessment, whereby those belonging to a certain category inherently pose similar levels of occupational, consumer, and environmental risk. Data was also gathered on each firm’s size, ownership structure, and source of funding. The majority of firms were found to have less than 50 employees and were privately held, many of which were funded by venture capital. This too has implications for industry stakeholders as their actions could potentially have an adverse impact on what is evidently still a nascent, emerging industry.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Bibliography
Armstrong, J. S., & Overton, T. S. (1977). Estimating nonresponse bias in mail surveys. Journal of Marketing Research, 14, 396–402.
Beaudrie, C. E. H., & Kandlikar, M. (2011). Horses for courses: Risk information and decision making in the regulation of nanomaterials. Journal of Nanoparticle Research, 13(4), 1477–1488.
Berube, D. M., Searson, E. M., Morton, T. S., & Cummings, C. L. (2010). Project on emerging nanotechnologies-consumer product inventory evaluated. Nanotechnology Law and Business, 7, 152–163.
Conti, J. A., Killpack, K., Gerritzen, G., Huang, L., Mircheva, M., Delmas, M., … Holden, P. A. (2008). Health and safety practices in the nanomaterials workplace: Results from an international survey. Environmental Science & Technology, 42(9), 3155–3162.
De Volder, M. F. L., Tawfick, S. H., Baughman, R. H., & Hart, A. J. (2013). Carbon nanotubes: Present and future commercial applications. Science, 339(6119), 535–539.
EC. (2005). The new SME definition: User guide and model declaration. Luxembourg: European Commission (Publication Office).
Engeman, C. D., Baumgartner, L., Carr, B. M., Fish, A. M., Meyerhofer, J. D., Satterfield, T. A., … Harthorn, B. H. (2012). Governance implications of nanomaterials companies’ inconsistent risk perceptions and safety practices. Journal of Nanoparticle Research, 14(3), 1–12.
Ghaderi, S., Ramesh, B., & Seifalian, A. M. (2011). Fluorescence nanoparticles “quantum dots” as drug delivery system and their toxicity: A review. Journal of Drug Targeting, 19(7), 475–486.
Helland, A., Kastenholz, H., & Siegrist, M. (2008). Precaution in practice. Journal of Industrial Ecology, 12(3), 449–458.
Helland, A., Scheringer, M., Siegrist, M., Kastenholz, H. G., Wiek, A., & Scholz, R. W. (2007). Risk assessment of engineered nanomaterials: A survey of industrial approaches. Environmental Science & Technology, 42(2), 640–646.
Hellmann, T. (2006). IPOs, acquisitions, and the use of convertible securities in venture capital. Journal of Financial Economics, 81(3), 649–679.
ICB. (2014). Industry classification benchmark. Retrieved November 15, 2014, from http://www.icbenchmark.com
Judy, J. W. (2001). Microelectromechanical systems (MEMS): Fabrication, design and applications. Smart Materials and Structures, 10(6), 1115–1134.
Karmali, P. P., & Simberg, D. (2011). Interactions of nanoparticles with plasma proteins: Implication on clearance and toxicity of drug delivery systems. Expert Opinion on Drug Delivery, 8(3), 343–357.
Linkov, I., & Seager, T. P. (2011). Coupling multi-criteria decision analysis, life-cycle assessment, and risk assessment for emerging threats. Environmental Science & Technology, 45(12), 5068–5074.
Lux. (2012). Nanotechnology update: Corporations up their spending as revenues for nano-enabled products increase. Boston, MA: Lux Research.
MacArthur, H., Varma, S., Elton, G., & Halloran, B. (2014). Bain & Company’s Global Private Equity Report 2014. Bain & Company. Available at http://www.bain.com/publications/articles/global-private-equity-report-2014.aspx
Maynard, A. D. (2007). Nanotechnology: The next big thing, or much ado about nothing? Annals of Occupational Hygiene, 51(1), 1–12.
Metrick, A., & Yasuda, A., (2007). What drives venture capital fundraising. Working Paper, The Wharton School, University of Pennsylvania, Vancouver.
Meyer, D. E., Curran, M. A., & Gonzalez, M. A. (2009). An examination of existing data for the industrial manufacture and use of nanocomponents and their role in the life cycle impact of nanoproducts. Environmental Science & Technology, 43(5), 1256–1263.
Mills, J. K. (2013). The language of nanotechnology and its role in intellectual property, regulatory settings, and consumer perception. In: Nanotechnology in dermatology (pp. 261–268). New York, NY: Springer.
Mohan, M., Trump, B. D., Bates, M. E., Monica, J. C., Jr., & Linkov, I. (2012). Integrating legal liabilities in nanomanufacturing risk management. Environmental Science & Technology, 46(15), 7955–7962.
Mullins, M., Murphy, F., Baublyte, L., McAlea, E. M., & Tofail, S. A. M. (2013). The insurability of nanomaterial production risk. Nature Nanotechnology, 8(4), 222–224.
Musee, N. (2011). Nanowastes and the environment: Potential new waste management paradigm. Environment International, 37(1), 112–128.
Nanowerk. (2014). Nanotechnology companies and laboratories. Retrieved November 2, 2014, from http://www.nanowerk.com/nanotechnology/research/nanotechnology_links.php
Nozik, A. J., Beard, M. C., Luther, J. M., Law, M., Ellingson, R. J., & Johnson, J. C. (2010). Semiconductor quantum dots and quantum dot arrays and applications of multiple exciton generation to third-generation photovoltaic solar cells. Chemical Reviews, 110(11), 6873–6890.
PEN. (2014). Project on emerging nanotechnologies (PEN). Retrieved November 2, 2014, from http://www.nanotechproject.org/cpi/
Podsakoff, P. M., MacKenzie, S. B., Lee, J.-Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879–903.
Prabhakar, U., Maeda, H., Jain, R. K., Sevick-Muraca, E. M., Zamboni, W., Farokhzad, O. C., … Blakey, D. C. (2013). Challenges and key considerations of the enhanced permeability and retention effect for nanomedicine drug delivery in oncology. Cancer Research, 73(8), 2412–2417.
PriceWaterhouseCoopers. (2008). Seeking differentiation at a time of change: Global Private Equity Report 41.
Schmid, K., & Riediker, M. (2008). Use of nanoparticles in Swiss industry: A targeted survey. Environmental Science & Technology, 42(7), 2253–2260.
Shapira, P., Youtie, J., & Kay, L. (2011). National innovation systems and the globalization of nanotechnology innovation. The Journal of Technology Transfer, 36(6), 587–604.
Subramanian, V., Semenzin, E., Hristozov, D., Marcomini, A., & Linkov, I. (2014). Sustainable nanotechnology: Defining, measuring and teaching. Nano Today, 9(1), 6–9.
USEPA. (2007). Nanotechnology white paper. Prepared for the US Environmental Protection Agency by Members of the Nanotechnology Workgroup, a Group of EPA’s Science Policy Council Science Policy Council, US Environmental Protection Agency, Washington, DC.
Zalk, D. M., Paik, S. Y., & Swuste, P. (2009). Evaluating the control banding nanotool: A qualitative risk assessment method for controlling nanoparticle exposures. Journal of Nanoparticle Research, 11(7), 1685–1704.
Zhu, S., Zhang, J., Qiao, C., Tang, S., Li, Y., Yuan, W., … Hu, R. (2011). Strongly green-photoluminescent graphene quantum dots for bioimaging applications. Chemical Communications, 47(24), 6858–6860.
Acknowledgments
This study was sponsored by the Sustainable Nanotechnologies (SUN) Project. Any opinions, findings, conclusions, or recommendations expressed in this study are those of the authors and do not necessarily reflect the views of the SUN Project. We also gratefully acknowledge the contribution of Alan O’Connell of Seroba Kernel.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer International Publishing Switzerland
About this chapter
Cite this chapter
Carroll, A., Mullins, M., Murphy, F., McAlea, E.M., Hester, K. (2016). Nanomaterial and Nanotechnology Firms: A Typology. In: Murphy, F., McAlea, E., Mullins, M. (eds) Managing Risk in Nanotechnology. Innovation, Technology, and Knowledge Management. Springer, Cham. https://doi.org/10.1007/978-3-319-32392-3_2
Download citation
DOI: https://doi.org/10.1007/978-3-319-32392-3_2
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-32390-9
Online ISBN: 978-3-319-32392-3
eBook Packages: Business and ManagementBusiness and Management (R0)