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Wyden and Snowe
Propose Prize Competition to Spur Nanotech Innovation
Other Topics:
Nanotech Product Line
Office of Senator Snowe
July 16, 2008
Washington, DC -- Working to stimulate innovation and
private investment in nanotechnology, U.S. Senators Ron
Wyden (D-Ore.) and Olympia J. Snowe (R-Maine) today
introduced the Nanotechnology Innovation and Prize
Competition Act. The bill would authorize the Department of
Commerce to administer prize competitions in up to four
nanotechnology categories: green nanotechnology, alternative
energy, human health and commercialization of consumer
products. |
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"This prize competition will prove that
big things come in small packages," Wyden said. "Today,
nanotechnology stands on the cusp of revolutionary
breakthroughs. This bill is a catalyst for a giant leap
forward in solving complex challenges like global warming
and energy efficiency. By stimulating cooperation between
the government and private sector, this bill will promote
innovation, accelerate research, create jobs, and strengthen
U.S. global competitiveness."
"The boundless nature of nanotechnology is exciting and
promising," said Snowe. "From medical innovation to advanced
data networks to possibly even new fuel sources, this tiny
science has huge potential to revolutionize our daily lives
and solve the daunting challenges of our future. This
nanotech prize competition will enable the government to
leverage a relatively small amount of resources to stimulate
a much greater level of investment in nanotech research and,
in turn, the role of American innovation and invention on
the global scale."
Award competitions have a long and fruitful history of
spurring technological innovation. In 1927, Charles Lindberg
became the first person to fly non-stop across the Atlantic
Ocean, which he accomplished to win the Orteig Prize
competition. In 1996, The X PRIZE was created to encourage
development of civilian space flight. The award inspired
such competition that the $10 million prize was given only
eight years later and spurred over $100 million in
technological investments.
The bill authorizes the Secretary of Commerce to establish a
board comprised of members from relevant federal agencies,
academia, business and non-profit organizations with
expertise in nanotechnology and prize competitions. The
board would be authorized to contract with an organization
such as The X PRIZE Foundation to administer the
competitions and solicit funds from private individuals and
entities to supplement the government funds for prizes.
"Given the stakes, it is shocking that no government has
identified green nanotechnology as a national priority,"
said David Rejeski, director of the Project on Emerging
Technologies at the Woodrow Wilson International Center for
Scholars. "The topic of enabling more
environmentally-friendly nanotechnology largely has been a
sidebar discussion at hundreds of scientific workshops and
conferences. While investment in nanotechnology research is
over $13.5 billion annually, relatively little research
attention is being directed to ‘greening’ technology. This
award kick-starts that action."
Wyden and Snowe are
working with other Senate nanotechnology leaders to enact
the Nanotechnology Innovation and Prize Competition Act as
part of the nanotechnology reauthorization bill, which is
currently before the Senate Commerce Committee. |
