Second Annual Lux Executive Summit Kicks off in Cambridge
Nanotechnology Commercialization Takes Center Stage at Exclusive Executive Gathering
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Lux Research, the world’s leading research and advisory firm for nanotechnology and the physical sciences, today hosted 300 executives from leading corporations, start-ups and investment management firms for its second annual Lux Executive Summit (www.luxexecutivesummit.com). The event is being held at the Charles Hotel in Cambridge, MA until October 17, 2006. Attendees were given an exclusive walking tour of Harvard University’s Center for Nanoscale Systems on Sunday.
“Nanoscale processes like General Motors' quick-plastic-forming aluminum are simplifying supply chains. Nanoparticulate diagnostics from companies like Nanosphere can turn fatal diseases into livable conditions. And nanoelectronics innovations from carbon nanotube electronics to spintronics promise to keep Moore's law going for another 30 years.”
The opening keynote by Lux Research President Matthew M. Nordan this morning emphasized how nanotechnology has moved from a discovery phase to commercialization. Nordan pointed out the characteristic 20-year time scales to commercial impact from previous technology waves like plastics and biotech, and showed how nanotechnology is currently in the midst of this transition. Among the commercial nanotech success stories described were more than $1.5 billion in nano-enabled pharmaceuticals sold last year, Smith & Nephew tripling its wound care product market share from its nanocrystalline silver Acticoat products, and long-under-development technologies like magnetoresistive memory (MRAM) coming to market in the last 12 months.
Nordan also emphasized the challenges posed by nanotech commercialization – including scale-up to commercial manufacturing volumes; defending intellectual property as opposed to filing it; constructing channels to market for novel products; and engaging consumers on environmental, health, and safety risks.
"The future is bright for nanotechnology," said Nordan. "Nanoscale processes like General Motors' quick-plastic-forming aluminum are simplifying supply chains. Nanoparticulate diagnostics from companies like Nanosphere can turn fatal diseases into livable conditions. And nanoelectronics innovations from carbon nanotube electronics to spintronics promise to keep Moore's law going for another 30 years."
Nordan was followed onstage by Rob Epstein, Chief Medical Officer of $38 billion Medco Health Solutions, Inc. Epstein’s presentation focused on nanotech’s broad impact on the healthcare industry and its ability to create personalized healthcare. Other presenters included Robert Kumpf, Vice President of Future Business - Americas at Bayer, who showcased tools that can be used to leverage innovation for developing strategic growth opportunities. Attendees were treated to a session on successful nanotech partnerships, with partners including A123 Systems and Black & Decker highlighting the experiences of organizations that have successfully introduced products incorporating nanotechnology by working together. The first day of the Lux Executive Summit concluded with Lux Research Vice President of Strategic Business Development Joe Raguso presenting on the lessons learned from his experience as a nanotech start-up CEO.
The Lux Executive Summit is the only event designed to provide corporate executives and investment managers with the knowledge and insights required to create a visionary nanotechnology strategy. The event is grounded by the proprietary data and analysis from Lux Research’s world-renowned analyst team, joined onstage by more than 50 speakers from large corporations, innovative start-ups, forward-thinking investment management firms, and the public sector. Capacity is limited at this premier event; additional details are available online at http://www.luxexecutivesummit.com.
About Lux Research:
Lux Research provides market intelligence and strategic advice on nanotechnology and the physical sciences. We help our clients make better decisions to profit from cutting-edge technologies by tapping into our analysts' unique expertise and unrivaled network. Our clients include top decision makers at large corporations, investment professionals at leading financial institutions, CEOs of the most innovative start-ups, and visionary public policy makers. To get connected and for more information, visit www.luxresearchinc.com. For Lux Executive Summit registration and additional event details, please visit www.luxexecutivesummit.com