Tech-savvy Karnataka is set to promote Bangalore as a nanotechnology hub to replicate its success in information technology and biotechnology sectors, with novel initiatives to attract investors, entrepreneurs and venture capitalists.

"We have initiated a number of measures to accelerate the growth of the nanotechnology sector on the lines of IT and biotech sectors. Efforts are on to replicate the success in IT and biotech sectors in terms of innovation, investment and job creation," Karnataka secretary for IT, biotech and science and technology Ashok Kumar C. Manoli said late Wednesday.

As part of its effort to showcase India's IT hub as a premier destination for the nanotechnology industry, the state government will host the second edition of "Bangalore Nano" Dec 12-14.

To be organised in association with the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), headed by prime minister's scientific advisory council chairman C.N.R. Rao, the three-day event will hard-sell Bangalore as a nano hub for stakeholders from India and abroad.

"Application of nanotechnology in diverse products is estimated to be $15 billion. Its increased usage in a range of applications and products has the potential to generate a trillion dollars by 2015," Manoli said.

"The state is shifting focus to nanotechnology. Many Indian small and medium companies have done research and innovation in the emerging knowledge area for product development and applications in daily use," Manoli said.

According to Ajay K. Sood, state nanotechnology vision group member and Indian Institute of Science professor, India has made a modest beginning with a five-year nano mission and Rs.10 billion outlay by the central government for development of nanotechnology.

"Nano revolution is on the world over with several countries making huge investments in developing products and applications using the cutting-edge technology," Sood said.

Source: IANS