Nanotech to create business opportunities

Nanotech to create business opportunities

Australian-Indian nanotechnology expert, Professor Chennupati Jagasdish says “Nanotechnology could have a huge impact on all the industry sectors — from communications to healthcare to energy — by 2030.” He recently visited the country to explore possible opportunities to collaborate with Indian institutions.

The distinguished professor at Australian National University (ANU), Jagadish was awarded Australia's highest civilian honour - the Companion of the Order of Australia early this year. Talking exclusively to this newspaper, the nanotechnology pioneer sheds light on the new business opportunities that can be created by nanotechnology. “Going by the predictions made in the US, there will be more than $2 trillion worth of economic activity based on nanotechnology by 2030,” says the physicist. Especially in the healthcare sector, nanotechnology could have a profound impact.

“The current cancer detection levels are such that, patients need to have certain levels of cancer indicators for it to be detected. Sometimes, it could be too late and start spreading into other parts of the body,” says Jagadish. However, through nano lasers, one can detect the signals of cancer at the single molecule level, while minimizing the spread of the cancer and mortality as well.

“It improves the quality of life of people,” he adds. In addition, this powerful technology facilitates secure and faster exchange of information.

“We are creating single photon sources to make information very secure. It is impossible for a third party to tap the information if I send photons, one at a time. The system automatically realises that somebody is tapping the information and destructs it immediately,” explains Jagadish.

The professor also says that, currently, 17 terawatts of energy is being used for seven billion people. By 2050, approximately, nine billion people will require 30 terawatts of energy.

“We cannot depend on fossil fuels and thermal power plants to create enormous amount of energy. We aim to create renewable energy source by making flexible solar cells using nano wires that can collect light more efficiently. Nanotechnology has a lot in store to offer in this area,” he adds.