Methodology

Definition

For the purposes of this report, nanotechnology is defined as "the study of phenomena and fine-tuning of materials at atomic, molecular and macromolecular scales, where properties differ significantly from those at a larger scale."[i] The specific focus of this report is on venture capital funding of nanotechnology, and as such this report does not cover industrial investment in internal or cooperative research activities. The definition of a nanotechnology company for the purposed of this report is a company that's technology involves work at ‘atomic, molecular and macromolecular scales'. This is typically self-defined by the companies themselves.

Methodology for Preparing the Report

The development of this report has involved desk research and discussion with investors, including an investment-focused session at Nanotech Northern Europe 2008.

Methodology for Quantitative Assessment

All listings of deals in this report should be considered as a selection of the total, and should not be considered to be an exclusive list of all investments over the period. Some deals occur in secrecy or are not widely reported; in other cases deals are disclosed but details - such as the amount of investment - are not.

Quantitative assessments of market size, growth rates, and the current market shares of nanotechnology enabled products are developed using external data sources such as market research providers, industry groups, and individual experts. Estimates and market size projections that are made by the authors of this report are clearly marked as such.

All forward looking estimates are necessarily a projection, and are therefore subject to error within the market models themselves, as well as to unforeseen external events. In particular, the current economic crisis has forced countries and companies to significantly adjust their growth forecasts - in most cases, this will not have been taken into account in projections which date from before 2008.

[i] Introduction to Nanotechnology, http://ec.europa.eu/nanotechnology/index_en.html