Massive business potential for the Nano-preneur
They say money makes the world go around, if this is truly the case, then we will soon be witnessing the smallest matter become the most important.
If expert analysis is to be believed, nanotechnology is poised to be the world’s next and greatest economic driver and you’re going to want to be a part of it.
In fact on a global scale, the nanotechnology market is forecasted to be worth over USD 125 billion by 2024, representing an impressive compound-annual-growth-rate (CAGR) of 17%.
This growth is being propelled by technological advancements, growing government support as well as increased research and development.
Combined these factors will see nanotechnology soon become a household norm like WiFi or streaming. Predictions indicate that 20% of all mass-market products will incorporate some form of nanotechnology as early as next year.
Some of the highest potential sectors in terms of nanotechnology include, electronics, biomedicines and cosmetics, which make up over 70% of the nanotechnology market share. The Mega Potential of Nano in Asia & Malaysia Closer to home, Asia is already touted as the next economic juggernaut with significant growth potential in a variety of sectors stemming from the increasing dominant role China and India are playing in the global market. This potential applies equally to the nanotechnology sector with major developments and innovations centred within the region. Right here in Malaysia, the potential of nanotechnology is also promising. While the market is comparatively nascent there is already steadily increasing interest and support from both the public and private sectors to accelerate growth of the nanotechnology industry. Currently there are already over 600 nanotechnology focused products in Malaysia, with the market estimated to exponentially grow within the next 10 years. With all of these impressive figures, it is clear to see that the claims that nanotechnology is the next great economic driver have merit to them. But the real question remains, as a budding nano-entrepreneur how would you leverage on this potential to make these promising figures work for you? Turning Predictions into Reality Toward this end, there are three critical factors that must be addressed to give you a fighting chance in the increasingly competitive nano-market.
First is gathering great industry insights. It is vital as a new initiate to the nano-market that you understand the industry landscape, the gaps in the market, the demand structure as well as have a good grasp of the competitors you will be up against. From there, you will require a great product. To guarantee long-term viability, it is critical to ensure genuine and high quality nano-elements are utilised in your product whilst maintaining cost competitiveness. Finally and potentially most importantly, is having great branding for your new nano-product. Determining the right message and optimum communication channels to bring your product proposition to the public in paramount. Effective communication will be key in building consumer trust and confidence whilst simultaneously differentiating your product from competitors. Verification – the Solution to Major Nano Problems While this may sound daunting, the truth is there is a simple solution if you’re looking to thoroughly equip yourself to conquer the nano-market. Get NanoVerified. NanoVerify, is Malaysia first and only nanotechnology verification programme, designed to certify the use of genuine nanotechnology in nano-products. NanoVerify’s meticulous verification process helps instil consumer trust and confidence. But unlike other verification bodies, NanoVerify’s role in spurring industry growth and product demand does not stop there. Consumer trust and confidence is further amplified through constant and strategic communication with audiences via media interactions, social media and on-ground events. NanoVerify also helps in the crucial initial business stage for nano-preneurs, providing invaluable industry insights and strategic guidance based on the research of their expert analysts. From there, NanoVerify, plays an active role in helping your brand and product build in-roads into high potential markets through trade exhibitions locally and internationally.
Through this holistic package of offerings, enterprising innovators and businesses can fully equip themselves to leverage on the next economic driver – nanotechnology.
For further insights on the nano-industry, latest news on verified products in Malaysia and other nano-developments visit
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