The Next Revolution
We have witnessed the agricultural, industrial and digital revolutions as well as the market booms it has caused. Now the market is primed for another wave of enormous potential with the emergence of nanotechnology.
To tech-savvy entrepreneurs, the potential of the nanotechnology sector is surely something you are already familiar with.
Global and household brands like Apple, Samsung, Microsoft, Adidas and even Tesla have incorporated nanotechnology elements into their products and are reaping the benefits with billions in revenue.
But for the uninitiated allow me to take this opportunity to clue you in on one of the world’s fastest growing and highest potential industries – nanotechnology.
What is Nano
First a quick introduction – Nanotechnology quite simply put is science, engineering, and technology conducted at the nano-scale (1 nanometre is one thousand-millionth of a metre) and implemented across a variety of fields.
Meeting an Evolving Consumer Appetite The consumer landscape is ever evolving and even more so now at an increasingly rapid pace. Technological innovations combined with lifestyle changes have seen a seismic shift in consumers’ expectations, needs and wants. Reports have indicated that customisability, specificity and efficiency are some the key factors consumers are prioritising and this is where nanotechnology comes into play. Working at the nano-scale brings a long a variety of benefits including being able to attribute higher strength, lighter weight, increased control of light spectrum, and greater chemical reactivity to objects and products. Nano in Size, Mega in Potential Some of the sectors that have most benefited from the advent and advancements of nanotechnology include electronics, energy, cosmetics, medical, defence, food and agriculture. Holistically speaking, the nanotechnology market is booming with the global industry set to reach RM313 Billion by next year! Driven by government support and research, Asia is primed to reap some of the largest benefits from this, with a projected compound annual growth rate of 22.9% over the next five years. Here in Malaysia, the potential is equally exciting with a projected RM3.3 billion in Gross National Income coming from nanotechnology within the next five years. Emerging local nano brands including Safi Rania within the skin care segment, P3 Sweetener in the artificial sweetener segment, IGL Coatings in the automotive care segment and more, are already capitalising upon this immense potential gaining significant consumer recognition which has translated into greater market share and a climbing revenue. And your business could be next! Unlocking Potential But the question remains, how do you break into nanotechnology market and leverage on the billions in market potential? Or even before that, how do you find out more about nanotechnology – if you’re product is already using nanotechnology or is a prime candidate for a nano enhancements? The answer can be summed up in one simple word – NanoVerify. NanoVerify, is Malaysia first and only nanotechnology verification body designed to certify the use of genuine nanotechnology in nano-products. As they say, consumer trust can make or break a company. Even with a stellar nanotechnology idea in hand, getting consumers to buy in and believe that your product is the real deal will be critical. This is where NanoVerify comes into play. The meticulous verification processes undertaken coupled with our efforts in consumer education, through on-ground and online engagements, helps instil consumer trust and confidence. However, being privy to the nature of emerging and niche industries, NanoVerify’s function goes beyond that of a typical verification body. Looking to spur industry growth, NanoVerify plays an active role in amplifying partner brand awareness online and on-ground, facilitating trade domestically and internationally as well as equipping businesses with intelligence, analytics and insights. The Verification Process But how do you go about getting NanoVerified? Here’s a quick summary:
A business first applies for verification through NanoVerify at which point a due diligence process is undertaken. After which, the verification process takes place either via product line inspections or lab tests to confirm if the product does indeed contain nano elements within the range on 1 to 100 nanometres. The approval committee then deliberates the results and following a successful discussion the NanoVerification certificate is issued to successful businesses and their products. So, if you are a business owner or entrepreneur looking for the next big market trend to anchor your business around, the answer is clear – nanotechnology. And if you want to ensure your innovation stands the best chance at market success then your next step forward is equally evident – get NanoVerified. For further insights on the nano-industry, latest news on verified products in Malaysia and other nano-developments visit https://www.nanoverify.com.my/, follow us on www.facebook.com/NANOVerify and www.instagram.com/nanoverify/