President vows to double nanotechnology funding in state of the union address

Filed in archive Government on February 2, 2006

For the first time, nanotechnology has been included in a State of the Union Address. In his State of the Union Address, President Bush proposed to double Federal funding for nanotechnology and announced the American Competitiveness Initiative to encourage innovation, creativity and competitiveness.

"To keep America competitive," he said, "one commitment is necessary above all: We must continue to lead the world in human talent and creativity. Our greatest advantage in the world has always been our educated, hard-working, ambitious people - and we are going to keep that edge. Tonight I announce the American Competitiveness Initiative to encourage innovation throughout our economy, and to give our Nation's children a firm grounding in math and science."

"First: I propose to double the Federal commitment to the most critical basic research programs in the physical sciences over the next ten years. This funding will support the work of America's most creative minds as they explore promising areas such as nanotechnology, supercomputing, and alternative energy sources."

Other components of the initiative include a permanent research and development tax credit and steps to improve math and science education.

The American Competitiveness Initiative commits $5.9 billion in FY 2007, and more than $136 billion over 10 years, to increase investments in research and development, strengthen education, and encourage entrepreneurship and innovation.

The initiative should give a boost to the National Nanotechnology Initiative (NNI), announced by President Clinton in January 2000.

The NNI is a long-term research and development program coordinating 22 departments and independent agencies of the federal government, including the National Science Foundation, the Department of Defense, the Department of Energy, the National Institutes of Health, the National Institute of Standards and Technology, and the National Aeronautical and Space Administration.

The total investment in nanotechnology by the NNI in fiscal year 2004 was about $1 billion, accounting for about 25 percent of global government investments. The first four years of NNI has funded about 4,000 projects at more than 500 institutions. (photo courtesy whitehouse.gov)