In collaboration with Oakdene Hollins and the Univeristy of Nottingham, the Nanotechnology Industries Association has started a project aiming to develop a methodology for estimating, in monetary terms, the benefits of nanotechnology.
Entitled Valuing Nanotecnologies, the project will address this issue by developing a methodology to quantify the value of a nanotechnology in comparison to conventional product. The methodology will be flexible enabling specific geographic regions or industry sectors to be analysed in order to identify where the monetary benefit of the nanotechnology resides. It will also describe how the benefits are apportioned between users, manufacturers and the wider economy/environment. To simplify the methodology, various proxies and assumptions will be explored, in order to reduce the need to gather large amounts of information.
On completion of the project the results and findings will be presented to the OECD to encourage developing a consistent methodology for valuing nanotechnology.