Joint ventures are also a way to fund innovative research at universities. Institutions are combining with industry to pool research efforts and do basic science that will generate technologies. This is allowing all of us to do a larger-scale research project. Big pharmaceutical companies need to be willing to fund the research at an earlier stage and, in turn, academic institutions have to be willing to focus their research to benefit both parties. A lot of research is being done in nano-technology, the concept that miniaturization can be taken to the cellular scale.
Many future applications are apparent, but much basic research is needed.
Some estimate it will be 10-15 years before a company will be able to commercialize the technology in some kind of product or service. Benefits of nanoscience will probably cross into different areas to affect many companies and the entire economy. At the moment the smallest transistor made is 10 nm, which is only twice the width of a protein molecule. It is not in computers yet, but it shows potential. But few companies can afford to invest the resources and time needed now for the future rewards.