Peres: Invest $600-700m in nanotechnology

Applied Materials president Dan Maydan will head a national nanotechnology committee.

Former Minister of Foreign Affairs Shimon Peres has proposed raising money from Jews worldwide for a national nanotechnology program. Peres made the proposal at a seminar hosted by the Israel Center for Management (MIL) yesterday.

Peres said, “Israel should make huge investments in nanotechnology research, the most influential research area for shaping the future of all fields. Without such an investment, Israel might miss the train, since there no room for second-raters in this field, only the best.”

Peres estimates that Israel should invest $600-700 million in a national nanotechnology program that would include both academe and industry. Peres proposed raising the money from the Diaspora, in an arrangement similar to Israel Bonds. The enterprise would distribute future dividends to investors.

The appointment of a national nanotechnology committee was announced today. The committee will implement the national R&D infrastructure forum’s capital investment plan for nanotechnology. Chief Scientist Eli Opper and Israel Academy of Sciences and the Humanities president Yaakov Ziv appointed the committee.

Applied Materials founder president Dan Maydan will head the committee, which will have a five-year $30 million budget. The committee will recommend investments for the establishment of preliminary infrastructures and R&D in the field.

Published by Globes [online] - - on December 30, 2002

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