Concerns of new technology based industries-the case of nanotechnology

Among the emerging technologies of this century, nanotechnology has been generating extensive interest, and its impact on society is expected to be widespread and all pervasive. Critical research in this field is being carried out all over the world, leading to a growing industry and entrepreneurial activity. Innovation aspects of such new technology based companies have important implications for the economic growth of nations. A framework for understanding these aspects that would be revealing and instructive in dealing with such new technology based innovation and technological change is attempted in this paper.