$100 million for nanotech start-ups from Mitsubishi

from the the-race-is-on dept.
A Dow Jones news item reports: "Mitsubishi Corp… will set up an investment fund in April focusing on start-ups working in the field of nanotechnology, where devices are measured in billionths of a meter, The Nihon Keizai Shimbun reported in its Wednesday morning edition. The big trading company will use the $100 million fund to invest in start-ups developing new materials, information technology equipment and medical technology based on nanotechnology, the first fund to specialize in the area." Read More for additional excerpts. "Nanotech products are seen as a source of competitive gains in the years ahead. The Japanese market for nanotech products will reach Y19 trillion in 2010, according to Mitsubishi Research Institute's estimate. But development and manufacturing are extremely costly, placing a huge financial burden on start-ups. Mitsubishi Corp. and U.S. unit Mitsubishi International Corp. will seek investors globally. About $2 million to $10 million from the five-year fund will be invested in any one venture."