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Nanotechnology In Finnish Industry 2008

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The number of active companies in the Finnish nanotechnology sector increased to 202 from 61 in 2004. Nanotechnology had had a significant positive impact on economic development in the key clusters …

The number of active companies in the Finnish nanotechnology sector increased to 202 from 61 in 2004. Nanotechnology had had a significant positive impact on economic development in the key clusters of the Finnish industry. While the sector growth continued, companies are facing main challenges in shortage of funding and manpower, and intellectual property rights(IPR) issues.

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  • 1. FinNano Nanotechnology in Finnish Industry 2008 – Survey Results Juho-Kusti Kajander Pekka Koponen Spinverse Consulting
  • 2. Summary FinNano The number of active companies in the Finnish nanotechnology sector has increased to 202 from 61 in 2004 In addition to over 200 technology companies, the sector growth has created new business opportunities for numerous service companies 65 companies had commercial products or processes in 2008 (27 in 2004) Nanotechnology has had a significant positive impact on economic development in the key clusters of the Finnish industry Nanotechnology sector size in Finland exceeded 300 Meur in 2008, up by 25 % from 2006. Exports accounted for over 60% of total company revenues in the sector. The industry employs approximately 2 900 professionals (300-400 in 2004) Private investments in nanotechnology exceeded 65 Meur as industrial investments reached 56,6 Meur and Venture Capital 9,5 Meur While the sector growth continues, companies are facing main challenges in shortage of funding and manpower, and intellectual property rights(IPR) issues Most industries have a deep pipeline of R&D, to be realised in 1.5-3.5 years Especially SMEs seeking internationalisation find availability of risk finance and qualified manpower, and IPR problems as main challenges to company development
  • 3. Agenda FinNano Methodology and Data Industry Analysis Predictions
  • 4. Nanotechnology in Finnish Industry 2008 - technology survey received a large number of FinNano responses 2008 survey received 123 responses Response rate was 40,3 % Number of responses increased by 32,2 % from 2006 Number of Companies/Respondents 350 300 Number of Companies 250 200 150 100 50 0 2004 2006 2008 Companies Identified Responses
  • 5. Survey results were added to Tekes data, and information from the previous survey FinNano 113 Companies reported nanotechnology activities in the 2008 survey 26 Companies are involved in the FinNano program but did not respond to the survey 63 Companies were found to be active during the 2006 survey, and are still active now 202 TOTAL
  • 6. Agenda FinNano Methodology and data Industry Analysis Predictions
  • 7. Nanotechnology is used in all sectors of Finnish industry FinNano Renewal of industry clusters and production Energy Metal Forest Health, ICT Construction Environment Mech.eng. Cluster well-being Nanotechnology materials and processes Nanstructured and functional materials, coatings and devices Production and scalability Instruments and Tools Infrastructure, measurement methods, equipment Safety and Standardisation Safe and sustainable development Benefits to society and environment
  • 8. The number of technology companies active in nanotechnology has increased from 61 to 202 FinNano The increase has taken place especially in the commercial and product development stage. In 2008, 65 companies had commercial products in the market. The development has been seen across company size Number of Finnish Companies Active in Nanotechnology, 2004-2008 2008 2006 2004 0 50 100 150 200 250 Number of Companies Vision Research Product Development Commercial Product
  • 9. All key clusters in the Finnish economy have nanotechnology companies FinNano Number of Nanotechnology Companies by Industry 2004-2008 60 Chemicals and Materials 50 Health and Well-Being Number of Companies ICT 40 Tools and Instruments 30 Forest Cluster 20 Energy and Environment Metals and Mechanical 10 Engineering Construction 0 2004 2006 2008
  • 10. The needs of the growing nanotechnology sector have created new business opportunities for FinNano service companies The survey identified 31 service companies that are active in nanotechnology by helping the Finnish nanotechnology sector in e.g. business development, fundraising and product development Nanotechnology sector needs have created both new companies with a strong focus on nanotechnology driven services and new business for existing service companies Finnish Service Companies Active in Nanotechnology 16 14 12 Number o Companies 10 8 6 4 2 0 Technical Management Private Equity Legal Services Other Consulting Consulting
  • 11. In 2008, industrial investments in nanotechnology exceeded 56 MEUR and focused on Chemicals and Materials, Forest and ICT FinNano 2008 Industry Investments in Nanotechnology in Finland (1000eur) 2800 700 3700 14900 6800 8300 9700 9600 Chemicals and Materials Forest Cluster ICT Health and Well-being Energy and Environment Tools and Instruments Metals and Mech. Eng. Construction
  • 12. Private investments in nanotechnology exceeded public funding in 2008 FinNano Overall investments in nanotechnology in Finland reached 104 Meur in 2008; public funding 38 Meur, industrial investments 56 Meur and venture capital 9,5 Meur During 2006-2008, overall investments grew by 33,6 % Investments in Nanotechnology in Finland, 2006-2008* 120 100 80 Venture Capital Industrial Investments Meur 60 Public Funding 40 20 0 2006 2008 *Source for public funding figures: Tekes
  • 13. Economic measurement for emerging technologies is a complex and debated task due to their multi- FinNano industry impact Global nanotechnology figures are typically estimated with the following methodology. First, the percentage of products incorporating nanotechnology is estimated. Second, this figure is multiplied by total revenues. Nanotechnology in Finnish Industry 2008 used also data from primary sources. Directly reported data was combined with an estimate of company nanotechnology intensity and product pipeline analysis.
  • 14. Finnish nanotechnology sector size exceeded 300 Meur in 2008, up by 25 % from 2006 FinNano Nanotechnology Sector in Finland 2006-2008 350 Market figures in 2008 300 •Sector size: 317 Meur 250 •Share of exports: 60,4% •Employment: ca. 2900 200 professionals •On average, the 150 companies expect the market to grow by 67,4 % 100 by 2010 50 0 2006 2008 Chemicals and Mat er ials Ener gy and Envir onment Healt h and Well- being ICT For est Pr oduct s Tools and Inst r ument s Const r uct ion Met als- and Mechanical Engineer ing
  • 15. Finland is well-aligned with key global trends FinNano Global Trend 2006-2008 Finland √ •Nanotech funding increases, lead by Corporate Spending, √ though VC Dips •Materials sector sees the most revenue, followed by ICT; life sciences, and energy lag
  • 16. Funding, qualified manpower and IPR problems are key challenges for the sector’s strong growth FinNano ”What have you found to be the main challenges when commercialising nanotechnology?” Shortages of Funding Shortages of Qualified Manpower Problems with Intellectual Property Rights Difficulties in Achieving Reliable Mass Production Lack of Suppliers in the Area Lack of Customer/Consumer Acceptance Lack of Applications in the Area Lack of Standards 0 5 10 15 20 25 Number of respondents naming this as main challenge
  • 17. The Finnish nanotechnology sector needs funding for international growth FinNano Nanotechnology sector is looking for 86 Meur of external funds in the next two years mainly from VCs and public sector to take products to international markets Top 4 nanotechnology sector future needs are all in international growth Funding is an issue especially for SMEs and growth companies Funding availability for nanotechnology sector’s future growth raises concerns – the need for venture capital is double to the average annual supply of 13,4 Meur (2002-2008) Need for External Funds 2009-2011 60 50 40 Meur 30 20 10 0 Risk Finance Public Funding Private Investments Debt
  • 18. The sector is likely to be experiencing the funding gap between seed stage public and later stage private venture capital. FinNano Majority of Finnish Companies Amount of capital available in Nanotechnology Lack of professional and large enough VC funds supporting ideas with a Public money for seed Private VC is focused in more mature global dimension Government is very companies active in small seed stage VC funds that are large enough for multi million investments (< 500 kEur). Euro investments are focused on more mature Very limited private VC & stages. Very few larger investments are made in angel activity companies below 2 million of annual revenue. Seed Start up Early growth Expansion
  • 19. There is reasonable evidence of a skills shortage in nanotechnology FinNano 53 % of respondents found recruitment to be ’difficult’ or ’very difficult’ – up by 10 % from 2006 Skills shortage is the most burning issue for Tools and Instruments and medium-sized companies Have you found it to be easy or difficult to recruit skilled people in areas connected to nanotechnology? Very Difficult 2008 2006 Very Easy 0 10 20 30 40 50 % of respondents
  • 20. IP problems are the main challenges in university-industry co-operation FinNano Patents and trade secrets are the most common methods to protect intellectual property in the Finnish nanotechnology sector In effect, companies find IPR issues as a challenge especially in industry co-operation Main Challenges in University-Industry Co-operation Issues Related to Ownership of Intellectual Property Challenges in Identifying Commercial Opportunities Lack or Underdevelopment of Production Technologies Communication Problems Basic Orientation of Research 0 5 10 15 20 25 30 35 Number of respondents naming this as a very important factor
  • 21. A comprehensive product pipeline analysis was conducted for all industries FinNano
  • 22. Chemicals and Materials Technology Pipeline FinNano Research Product Development Commercial Coatings •Functional UV-TiO2 •Fire retardant coatings nanocomposites nanoparticle •Functional paints and coatings •Nano-diamond retention systems •Hybrid coatings •Colour coated sheet metal products materials for (Sacht Leben) •Plastic film surfaces industrial Nanoparticle applications dispersions for paper Materials •Carbon nitride coating applications •Fire resistance composite materials (Basf-Ciba) •Carbon nitride materials for thin films •Improved catalyst Nano-diamond and coatings •Catalytic materials with nanoscale materials materials active sites •Anti-graffitti (Carbodeon) •Precursors for nanotechnology coatings UHP Metal salts production •Ultrapure metal Organic metal •carbon based nanomaterials salts precursors(Puraliq) •Nanocomposites in packaging •Electrically Protective and materials conductive decorative coatings Nanoparticles compounds (DIARC Tech.) •Metal-based nanoparticles •Non-combustible Heat-resistant oven •Organic nanoparticle dispersions for ceramic binder coatings paper coating applications •Intelligent surface (Finnester Oy) •Nanoparticle binder and sizing solutions … products •Ceramic powders
  • 23. Carbon nanotube enhanced composite material improves windmill performance FinNano Improved windmill performance at very low wind speeds due to the low blade weight of only 50-60 % of the weight of traditional blades The Finnish manufacturer of nanotechnology windmill blades, Eagle Windpower Ltd, is a globally leading developer and manufacturer of high technology windmills in the 2-500kW range The innovation originated from Jyväskylä University
  • 24. Desinfinator uses nanotechnology for air cleaning FinNano Desinfinator Ltd has created an award- winning air cleaning system, which was introduced to the market 9/2008 Nanotechnology is used to make coating for radical generation. This has proven to be a very efficient method in getting rid of impurities and smells from the air. Markets have already been opened in Europe, Russia, and Middle-East
  • 25. Helsinki University spin-off offers advanced measurement of indoor air FinNano Helsinki Aerosol Consulting Ltd is a Helsinki Aerosol Consulting - Business Model spinoff from the University of Helsinki, Department of Atmospheric Sciences Solutions The company focuses on serving the needs of the rapidly developing nanotechnology sector by offering advanced aerosol measurement and Process optimisation and indoor air modelling services for processes and indoor air Modelling Measurement
  • 26. Led-lighting manufacturer OptoGaN was acquired by Russian investors FinNano With its cutting edge technology, OptoGaN enables new generation of Solid State Lamps which feature bulb-like brightness, bulb-like cost, high energy efficiency and environmental safety Founded 2004 in Finland by two Russian physicists, OptoGaN operates its extensive R&D in Micronova, Espoo, Finland and starting since 2006 a full pilot line in Dortmund, Germany In 2007 OptoGaN has raised €5M in capital from Nordic Venture Fund, Via Venture Partners, VNT Management Oy and Finnish Industry Investment In 2008 OptoGaN’s Finnish and German operations have become part of the OptoGaN Group, a joint venture established by Onexim Group, the Russian Corporation of Nanotechnologies (RUSNANO), and the Ural Optical and Mechanical Plant (UOMP) Target investment for the new company is over 40 MEUR
  • 27. Summary FinNano The number of active companies in the Finnish nanotechnology sector has increased to 202 from 61 in 2004 In addition to over 200 technology companies, the sector growth has created new business opportunities for numerous service companies 65 companies had commercial products or processes in 2008 (27 in 2004) Nanotechnology has had a significant positive impact on economic development in the key clusters of the Finnish industry Nanotechnology sector size in Finland exceeded 300 Meur in 2008, up by 25 % from 2006. Exports accounted for over 60% of total company revenues in the sector. The industry employs approximately 2 900 professionals (300-400 in 2004) Private investments in nanotechnology exceeded 65 Meur as industrial investments reached 56,6 Meur and Venture Capital 9,5 Meur While the sector growth continues, companies are facing main challenges in shortage of funding and manpower, and intellectual property rights(IPR) issues Most industries have a deep pipeline of R&D, to be realised in 1.5-3.5 years Especially SMEs seeking internationalisation find availability of risk finance and qualified manpower, and IPR problems as main challenges to company development
  • 28. Agenda FinNano Methodology and data Analysis Predictions
  • 29. Global economic downturn has an adverse effect on the Finnish nanotechnology sector FinNano Negative effects Global macroeconomic downturn slows down the growth in global demand for nanotechnology products Liquidity problem hurts investments for future growth, especially by expanding the funding gap in Finland Solvency problem increases the number of bankruptcies for SMEs in nanotechnology Positive effects The downturn alleviates the skill shortage problem to small extent Acquisition of IPR and companies becomes easier as valuations decrease
  • 30. Services, Construction, Metals and Forest are likely to take the strongest hit FinNano Industry Key factors for facing economic downturn Estimated dowturn impact on nanotechnology industry Tools and Instruments Several established products and Small positive impact on skill shortage dilemma, public sector a big customer Energy and Environment A strongly emerging sector and Small highly invariant to economic cycles Health and Well-being Strong pipeline and a large number of Small publicly funded research projects Chemicals and Materials Several established products and Medium positive impact on skill shortage dilemma, strong need for risk capital ICT Strong need for risk capital and very Medium export driven but has a large number of established products and publicly funded research projects Forest Cluster Several established companies Strong seeking for renewal and new opportunities Metals and Mech. Eng. Very export driven and no established Strong commercial products Construction No established commercial products Strong and the core of the industry is strongly hit by the downturn Services Demand for services has s high Strong customer wealth elasticity
  • 31. A comprehensive pipeline and R&D investment analysis was conducted for all industries to make market estimates.. FinNano
  • 32. In 2013, over 250 companies in the Finnish nanotechnology sector are estimated to have commercial products incorporating nanotechnology FinNano Industry Product Estimated number of Estimated number of development companies with companies with pipeline average commercial products commercial products time to market in 2010 in 2013 Chemicals and 3,6 years (2,3 in 2006) 25 (+6 from 2008) 56 Materials Construction 3,1 years 3 (+0 from 2008) 6 Forest Cluster 2,3 years (2,7 in 2006) 11 (+7 from 2008) 18 Health and Well- 2,3 years (3,7 in 2006) 20 (+11 from 2008) 63 being Metals and Mech. 2 years 1 (+1 from 2008) 10 Eng. ICT 1,5 years (3,4 in 2006) 17 (+5 from 2008) 56 Energy and 1,5 years 8 (+4 from 2008) 14 Environment Tools and 1,5 years 17 (+3 from 2008) 29 Instruments ALL 2,4 years (3,1 in 2006) 102 (+37 from 2008) 251
  • 33. Finnish nanotechnology sector is estimated to reach 1.3 billion euro milestone by 2013 FinNano Finnish Nanotechnology Sector in 2013 •Sector size: 1300 Meur •Employment: 11000-12000 professionals Nanotechnology Sector in Finland, 2008-2013* 1400 1200 1000 800 Meur 600 400 200 0 2008 2010 2013 *A global comparison: 2008 2013 Nanotechnology sector/GDP Source for global figures: Finland 0,2 % 0,6 % Lux Research (2008) Global 0,3 % 3,2 %
  • 34. Fastest growth is expected to take place in ICT, Health and Energy FinNano Nanotechnology expands into more new product categories across all sectors Nanomaterials manufacturing becomes the province of large companies – start-ups focus on applications Supply shift broadens applications for nanomaterials Nanotechnology Sector in Finland, 2008-2013 1400 1200 1000 800 Meur 600 400 200 0 2008 2010 2013 Health and Well-being Chemicals and Materials ICT Tools and Instruments Forest Metals- and Mechanical Engineering Energy and Environment Construction

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