London, 29 September 2004
The electromagnetic spectrum, from radio frequencies through optical to x-ray, encompasses much adventurous scientific research and is the basis for a wide range of vitally important technologies that have applications in areas as divers as communications, health and security.
Last week, over 70 representatives of the venture capital community attended an event at the Institute of Physics in London to hear about the Foresight "Exploiting the Electromagnetic Spectrum (EEMS)" project, and the opportunities for innovation that it has highlighted.
The UK has a long history of world-leading research across the spectrum, but in the past, it has not always moved from invention to innovation to reap the commercial rewards from its discoveries.
This event, organised by Library House, sought to communicate the results of the EEMS project to the venture investing community, and to initiate networking between scientists, technologist, investors and entrepreneurial company executives.
The Foresight project aims were to identify key areas of long-term opportunity across the spectrum, assess these against UK capabilities, and agree a plan of action to help the UK exploit these areas. Through a rigorous scoping process, involving the academic, business and user communities, along with representatives from other government departments and funding bodies, four key opportunities were identified:
- Capturing a market of up to $0.5 billion in 10 year's time in fast optical switches
- Participating in a $5 billion market in integrated "lab-on-a-chip" systems as a platform technology for a number of multi-diagnostic applications (e.g. diabetes treatment, health monitoring, drug targeting, cancer detection etc)
- Developing 'near-field' technologies that are critical to the evolution of smart antennas and integrated radio frequency infrastructure/circuitry
- Capturing a $6 billion share of the market for smart agents for medical imaging
For further details on the Foresight "EEMS" project, please visit the website at http:///www.foresight.gov.uk
Department of Trade and Industry, Press Release No. P/2004/359
Item source: http://www.gnn.gov.uk/environment/detail .asp?ReleaseID=130819&NewsAreaID=2&Navig atedFromDepartment=False