President Bush, with a few strokes of the pen in an Oval Office ceremony on Wednesday, created a permanent federal home for the industries and institutions in the United States that are converging on the nanoscale. Businessmen, venture capitalists, politicians, advisers and a Nobel laureate stood behind the president as he signed the 21st Century Nanotechnology Research and Development Act into law.

The bill gives nanotech a permanent home in the federal government and authorizes nearly $3.7 billion for research and development programs coordinated among several federal agencies. The legislation also authorizes public hearings and expert advisory panels, as well as the American Nanotechnology Preparedness Center to study the emerging technology's potential societal and ethical effects.

"This is really a significant step forward in formalizing and institutionalizing what has been an executive effort," said Phil Bond, undersecretary for technology at the U.S. Commerce Department. Next year, the president will increase nanotech spending by about 9.5 percent to $847 million.

This report is from Small Times Media, which provides business information

about the small tech industry, including nanotechnology, MEMS

and microsystems.