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Newly-Formed MITX Announces Creation of Nanotechnology Association for Massachusetts

Tuesday March 9, 12:55 pm ET

Former MIMC Leading Drive to Heighten Visibility, Elevate Issues in Formation of the Nanotechnology Exchange

BOSTON, March 9 /PRNewswire/ -- The Massachusetts Innovation & Technology Exchange ("MITX") today announced the creation of the Nanotechnology Exchange, a state-wide association to represent the interests and diverse constituencies of the rapidly expanding nanotechnology sector in Massachusetts.

Massachusetts is currently the second largest recipient of federal grants for nanotechnology research and private venture capital firms have invested more than $150 million in state's nanotechnology start-ups and innovations in recent years. Unlike other technologies, nanotechnology crosses a wide spectrum of industries including biotechnology, manufacturing, energy, defense and electronics.

MITX formally launched the Nanotechnology Exchange at Nanotech 2004, the largest international nanotechnology conference and trade show, which is being hosted in Massachusetts for the first time at the Sheraton Boston Hotel from March 7-11. More than 100 exhibitors, including Intel, Hitachi and Texas Instruments, as well as a host of nanotechnology start-ups throughout the US, as well as nearly 2,000 attendees are expected to attend the conference.

"MITX's expanded charter is to embrace all new kinds of innovation in the state, helping to bring key constituents together in support of their respective best interests and common growth," said MITX Chairman Larry Weber. "Given the diversity of innovation we represent, it made tremendous sense to support the needs of the incredibly fast growing nanotechnology sector. This sector has the potential to touch virtually every aspect of the state's technology economy in a positive way, something we at MITX intend to fully support and facilitate."

The Nanotechnology Exchange will feature a broad range of programs aimed at early stage nanotechnology ventures and more mature businesses in the hardware, software, life sciences and telecommunications sectors, which rely on nanotechnology to fuel their own technological advancements. The Nanotechnology Exchange will also reach out to the service organizations and financial backers that typically drive the growth of any industry. First-year programming is likely to include: managing financial growth, managing intellectual property issues, moving ideas from the laboratory to commercial viability, and creating a productive and financial viable interface between early stage companies and developing nanotechnology organizations.

About MITX

The Massachusetts Innovation & Technology Exchange (MITX), formerly known as MIMC, accelerates business opportunities and professional development for those who seek to create business advantage through the innovative application of technology and services. Serving more than 2,500 members from multiple industries including Internet, interactive media, healthcare, financial services and nanotechnology, MITX is the region's premier association for thought leadership, technology trends, building business relationships and professional training and development. MITX also offers its members the chance to promote their companies to targeted audiences through sponsorships, speaking opportunities and networking. MITX is headquartered in Boston. For more information please go to www.mitx.org.

     Media Contact:
     Kiki Mills
     Director of Marketing, MITX
     617-227-2822 x207
     kiki@mitx.org 
 
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