US nanotech firm plans investments

Cientifica Inc, the US-based supplier of nanotechnology information, has decided to invest in a big way in the Mumbai-based Yash Nanotech, a division of Yash Management & Satellite Limited (YMSL).

Cientifica had forged a strategic alliance with Yash Nanotech in May, which so far has been only a technical, consulting and marketing partnership.

Cientifica, is now looking at selling its nanotechnology experience mainly in the textile, chemicals and petrochemicals sector in the country and also planning to make India its global nanotechnology outsourcing hub, said Tim Harper, chief executive officer of the company.

Harper told Business Standard, "With our global presence across London, Madrid, Oslo, Singapore and Mumbai, Cientifica has now decided to make substantial investment in the Indian market. We are trying to setup our base in Mumbai by leveraging on the joint-venture arrangement with Yash Nanotech. We are also planning to reach markets beyond Mumbai and we may set up offices in other cities as well. Hyderabad, Chennai and Kolkata are on the top of our list and New Delhi may also be considered later."

Harper, however, refused to divulge the amount of the investment.

He added, "We are also talking to various institutes of academic excellence in India like the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) for imparting training in nanotechnology to their students as Cientifica rates India as the potential superpower for nanotechnology."